What is Femi Otedola Net Worth? According to this website Femi Otedola net worth is estimated at around $2 Billion Us Dollars (Over 851 billion in Naira) Femi Otedola is among the Nigeria Prominent, Influential and Wealthy Business mogul.
However in this article we are reviewing Femi Otedola Bio, Wikipedia, Parents, Father, Children, Endorsement deals, State Of Origin, Height, Net Worth, House and Cars, Phone Number, Contact, Marriage, Wife/Spouse, Education career, Social Media Account, Controversies, Companies.
let dive into Femi Otedola net worth
|Net worth||$2 billion|
|Source||Entrepreneur & Investments|
Femi Otedola is a Nigerian businessman, philanthropist, and former chairman of Forte Oil PLC, an importer of fuel products.
He is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance.
Femi Otedola is one of the most popular billionaires in Nigeria whose investments spans across every important sector in the Nigeria economy.
He has been a major player in the Nigerian oil and gas industry for decades.
Femi Otedola Biography
Femi Otedola is the third richest man in Nigeria, and one of the richest men in Africa. Femi Otedola is a popular businessman in Nigeria, a philanthropist, a CEO, and an entrepreneur in all its making.
He was born on the 4th of November 1962 in Ibadan, Oyo State into the family of Sir Michael Otedola. Sir Michael Otedola served as the Executive Governor of Lagos State from 1992 – 1993.
Femi Otedola Early Life
Otedola was born in Ibadan, the capital of Oyo State, south west Nigeria, into the family of the late Sir Michael Otedola, Governor of Lagos State from 1992 to 1993., His mother, Lady Doja happens to be a Nigerian entrepreneur.
However, He is the second son of four boys from his parents, he was raised in Lagos alongside his three brothers.
Initially, While growing up at Lagos, he had an intense passion for the priesthood and was wanting to study at the seminary school to become a priest in the future, although he later declined to venture into priesthood since he couldn’t give up his flair for business.
Femi Otedola Career
Femi Otedola began his career as a prominent businessman in Nigeria when in 2003, he started business in the fuel retail market in Nigeria.
This led him to set up Zenon petroleum and gas Ltd, a company marketing and distributing petroleum products. In 2004, as the owner of Zenon petroleum, he invested N15 billion, by acquiring storage depots in Apapa, Ibafo, and four cargo vessels with a total storage capacity of 147, 000 metric tones. In 2004, he also acquired a fleet of 100 DAF fuel tanker trucks all for N1.4 billion.
By 2005, Zenon petroleum & gas Ltd had grown widely in Nigeria and was supplying fuel to major companies in Nigeria like Coca-cola, Nigerian Breweries, MTN, Unilever, Dangote, Guinness, and other big companies.
However, In March 2007, ten banks in Nigeria approved a loan of N193.5 billion for Zenon petroleum to build the largest premium motor spirit storage facility in Africa, and later the same year in 2007, Zenon acquired a 28.7% stake, putting it as one of Nigeria’s biggest fuel players.
But unfortunately in 2012, Zenon was involved in an alleged scam. The senate presiding over the case listed Femi Otedola’s Zenon, as a company that scammed the Nigerian government of $1.4 million, but Otedola was exonerated from the case and one Lawan Farouk was arrested for accepting bribes to cover up crimes.
Following the success of Zenon between 2007 and 2008, Femi Otedola acquired himself a stake in African Petroleum in 2007, and his total stake in the company came to a total of 55.3%. His stakeholder’s benefit allowed a merger between Zenon Petroleum & Gas Ltd and African petroleum, and Femi Otedola became the Chairman of African petroleum.
More so, In 2010, African petroleum changed its name and became what is now known as Forte Oil Plc. In 2019, Femi Otedola sold his stakes at Forte oil to focus on power in Nigeria with his company Geregu Power Plc.
In January 2006, he was appointed as a non-executive director of the transnational corporation of Nigeria Plc.
Femi Otedola has made a large number of real estate investments, including an N2.3 billion acquisition of Zenon of Stallion House in Victoria Island in Lagos in February 2007. In the following month, he was appointed chairman of Transcorp Hilton Hotel in Abuja.
The same year he was also appointed as the chairman and chief executive of Africa Petroleum through the acquisition of a controlling stake in the business.
Otedola became the second Nigerian after Aliko Dangote to appear on the Forbes list of dollar-denominated billionaires, with an estimated net worth of $1.2 billion in March 2009.
Femi Otedola is the chief executive and president of Sea Force Shipping Company Ltd and was at one point Nigeria’s largest ship owner after he extended the control over the distribution of diesel products.
Femi Otedola Educational Background
Femi Otedola regarding his educational background attended the University of Lagos staff school, and then he later proceed to Obafemi Awolowo University, Ile-Ife, Osun state where he acquired his first degree in 1985.
Femi Otedola Profile
- Full Name: Femi Otedola
- Parents: Michael Otedola, Lady Doja
- Born: 4 November 1962 (age 54 years old)
- Place of Birth: Ibadan
- State Of Origin: Lagos State
- Nationality: Nigerian
- Children: DJ Cuppy, Fewa Otedola, Tolani, Temi Otedola
- Spouse/Wife: Nana Otedola
- Occupation: Businessman, Entrepreneur
- Net Worth: $2 Billion
Femi Otedola Personal Investment
Sea Force Shipping Company Limited, one of the biggest shipping company in Nigeria the company is the first in Africa to acquire a flat bottomed bunker vessel with a storage capacity of 16,000 metric tonnes.
FO Properties Limited, a company which priority is in Real Estate Investment, they successfully acquired Stallion House in Victoria Island Lagos, through Zenon and he owns many other luxurious estates across the country.
Femi Otedola Social Media Handles
Femi Otedola not really being a social media freak doesn’t waste most of his time on social media since he is always focused on building his business and only makes use of social media for some business communications.
He’s having over 1.5 million followers on Instagram.
Instagram handle -@ femiotedola
Femi Otedola Properties (House and Cars)
He is able to afford to buy 3 Ferrari’s for his three daughters, and fly to Italy to lick some Gelato ice cream
Some of Femi Otedola’s luxury cars include:
- A Mercedes-Benz AMG G63 worth N73 million.
- A G-Wagon costing N53 million.
- A Mercedes SLR McLaren worth N250 million.
- A Rolls-Royce Phantom worth N162 million.
- BMW 6 series worth N30 million.
- In addition to owning some amazing luxury rides, Femi Otedola owns a private jet and a private yacht he uses to travel when he feels the urgent need to.
Femi Otedola has houses in Nigeria and abroad. In Nigeria, he lives in a mansion in Banana Island, Ikoyi. He also has many houses in Lagos, Abuja, Port-Harcourt, Enugu, Oyo, and some other states in Nigeria.
In overseas, he owns state-of-the-art houses in New York, London, Dubai, and some islands. He stays in any of them when he travels out of the country. His children also live in the houses when they travel out of Nigeria.
Femi Otedola Personal Life/Marital Status
Femi Otedola as a philanthropist has carried out a lot of charity works and he has made a whole lot of donations to different organizations in Nigeria. He’s having interests and hobbies in doing what suits him best.
He is a father of four; three girls and one boy. Femi Otedola is also fantastically and happily married to Nana Otedola, a business visionary.
Femi Otedola Children
- DJ Cuppy: A Nigerian entertainer whose real name Florence Ifeoluwa Otedola (Age 29 years) (born 11 November 1992)
- Temi Otedola: A Nigerian actress, entrepreneur, fashion and lifestyle blogger and designer. She is also known as JTO Fashion (Age 26 years) (born 20 March 1996)
- Fewa Otedola: The only son of the Nigerian billionaire, he keeps a private life (Age 21 years) (born 2 of June 2001)
- Tolani: A Nigerian singer and songwriter known for song, Badman, her real name is Olawunmi Christy Otedola. (Age 36 years) (born 21 April 1986)
I strongly believe that you guys would have been curious to know how much this celebrity has made in his Business career
Femi Otedola Net Worth
Having worked really Worked hard over the years and has become a celebrated business mogul, Femi Otedola has a generated estimated net worth of $2 billion
Femi Otedola net worth in Naira: is about ₦851,107,778,000.00 as of 2022