Femi Otedola is a well-known billionaire in Nigeria whose investments spreads across diverse necessary sectors in the country’s economy.
Femi has been a big player in the Nigerian oil and gas industry for a lot of years now. In this article, we will explore his net worth as well as state some important things about him.
Full Name: Femi Otedola
Date of Birth: November 4th in 1962
Net Worth: $550 million
Femi Otedola pushed Forte Oil PLC to an impressive height after his Zenon Oil & Gas acquired AP some years back. As a business owner, Femi has had his own share of issues too.
For instance, he lost out on his billionaire status in 2016. However, the man is still doing all he can to ensure he is still floating.
Femi Otedola Biography
The wealthy guy was born on November 4,1962 in Ibadan, there in Oyo State in Western Nigeria. Femi was actually born into the family of a former Lagos State Governor, Sir Michael Otedola.
Femi Otedola Education
Femi attended the popular Obafemi Awolowo university in Osun State from 1980 to 1985.
Femi Otedola Family
He ismarried to Nana Otedola, and the duo have been able to build a happy family. Their union have produced 4 nice kids, namely Florence Otedola aka DJ Cuppy, Temi Otedola, Olawunmi Christy Otedola and Fewa Otedola.
Femi Otedola Business Interests
He is the Chairman of Forte Oil Plc formerly known as Africa Petroleum(AP).
This firm is one that imports fuel products, and it actually has over 500 Gas Station across the country. We should also add here that the company also manufacture its own engine oil owns storage gas depot.
Just as stated earlier, Femi ensures he spread his tentacles, investing in various sectors.
Now, he is not just the owner of Zenon Petroleum And Gas Limited, but he has also invested into the financial sector through his company Zenon and they are the largest shareholders in banks like Zenith Bank, UBA, etc.
has also invested into the financial sector through his company Zenon and they are the largest shareholders in banks like Zenith Bank, UBA, etc.
It is impressive to note that his petroleum company was the biggest supplier of fuel in the country, supplying the big guys like MTN, Dangote Group, Cadbury, Coca-Cola, and so on.
He also invests in SeaForce Shipping Company Limited (which is actually one of the biggest shipping company as far as Nigeria is concerned).
It should be noted that this firm is the first in Africa as a whole to get a flat bottomed bunker vessel with a storage capacity of 16,000 metric tonnes.
Femi also have investments in FO Properties Limited, a firm that basically deals in Real Estate Investment. The company has been able to own various Estates across Nigeria, and they keep contributing to Femi’s wealth.
However, it must be noted that as a result of Forte Oil stock dropping in year 2016, Femi withnessed a drop in his net worth ( from $1.8billion to $550 million).
Hopefully, the man will bounce back soon and will find himself at the spot he used to be before now.