In this post, platinumtimes.ng chronicles the biography, career, family, net worth of Femi Otedola.
Olufemi Peter Otedola, CON is a prominent business merchant, present executive chairman of Geregu Power PLC and former chairman of Forte Oil PLC. He is also the founder of Zenon Petroleum and Gas Ltd.
Profile Summary
Name: Olufemi Peter Otedola, CON
Date of birth: 4th November, 1962
State of Origin: Oyo state, Nigeria
Education: Obafemi Awolowo University
Religion: Christianity
Career: Businessman
Early Life
Otedola hails from Oyo State, Nigeria. He was born into the family of the Ex-Governor of Lagos State, late Sir Michael Otedola on 4th November, 1962.
Education
Otedola spent his early years in his hometown where he attended Olivet Baptist High School before pursuing a degree at the Obafemi Awolowo University, Ile-Ife.
Career
He began his career as an enterpreneur In 1994 when he founded CentreForce Ltd, specialising in finance, investments and trading.
He is the owner of Swift Insurance, chief executive and president of SeaForce Shipping Company Ltd.
In 2003, he established Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company which supplied fuel to top manufacturers like the Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness.
In January 2006, Otedola was appointed a non-executive director of Transnational Corporation of Nigeria Plc, a multi-sectoral conglomerate established in 2004 by former President Olusegun Obasanjo to respond to market opportunities requiring heavy capital investment in Nigeria and across sub-Saharan Africa until February 2011.
Otedola is also into real estate investments. He is the owner of FO Properties Ltd. and has served as a member of the Nigerian Investment Promotion Council (NIPC) since 2004.
In 2007, he was named chairman and chief executive of Africa Petroleum through the acquisition of a controlling stake in the business.
He was recorded as Next to Africa’s top richest man, Aliko Dangote on Forbes list of billionaires in 2009. In 2010, African Petroleum changed its name to Forte Oil PLC. and afterwards to Adrova PLC. in 2020.
In 2011, Femi Otedola was appointed by President Goodluck Jonathan to Nigeria’s National Economic Management Team. He is presently a stakeholder in the First bank PLC.
Private life
Otedola is married to Nana Otedola and they have four children. One of his daughters, Florence Otedola is DJ Cuppy, a music producer and tourism ambassador for Nigeria. He has homes in Lagos, Abuja, Dubai, London and New York City.
Net Worth
Femi Otedola currently has an estimated net worth of $1.1 billion and is listed as one of the richest and most influential people in the continent.