In this article, we look into Femi Otedola Biography.
Femi Otedola is a Nigerian top businessman, importer, former chairman of Forte Oil PLC and founder of Zenon Petroleum and Gas Ltd. He is the son of a politician and former governor of Lagos State, Sir Michael Otedola who died on the 5th of May, 2014.
Femi has investments in the power sector and a broad range of businesses spread across real estate, shipping and finance.
Femi Otedola’s Profile
Before we continue, here’s a quick run down on Femi Otedola’s profile and a few things you’d love to know about him;
Full Names: Femi Otedola
Date of birth: 4th November, 1962
Age: 47 years
Parent(s): Sir Michael Otedola
Spouse(s): Nana Otedola
Children: DJ Cuppy, Temi, Fewa, Olaunmi
Net Worth: US$275 million (2017)
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Femi Otedola Biography, Early Life, Family, Education, Businesses And Controversies
Born on the 4th of November, 1962, Femi Otedola is a Nigerian businessman, importer, former chairman of Forte Oil PLC and founder of Zenon Petroleum and Gas Ltd.
He was born into the family of Sir Micheal Otedola, a politician and former governor of Lagos State.
Otedola had his first daughter, Tolani who is a singer and then got married to Nana Otedola before having two more daughters and a son who has special needs with .
A successful entrepreneur, Femi also received his fair share of controversies in December, 2016 when he suffered a blackmail attempt with Toronto-based sisters—Jyoti and Kiran Matharoo, who tried extorting and cyber-bullying him.
He set up the Zenon Petroleum and Gas in 2003 after identifying a huge market opportunity in the fuel retail industry, and reportedly invested over ₦15 billion in downstream infrastructure developments as well as acquiring storage depots at Ibafon, Apapa, Lagos State.
Femi also bough four cargo vessels, and they amounted to a total capacity of about 147,000 metric tonnes.
By 2005, the Zenon Petroleum was controlling a major portion of the Nigerian diesel market and in 2007, the CEO was appointed Chairman of the Africa Petroleum after his acquisition of a major stage in the company. He later secured an acquisition of 29.3% of the company for ₦40 billion.
In 2010, the African Petroleum rebranded and changed its name to Forte Oil. Otedola is also the owner of the Swift Insurance, and CentreForce Ltd, which specialises in investments, finance and trading.
Femi Otedola Net Worth
Femi Otedola is one of the big heads in the Nigerian oil and gas industry. He is estimated to be net worth over US$275 million.