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FEMI OTEDOLA

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Forbes magazine listed this Great Nigeria’s self-made Business man, an entrepreneur, Oil and Gas mogul

Femi Otedola is a self-made business man, an entrepreneur, oil and gas mogul and Chief Executive Officer CEO, Forte Oil; he also founded Zenon Oil and Gas petroleum.

Otedola is equally the chief executive and president of SeaForce Shipping Company, and former chairman, Transcorp Hilton Hotel Abuja.

Femi Otedola according to Forbes magazine is one of the richest people not only in Nigeria but in Africa.

Otedola was born on November 4, 1962 at Ibadan into the family of the late Sir Michael Otedola, who was the governor of Lagos State between 1992 and 1993.

Femi graduated from Obafemi Awolowo University, Ile-Ife, Osun State. After his tertiary education he took charge of his family’s printing press.

After gaining the needed knowledge on how to run his own business, he left his family printing press and started retail fuel market which led to the birth of Zenon Petroleum Oil and Gas.

In 2003, having identified an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, one of the leading petroleum products marketing and distribution company in Nigeria.

Zenon Petroleum Oil and Gas has also invested a lot in the downstream infrastructure development in Nigeria with large sum of shares in different sector of the economy ranging from financial to manufacturing, he was also the major shareholder with African Petroleum which led to the merger between Zenon and African Petroleum in 2007 with Femi Otedola as its CEO

African Petroleum grew in the business and focused her attention on technology and improved corporate governance under the supervision of Otedola and changed its name to Forte Oil PLC with over 500 petrol stations across the country.

Otedola is also known for his other investment in different sectors like his Stallion House in Victoria Island in Lagos which he acquired from the Federal Government.

He is the owner of FO Properties Ltd.He has served as a member of the Nigerian Investment Promotion Council (NIPC), and also served in a committee that developed commercial relations with South Africa.

Otedola equally play key role in the insurance industry as he is the CEO of Centre Force Ltd, and Swift Insurance.

Otedola is popularly known for his many philanthropic works, notable among them was his N300 million personal donation for the completion of the National Ecumenical Centre—Nigeria’s primary place of Christian worship in Abuja.

He also donated N80 million to the Faculty of Agriculture at the University of Port Harcourt, and had made several donations to the Michael Otedola University Scholarship Scheme.

As part of effort to reduce crime and criminality as well as guarantee peace and tranquility in Lagos state, Otedola donated N200 million to Lagos State Security Trust Fund.

Femi Otedola is married to Nana Otedola and they have four children together. One of their children is the popularly known international music producer and the tourist ambassador for Nigeria Florence Otedola also known as DJ Cuppy.

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