Meet one of thr richest NIgerians - Femi Otedola. You can learn from his success story.
How much do you know about Nigerian business? You probably heard that oil industry is one of the most profitable and successful ones in the country. But who is at the top of it? Who holds sway? Let’s learn more about Femi Otedola – a significant figure in Nigerian economy.
Femi Otedola biography
He was born in 1962 in the capital of Oyo. His family was well-known in Nigeria, as his father was Governor of Lagos State in 1992-93.
In 2003, Otedola founded Zenon Petroleum and Gas Ltd. The company dealt with marketing of petroleum products and distribution. Because of his great investment activity, Zenon managed to take the biggest share of Nigerian diesel market under control by 2005. Then, in 2007, they got an approval from banks to get a loan for building the largest premium motor spirit storage facility in Africa.
Later that year Zenon acquired almost 29% stake in African Petroleum, which is one of the largest fuel marketers in Nigeria. After some time, Otedola became a chairman of Africa Petroleum. He has become extremely rich and in 2009, was listed in Forbes. In 2010, the name of African Petroleum was changed to Forte Oil Plc. In 2015, they sold 17 % of equity to Swiss commodity trader, giving the company access to the global commodity markets.
READ ALSO: How popular is Tiwa Savage?
How old is Femi Otedola?
He was born in 1962, so Otedola is in his middle fifties now. He keeps investing and developing oil industry of the country and become wealthier every single day.
Is Femi Otedola married
Otedola has a wife, called Nana Otedola. They also have three wonderful daughters and a son. One of his daughters, Florence Otedola, is also known as DJ Cuppy. She has become an international music producer and DJ. Moreover, she is also a tourist ambassador for Nigeria. The other girl, Temi, is a designer and style blogger.
Femi Otedola yacht
You already know that Femi Otedola is very rich man. He has become major shareholder of his own company, having 78% stake. In 2015, he was listed in Forbes ranking once again and took the position of 1714. His current net worth is about $1 billion.
Thus, there is nothing to surprise that he owns lots of mansions and other properties, including Femi Otedola house in Ikoyi, which is worth about N1.2 billion, and the yacht. According to the reports, it is quite massive and equipped with the best of facilities and a three-bed apartment.
Now you know more about one of the richest Nigerians in the world. He has done a lot for the gas and oil industry and continues his work.