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Femi Otedola Net Worth 2024 And Biography.


Feb 18, 2024
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Femi Otedola Net Worth: Femi Otedola is a Nigerian business mogul, investor, industrialist and an established entrepreneur who has a net worth of $1.8 billion dollars according forbes 2016 world billionaire ranking.

According to forbes 2016 billionnaire rating Femi Otedola Net Worth net worth is estimated at $1.8 million dollars, bringing him top on the list of the richest and most influential persons in Nigeria.

If you have spend time in In Nigeria, you must have hear of the popular name whom both Nigeria artistes and young boys mentioned on daily basis “Femi Otedola” the popularity of his name is not just for mere purposes.

Femi Otdola Net Worth

Femi Otedola who happen to be the father of Nigerian popular DJ, DJ Cuppy, Blogger Temi Otedola and a Musician Tolani Otedola, He has been sited several time by artistes most recently Victor AD, with the slangs “waiting DJ Cuppy money no fit do Otedola Money do am oo”, keep calm you are on the right page to know as much as you want to know about Billionaire Femi Otedola.

Otedola Net Worth: However, in 2016 Forbes Estimated net worth to be 1.8 Billion Dollars, making him one of the richest and most influential men in Nigeria and in Africa.

Femi Otedola Profile

  • Full Name: Femi Otedola
  • Birth Date: 1962
  • Birth Place: Oyo State
  • Nick Name: Otedola$
  • Religion: Christian
  • Nationality: Nigerian
  • Ethnicity: Yoruba
  • Education: N/A
  • Horoscope: N/A
  • Father’s Name: Updating Soon
  • Mother’s Name: Updating Soon
  • Siblings: Updating Soon
  • Age: 62-Years-Old
  • Height: 1.95M
  • Weight: N/A
  • Shoe Size : N/A
  • Eye Color : Dark Brown
  • Body Measurement: N/A
  • Marital Status: Married
  • Children: Blessed With Children
  • Profession: Businessman/ Entrepreneur
  • Stats: Active
  • Net Worth: $1.8 Billion Dollars
  • Salary: Updating Soon
  • Social Media: Instagram, Twitter

Femi Otedola Biography

Femi Otedola is a Nigerian both by birth and by origin, He was born on 4th November 1962, Otedola was born in Ibadan, Oyo State, south west Nigeria, into the family of the late Sir Michael Otedola, who was then Governor of Lagos State from 1992 to 1993.

According to forbes 2016 billionnaire rating, Femi Otedola Net Worth net worth is estimated at $1.8 million dollars, bringing him top on the list of the richest and most influential persons in Nigeria.

He is a Nigerian businessman, philanthropist, and former chairman of Forte Oil PLC, an importer of fuel products. Otedola is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation as part of the liberalization of the sector in Nigeria.

In one of his recent interview, he once said “I had about 93 percent of the diesel market on my fingertips. All of a sudden, oil prices collapsed and I had over one million tons of diesel on the high seas and the price dropped from $146 to $34.”

Femi Otdola Net Worth

Despite this experience, Femi has risen to become one of Nigerian billionaires ranking among the world’s richest persons. This wouldn’t have been possible if he had refused to re-strategize after the initial downfall of his company.

Otedola Business Career.

Zenon Petroleum and Gas Limited

Mr. Femi Otedola has asserted himself in the market of the Nigerian oil and gas. In 2003, he founded the Zenon Petroleum and Gas Limited which specializes in the marketing and distribution of petroleum products. In 2004, Mr. Femi Otedola invested 15 billion Naira in Zenon which was used in infrastructure development and acquiring storage depots and cargo vessels. The company owns storage depots at Ibafon and Apapa and also possesses four cargo vessels. Three of the cargo vessels are named after his father, mother, and wife. Their names are MT Sir Michael, MT Lady Doja, and MT Nana respectively while the last one is named Zenon conquest.

Zenon controls a major share of the diesel market and supplies fuel to most of the major Nigerian manufacturing industries. These include Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle, and Guinness. Zenon was able to seize control of the market in a very short time.

Femi Otedola Net Worth And Biography.

Femi Zenon obtained 28.7% share in African Petroleum Limited. He was later appointed the Chairman and CEO of African Petroleum Limited because of Zenon’s shares in African Petroleum. He later acquired additional 29.3% share of African Petroleum Limited (56% shares in total) making him the largest shareholder of African Petroleum Limited.

Femi Otdola Net Worth

African Petroleum Limited was later changed to Forte Oil PLC, with lots of improvement in management and technology put in place which was pioneered by Femi Otedola.

Forte Oil gained access to the global market after selling 17% of its equity to Swiss Commodity Trader Mercuria Energy Group.

According to forbes 2016 billionnaire rating Femi Otedola Net Worth net worth is estimated at $1.8 million dollars, bringing him top on the list of the richest and most influential persons in Nigeria.

Femi is also the president of SeaForce Shipping Company Limited. Otedola advanced consistently in his business career and diversified into the Financial Industry. He is one of the major shareholders in Zenith and United Bank of Africa (UBA).

Femi Otedola Houses

In February 2007, he acquired a real estate worth N2.3billion from the Federal government through the Zenon of Stallion House. This is also an enlargement to his business coast.

Femi Otedola’s cars

Femi Otedola owns a fleet of luxurious cars. He maintains a Mercedes fleet in Nigeria. He also maintains the Rolls-Royce custom-designed cars, built in Great Britain. Both fleets cost about $1 billion. His Mercedes cars are bulletproof include a Mercedes Benz AMG 63,  He recently acquired a Mercedes-Benz Mclaren SLR valued at N250 million.

Femi Otedola Net Worth And Biography.

Femi Otedola Philanthropy

Otedola has made several donations to the Michael Otedola University Scholarship Scheme, which was established by his father in 1985 to give underprivileged students in Lagos State access to higher education. In 2005 Zenon donated N200 million to the scheme’s fund. Since its inception the scheme has benefited more than 1,000 students.

Femi Otedola Net Worth And Biography.

In 2005, Otedola made a N300 million personal donation to the completion of the National Ecumenical Centre—Nigeria’s primary place of Christian worship—in Abuja. In 2007 he was among a group of donors who gave N200 million to the State Security Trust Fund in a drive to reduce crime in Lagos State. Later that year he donated N100 million to the Otedola College of Primary Education in Noforija, Epe. In 2008 he donated N80 million to the Faculty of Agriculture at the University of Port Harcourt. Femi Otedola fulfilled his pledge of 25,000 dollars to the Super Eagles in the match against Algeria in the 2019 AFCON.

Femi Otedola Net Worth And Biography.

In the same 2019 Otedola Pledge 5 billion to Cuppy Foundation, In 2020 Covid_19 Pandemic that Hit hard on Nigeria, Femi Otedola Donate the Sum of N1 Billion Naira to Nigeria Federal Government.

Femi Otedola’s Companies

CentreForce Limited, Swift Insurance, Forte Oil, Zenon Petroleum and Gas Limited, Gegeru Power Plc and others are some of his companies.  He is a shareholder in various companies within and outside Nigeria.

Femi Otedola’s Appointments

  • South Africa commercial relationship developement committee member 2004
  • Non-executive director of Transnational Corporation of Nig. Plc 2006-2011
  • Chairman, Transcorp Hilton Hotel, Abuja.                                             2007
  • Nigerians National Economic Management Team member               2011

Femi Otedola wife and children

Mr. Femi Otedola is married to Nana Otedola. She is the owner and CEO of Garment Care, a dry-cleaning enterprise. Together they have three daughters and a son. One of his daughters, Florence Otedola, is also known as DJ Cuppy. She is an international music producer, DJ, and a tourist ambassador for Nigeria. The other daughter, Temi, is a designer and style blogger.

Femi Otedola Net Worth And Biography.

Femi Otedola Net Worth

Femi Otedola Net Worth: In 2014, he was listed by Forbes as number 29 among the richest people in Africa. According to forbes 2016 billionnaire rating Femi Otedola Net Worth net worth is estimated at $1.8 million dollars, bringing him top on the list of the richest and most influential persons in Nigeria.

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