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In the world today
Femi Otedola

Femi Otedola

F. Otedola
-0.17% | - $-2.97M
$1.76 B ₹ 16,002 Cr
Real Time Net Worth #2263 Ranking as of 21 Feb 2026 By Forbes

More on Femi Otedola

Gender

Male

Age

63Y

Country

Nigeria

Born On

November, 1962

Deceased

No

Relationship Status

Married

Children

4

Education

Unknown

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Energy, Investments)

Primary Organization

Geregu Power Plc

Titles

Chairman

Sources of Wealth

Forte Oil Sale, Geregu Power

Industry

Energy, Oil & Gas, Finance

About Femi Otedola


F emi Otedola is a prominent Nigerian billionaire with a long and influential career in the country's energy sector. The son of a former governor of Lagos State, Otedola built his first major fortune through his company Forte Oil, a petroleum marketing and distribution company. He built Forte Oil into a major player with a large network of gas stations across Nigeria.

In a strategic pivot, he sold his stake in the fuel marketing business to focus on the power generation sector. He is now the chairman and controlling shareholder of Geregu Power, a major publicly traded power generation company in Nigeria. He has since diversified his investments, becoming a major shareholder in FBN Holdings, the parent company of one of Nigeria's largest banks, First Bank. His daughter, Florence (known as DJ Cuppy), is a famous musician and DJ.

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Quick Reads


  • A prominent Nigerian billionaire investor and energy tycoon.
  • Made his first fortune in oil marketing with his company Forte Oil.
  • Now the chairman of the power generation company Geregu Power.
  • A major shareholder in FBN Holdings, the parent of First Bank of Nigeria.
  • His daughter is the famous Nigerian musician, DJ Cuppy.

Early Life and Background


Olufemi 'Femi' Peter Otedola, CON, is a Nigerian businessman and philanthropist, the former Chairman of Forte Oil PLC and the current Executive Chairman of Geregu Power PLC. Born in Ibadan, Nigeria, in 1962, he is the son of Michael Otedola, a former Governor of Lagos State. His career is rooted in the high-stakes world of commodities and energy.

Otedola graduated from Methodist Boys' High School in Lagos. He made his first fortune in commodities before pivoting into the energy sector. Recognizing the immense, structural demand for power generation and fuel marketing in Nigeria, he committed to building a vertically integrated empire that controlled every aspect of the supply chain.

Career Journey of Femi Otedola


Femi Otedola's career is defined by aggressive acquisition and strategic divestiture within the Nigerian energy sector. 2004: Zenon Petroleum and Gas. He founded Zenon, investing N15 billion into downstream infrastructure (storage depots and cargo vessels) to dominate the fuel marketing business. Zenon became a major supplier of diesel to Nigeria's largest manufacturing and telecommunication companies.

He later acquired a majority stake in African Petroleum, which he rebranded as Forte Oil PLC. In 2019, Otedola sold his shares in Forte Oil for massive financial returns to invest solely in power generation. He is the Executive Chairman and majority owner (over 70 percent stake) of Geregu Power PLC, one of Nigeria's largest power generation businesses. His wealth is tied to his mastery of the high-stakes, highly profitable Nigerian energy sector and his commitment to philanthropy (donating millions to healthcare and education).

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Femi Otedola's Timeline


2004:

Founds Zenon Petroleum and Gas, investing N15 billion in downstream infrastructure (Founding 1).

2010:

African Petroleum is rebranded as Forte Oil PLC (Corporate Transition).

2019:

Sells his shares in Forte Oil to focus on power generation (Strategic Exit).

2022:

Increases his stake and serves as Executive Chairman of Geregu Power PLC (New Venture/Executive Leadership).

Ongoing:

Continues as a major philanthropist, making multi-million dollar donations (Philanthropic Focus).

Major Business Ventures and Investments


Femi Otedola's wealth is concentrated in his controlling stake and executive leadership of the publicly traded power generation firm, Geregu Power PLC (NSE: GEREGU), and his liquid capital from prior exits.

  • Geregu Power PLC (Executive Chairman & Majority Owner): The core current asset, a major power generation business in Nigeria (controlling over 70 percent of the shares).
  • Forte Oil PLC (Former Chairman): The major fuel marketing and retail asset he sold in 2019.
  • Zenon Petroleum and Gas (Founder): His foundational company in the downstream oil sector (storage depots and cargo vessels).
  • Philanthropic Focus: He is a major philanthropist, notably donating millions to the University of Ibadan and various healthcare causes.

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Philanthropy and Social Impact


Femi Otedola is a major Nigerian philanthropist. His structural social impact is tied to Geregu Power's role in providing essential electricity to Nigeria's national grid—a critical contribution to the nation's economic stability and development. His companies provide thousands of stable jobs in the energy and logistics sectors.

His personal philanthropy is massive (donating millions to healthcare and education) and widely publicized. His career, though marked by political connections and controversy, is a testament to the profitability of dominating the high-stakes, essential infrastructure of Nigeria's energy sector.

Fashion, Style, and Lifestyle


Femi Otedola maintains the professional, high-profile style of a Nigerian business executive. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic is one of confident authority, reflecting his financial success and political connections. He owns homes in Lagos, Abuja, Dubai, London, and New York City.

His luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is defined by his commitment to the energy sector, high-stakes finance, and his profound philanthropic commitment to his country.

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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He is the Executive Chairman and majority owner of Geregu Power PLC.
  • He sold his shares in Forte Oil PLC to invest solely in power generation.
  • He is known for his massive philanthropy, donating millions to healthcare and education.
  • He holds over a 70 percent stake in Geregu Power.
  • He made his first fortune in commodities trading.
  • He is a father of four, including social media celebrity DJ Cuppy and actress Temi Otedola.
  • His autobiography is a bestseller on Amazon.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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