Femi Otedola Biography, Spouse, Children, Source of wealth And Net Worth.
Who is Femi Otedola?
Femi Otedola is a Nigerian businessman born on 4 November 1962 in Ibadan the capital of Oyo State into the family of the late Sir Michael Otedola the former Lagos State Governor from 1992 till 1993.
Femi Otedola is one of the Nigerian billionaire that make money being a Nigerian businessman, philanthropist, former chairman of Forte Oil PLC, an importer of fuel products and investor. If it may interest you to Know, Otedola is the founder of Zenon Petroleum and Gas Ltd, also own businesses across shipping, real estate and finance.
Femi Otedola Family
Femi Otedola is happily blessed with four children. Otedola’s first child is tolani a singer while two daughters was born by the woman he married Nana Otedola, the daughters are Florence Ifeoluwa and Elizabeth Temi and a son Fewa. I want this to be clear to people that he has more than one child, some people believe that Femi Otedola has only one daughter Florence Ifeoluwa Otedola popularly known as DJ Cuppy professionally recognized as Nigerian DJ, music producer and ambassador. Temi her younger sister is a style blogger and designer.
The name of Otedola Wife is Nana Otedola
Nana Otedola Facts
• Name: Nana Otedola
• Date Of Birth: 2 August 1966
• place Of Birth: London
• Profession: Businesswoman
• Ethnicity: African
• Spouse: Femi Otedola
• Networth: $300 million
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Otedola Parent’s Name
•Father’s Name: Michael Otedola
•Mother’s Name: Lady Doja
Femi Otedola Children’s Name are: Oluwawunmi Christy Otedola, Florence Ifeoluwa Otedola, Temi Otedola, Fewa Otedola.
Florence Ifeoluwa Otedola Facts
• Birth Name: Florence Ifeoluwa Otedola
• Stage Name: DJ Cuppy
• Birth Date: 11 November 1992
• Place Of Birth: Lagos, Nigeria
• Genres: Afrobeats
• Profession: DJ record, producer, remixer
• Labels: Red Velvet Music Group
• Website: djcuppy.com
Temi Otedola Facts
• Birth Name: Temi Otedola
• Date Of Birth: 20 March 1996
• Popular Siblings: DJ Cuppy
• Nominations: Nigerian Teen Choice Award for Choice Fashion Blogger.
Femi Otedola Net Worth
Femi Otedola is one of the billionaire we have in Africa, his a businessman and also make huge money from oil. According to our source, Femi Otedola net worth is around $ 1. 8 Billion making him to be ranked as one of the richest men in Africa.
Femi Otedola Oil Business
According to our research, in 2013 Femi Otedola has an opportunity in the fuel retail market, Otedola invest in petroleum products marketing and distribution company by starting up company on is own Zenon Petroleum and Gas Ltd.
He invested N15 billion in downstream infrastructure development and acquired storage depots at Ibafon, Apapa as well as four cargo vessels, amounting to a combined total storage capacity of 147,000 metric tonnes as the founder and chairman of Zenon in 2014 and also gained fleet of 100 fuel-tanker trucks worth N1.4 billion that same year.
As off 2005, Zenon ruled largest share of the Nigerian diesel market, distributing fuel to major manufacturers company in Nigeria, some of the companies are: Dangote Group, Coca-Cola, Cadbury, Nigerian Breweries, Unilever, MTN, Guinness and Nestle.
Femi Oterola borrowed US$1.5 billion as working capital to build the largest premium motor spirit storage facility in Africa to Zenon which was approved by ten banks, that same year Zenon attained one of the Nigeria’s largest fuel marketer in 2007.
Femi Otedola has houses in Lagos, Abuja, Dubai, London and New York City.
Zenon invested across the financial sector, becoming the largest shareholder in a number of Nigerian banks including Zenith Bank and United Bank for Africa (UBA).
Zenon also became an important player in the kerosene market.
Femi Otedola Other Investment You Need To Know.
- Femi Otedola is the founder of CentreForce Ltd that specialize in finance, investments and trading, is also the owner of Swift Insurance.
- Otedola is chief executive and president of SeaForce Shipping Company Ltd and was one of largest ship owner after extending control over the distribution of diesel products in Nigeria. One flat bottomed bunker vessel with a storage capacity of 16,000 metric tonnes is one of otedola shops and that was the first of its kind in Africa.
- Forte Oil rebranded to Adrova PLC in 2020
- Otedola was elected to be a non-executive director of Transnational Corporation of Nigeria Plc in January the year 2016 for five years, the post which come to end on February, 2011. Transnational corporation of Nigeria Plc is a multi-sectoral conglomerate which waa established in 2004 by former President Olusegun Obasanjo to respond to market opportunities requiring heavy capital investment in Nigeria and across sub-Saharan Africa.
- Otedola also invested in real estate from the Federal Government which gave him a gained of the money worth N2.3 billion in February 2007 by Zenon Stallion House in Victoria Island in Lagos.
- Otedola is the founder of FO Properties Ltd.
- Otedola was appointed chairman of the Transcorp Hilton Hotel in Abuja and tasked with driving its expansion and upgrade to a seven star facility on March 2007.
Otedola is also a philanthropist
Otedola established Michael Otedola University Scholarship Scheme in 1985 which mission is to benefit students less privilege in Lagos State access to higher education.
More than a thousand students has be assisted by the scheme otedola established.
Otedola has severally donate to the Michael Otedola University Scholarship Scheme, Zenono donated N200 million to the scheme fund in 2015.
The great philanthropist(Otedola) make a donation of N300 million personally for the execution of the National Ecumenical Centre, the Nigeria’s primary place of Christian worship located in Abuja.
Otedola is one of the philanthropists that gave N200 million to the State Security Trust Fund in order to reduce crime in Lagos State in 2017.
Otedola later that year he donated N100 million to the Otedola College of Primary Education in Noforija, Epe.
University of Port Harcourt also gained from otedola generosity by donating N80 million to the faculty of agriculture in 2018.
Otedola pledge 25,000 dollars to the Super Eagles in the match against Algeria in the 2019 AFCON which he later fulfilled.
Date Of Birth: 4 November 1962 (age 57)
Place Of Birth: Ibadan, Oyo State, Nigeria
Net worth: US$275million (2017)
Spouse: Nana Otedola
Parent: Sir Michael Otedola
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You Need To Know
In July 2020, Femi Otedola was listed as one of the top 100 Most Reputable Africans. He said on Instagram that Honored to be listed amongst the top 100 Most Reputable Africans by reputation poll international, a leading global management firm known globally for its annual ranking of the 100 Most Reputable people on earth.