Femi Otedola is a Nigerian business mogul. Femi Otedola's net worth is currently estimated at $1.8 billion, according to Forbes records. Here is detailed information on Femi Otedola's net worth and biography. 

Who Is Femi Otedola?

Femi Otedola is a renowned Nigerian entrepreneur, humanitarian, and former CEO of Forte Oil Plc. He is also recognized as a fuel product importer. Additionally, he is the father of the well-known Nigerian DJ, DJ Cuppy.

Based on Forbes' records, Femi Otedola's net worth is presently estimated at $1.8 billion. He was born on November 4, 1962, in Ibadan, to Lady Doja and Michael Otedola, who served as Lagos State Governor from 1992 to 1993.

Femi Otedola established Zenon Petroleum and Gas Ltd. and owns various other companies, including those in shipping, finance, and real estate. Furthermore, he has recently invested in power generation as part of Nigeria's power sector liberalization initiative.

Apart from his business ventures, Femi Otedola is also known for his fitness regime, spending at least one hour at the gym every day.

How Many Children Does Femi Otedola Have?

Femi Otedola has four children from two different relationships, namely:

• Tolani Otedola

• Florence Ifeoluwa (DJ Cuppy)

• Elizabeth Temi

• Fewa

Tolani Otedola is Femi's first daughter and the only child from his first ex-lover, Olayinka Odukoya. There are claims that Femi's mother refused him to marry Tolani's mother after she was born, and he eventually left Olayinka to marry Nana Otedola.

Fewa, Femi's son, was diagnosed with autism at birth. DJ Cuppy, Femi's second daughter, is a prominent DJ, music producer, and tourism ambassador for Nigeria. She also served as the official disc jockey during the 2015 inauguration of Nigeria's President Muhammadu Buhari.

Temi Elizabeth, Femi's youngest daughter, is an aspiring designer and style blogger. She has also recently made her acting debut in Kunle Afolayan's forthcoming movie, "Citation." Femi Otedola owns homes in various locations, including Lagos, Abuja, Dubai, London, and New York City. Tolani Otedola is a singer and songwriter who prefers to maintain a low profile compared to her sisters.

Which School Did Femi Otedola Attend?

Femi Otedola enrolled at the University of Lagos Staff School and later proceeded to Obafemi Awolowo University in 1985, Ile-Ife Osun State, where he earned his first degree.

Following his education, he began his career as a marketing professional in his family's printing enterprise.

Who Is Femi Otedola First Wife?

Femi Otedola first wife is Olayinka Odukoya. Femi Otedola developed a romantic relationship with Olayinka Odukoya when he was employed in his family's printing company.

Despite sharing a deep affection and doing everything together, their relationship was unsustainable due to Femi's mother's disapproval. Even after Olayinka became pregnant, Femi's mother remained unwelcoming leading him to marry his second wife Nana Otedola who bore him three (3) children - a boy and two girls.

What Company Does Femi Otedola Own?

Femi Otedola is a hardworking Nigerian entrepreneur who has established a significant number of companies in Nigeria. The following are some of Otedola's companies:

• Zenon Petroleum and Gas

• Forte Oil

• Geregu Power Plc

About Femi Otedola Zenon Petroleum Gas

In 2003, Femi Otedola founded Zenon Petroleum and Gas Limited, a company that specializes in marketing and distributing petroleum products.

In the following year, he invested N15 billion towards developing downstream infrastructure. As a result, by 2005, Zenon had a significant share of the Nigerian diesel market and supplied fuel to major manufacturers such as Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle, and Guinness.

In the same year, Otedola's company made a major move by acquiring a 28.7 percent stake in African Petroleum, a leading fuel marketer in Nigeria. This acquisition was a turning point for Zenon.

In 2007, he acquired an additional 29.3 percent of African Petroleum for N40 billion, giving him a controlling stake of 58 percent in the company.

Besides diesel, Zenon diversified its investments and became a major player in the kerosene market. The company also made significant investments in the financial sector and became the largest shareholder in several Nigerian banks, including Zenith Bank and United Bank for Africa (UBA).

About Femi Otedola Forte Oil

In December 2010, African Petroleum was rebranded and renamed Forte Oil PLC, under the leadership of Femi Otedola. Otedola carried out a significant restructuring of the business, with a focus on improving corporate governance and technology. As a result, Forte Oil returned to profitability in 2012.

In 2013, as part of the Federal Government's plan to revamp Nigeria's power sector, Otedola financed 57% of Forte Oil's subsidiary, Amperion Ltd, which acquired the 414 MW Geregu Power Plant for $132 million.

Forte Oil is an oil marketing and power generation company that owns over 500 gas stations across Nigeria. It was originally a Nigerian subsidiary of British Petroleum (BP) and has its own line of engine oils as well as oil storage depots.

In 2013, under Otedola's leadership, Forte Oil purchased a government-owned stake in a gas-fired power plant located in Kogi State, Nigeria.

In September 2015, Swiss commodities giant Mercuria announced plans to acquire a 17% stake in Forte Oil for $200 million. However, as of late February 2016, the transaction had not yet been completed.

In June 2019, Femi Otedola completed his divestment from Forte Oil after selling the company to Prudent Energy Services Ltd. The deal had been in the works for several months, and Otedola confirmed the sale on his Instagram profile.

Otedola was listed as a dollar-denominated billionaire in March 2009 by Forbes, becoming the second Nigerian after Aliko Dangote to achieve this feat. This was after he acquired a controlling stake in Africa Petroleum and was appointed chairman and CEO of the company. His estimated net worth was $1.2 billion at the time.

How Old Is Femi Otedola?

Femi Otedola is 60 years now. He was born on the 4th of November 1962 into the family of Lady Doja and Michael Otedola.

How Old Is Femi Otedola Wife?

Femi Otedola wife is 56 years. Nana Otedola was born on the 2nd of August 1966. She is the second wife of the business mogul.

How Old Is Femi Otedola First Daughter?

Femi Otedola first daughter Tolani Otedola is 37 years old. She was born on the 21st of April 1986. Her mother is Olayinka Odukoya the first wife of the business mogul.

What Is Femi Otedola Net Worth?

Ascertaining the actual net worth of Femi Otedola is difficult because he has investments in different businesses. However, Forbes estimated Femi's net worth at $1.8b in 2016.

Forbes estimated Femi's net worth at $1.8b in 2016.