- Full Name: Femi Otedola
- Date of Birth: November 4, 1962
- Nationality: Nigerian
- Profession: Businessman, Philanthropist
- Known For: Former owner of Forte Oil, Chairman of Geregu Power Plc
- Net Worth: Estimated over $1.7 billion
- Family: Father of DJ Cuppy, Tolani, Temi, and Fewa Otedola
- Notable Recognition: One of Africa’s most influential business leaders
1. Full Name and Stage Name (Aliases)
Femi Otedola’s birth name is Femi Otedola. He is not known to use a separate stage name and is generally referred to simply as Femi Otedola. There are no widely recognised aliases associated with him.
2. Early Life and Background
Femi Otedola was born on 4 November 1962 in Ibadan, Oyo State, Nigeria. His father, Michael Otedola, served as Governor of Lagos State from 1992 to 1993, and his mother is Lady Doja Otedola. Although born in Ibadan, he hails from Epe in Lagos State and grew up between Ibadan and Lagos in a family environment that blended business and public service.
As a child, Otedola struggled with academics; he has admitted that school was difficult for him, as he often repeated classes, performed poorly, and eventually realised that formal academics were not suited to him.
3. Education
Otedola began his primary education at the University of Lagos Staff School in 1968 and completed it in 1974. He then attended Methodist Boys’ High School, Lagos, before later transferring to Olivet Baptist High School, Oyo, where he continued his secondary education as a boarder.
He stayed in school until finishing his Lower Sixth (A-level equivalent) but did not continue to Upper Sixth. As a result, he did not complete high school formally and did not attend university. In his memoir Making It Big, he clarified that his formal academic journey ended before tertiary education.
4. Career Beginnings
After leaving school, Otedola joined his father’s printing business, Impact Press, in Surulere, Lagos. There he worked across various roles, including operations, management, marketing, and correspondence, which allowed him to gain hands-on business experience.
By 1987, at the age of 25, he had risen to become the managing director of the company. During this period, he also pursued sales and marketing contracts for calendars, diaries, and other print products, building relationships with advertising agencies and corporate clients.
In 1994, he established Centre Force Ltd. with a seed capital of ₦10 million, marking his first independent step into business with a focus on finance, trading, and investment. This transition signified his move from working under his father’s company to carving out his own entrepreneurial path.
5. Rise to Fame / Breakthrough Moment
Otedola’s breakthrough came with the founding of Centre Force Ltd. in 1994, which gave him an independent identity in business. He later ventured into the oil and gas industry, establishing Zenon Petroleum and Gas, which became a major supplier of fuel to leading Nigerian manufacturers such as Coca Cola, MTN, Nestle, and Unilever.
His influence grew significantly through his leadership of major companies, most notably Forte Oil and later Geregu Power, solidifying his reputation in both the energy and power sectors. Alongside business success, his philanthropy and eventual publication of his memoir Making It Big: Lessons from a Life in Business in 2025 further cemented his standing as one of Nigeria’s most prominent entrepreneurs.
6. Major Achievements and Awards
Femi Otedola has received several recognitions for both his business leadership and philanthropy. He was honoured with the African Philanthropist of the Year award in 2019 by African Leadership magazine, and in 2025 he was named Activist Investor and Market Maker of the Year at the Capital Market Choice Awards for his strategic influence in Nigeria’s capital markets.
He has also been celebrated as ThisDay Philanthropist of the Decade and received the national honour of Officer of the Order of the Federal Republic (OFR) in 2023. Earlier in his career, he won African CEO of the Year in the maiden African Leadership Awards, solidifying his reputation as a leading entrepreneur.
7. Style and Personality
Otedola is often described as a man of restless ambition and vision. From an early age, he displayed a strong drive to create opportunities and push boundaries. In business, he is regarded as highly strategic, particularly in his ability to diversify investments and shift focus at the right time, such as moving from oil and gas into the power sector.
His philanthropic style is also notable for its high visibility, with large public donations that have made a wide social impact. On a personal level, he is family-oriented, often placing emphasis on the successes and public roles of his children.
8. Personal Life
Femi Otedola is married to Nana Otedola, and together they have four children: three daughters and one son. His daughters include Florence Ifeoluwa Otedola, popularly known as DJ Cuppy, who is an international DJ and music producer, Temi Otedola, who is an actress and fashion influencer, and Tolani, who is a singer.
His only son, Fewa, keeps a relatively private life. Otedola is known for maintaining strong family ties and often appears in public with his children, who also have their own notable achievements.
9. Philanthropy and Social Impact
Otedola is widely regarded as one of Nigeria’s most generous philanthropists. In 2019, he made global headlines with a $14 million donation to Save the Children UK through his daughter’s foundation, which was one of the largest single charitable contributions from an African individual at the time.
He has also invested heavily in education, funding the construction of a multistory building at Augustine University in Epe in honour of his mother, and providing scholarships to students.
His philanthropy extends to security, where he has contributed to the Lagos State Security Trust Fund, and to healthcare, where he has supported individuals by covering medical bills for former athletes, actors, and others in need. During the COVID-19 pandemic, he played a role in relief efforts, further showcasing his commitment to social impact.
10. Controversies and Public Criticism
Despite his achievements, Otedola has faced controversies. In 2012, he was implicated in a fuel subsidy scandal, accused of attempting to bribe members of the Nigerian House of Representatives’ committee investigating subsidy abuses.
Though the case attracted significant attention, it was contested in court. In 2016, he was drawn into a public scandal involving two sisters in Toronto who claimed to have evidence of an affair and allegedly attempted to blackmail him, which he strongly denied.
He has also faced criticism over the visibility of his philanthropy, with some questioning whether his large donations always target the most pressing social needs.
- Net Worth and Lifestyle
As of recent estimates, Femi Otedola’s net worth is about $1.5 billion, derived primarily from his ventures in oil, gas, power generation, and banking. He owns luxury residences in Lagos, London, Dubai, and other international locations, reflecting his global lifestyle. His taste for luxury is evident in his collection of high-end cars, including Rolls-Royce, Mercedes-Benz, and McLaren models, as well as ownership of a private jet. Despite his wealth, he balances this lifestyle with a strong focus on philanthropy and investment in Nigeria’s future through his diverse business interests.
12. Recent Activities / Current Projects
In recent years, Femi Otedola has shifted focus from oil and gas into power generation and other investments. He sold his majority stake in Forte Oil in 2019 and rebranded the company as Geregu Power Plc, which has become a key player in Nigeria’s energy sector. Geregu Power Plc was later listed on the Nigerian Exchange, marking a significant step in Otedola’s transition to the power industry. Beyond energy, he continues to diversify his investments into finance, infrastructure, and philanthropy, keeping him relevant in both business and social sectors.
13. Influence and Legacy
Femi Otedola is regarded as one of Nigeria’s most influential businessmen and philanthropists. His impact on Nigeria’s oil and energy sector is widely acknowledged, and his business strategies have inspired a generation of entrepreneurs.
He is also celebrated for his contributions to youth empowerment, social causes, and his ability to leverage wealth for societal good. His legacy includes not only building companies but also creating platforms that foster economic growth and development in Nigeria.
14. Social Media and Online Presence
Otedola maintains a vibrant presence on social media, especially Instagram, where he often shares moments from his personal and family life, business updates, and philanthropic gestures. His posts frequently feature his children, who are also public figures, making his account popular among both business enthusiasts and pop culture followers. His engaging style online has helped him connect with a younger audience and maintain visibility beyond corporate circles.
15. Quotes and Personal Statements
Otedola is known for his straightforward and reflective quotes about wealth, success, and life. He once famously remarked, “Money is not everything, but happiness is.”
He often emphasizes family values, philanthropy, and the need to live a meaningful life beyond the accumulation of wealth. These personal statements reflect his outlook on balancing business success with personal fulfillment and social responsibility.
16. Interesting Facts
Femi Otedola is the father of Florence Ifeoluwa Otedola, popularly known as DJ Cuppy, a globally recognized disc jockey and music producer. He once trended online for gifting each of his three daughters a Ferrari, which sparked conversations on wealth, parenting, and luxury in Nigeria.
Another interesting fact is that despite being known for his oil wealth, Otedola has strategically moved away from petroleum to focus on sustainable investments like power. He is also an avid art collector and has shown interest in supporting Nigeria’s creative industries.
- Conclusion
Femi Otedola’s journey from a young businessman in Lagos to a global business magnate reflects resilience, strategic thinking, and a strong sense of purpose.
Beyond his influence in the oil and energy sector, his philanthropy and lifestyle choices have kept him in the public eye. His story remains a benchmark for aspiring entrepreneurs in Africa, showcasing that success can be achieved through vision, diversification, and a commitment to social impact.
