Femi Otedola

Femi Otedola (born 4 November 1962) is a Nigerian entrepreneur and philanthropist. He is the founder of Zenon Petroleum and Gas Ltd. and the former chairman of Forte Oil PLC.

Early Life

Femi Otedola was born in Ibadan, Oyo State, into the family of Sir. Michael Otedola, the governor of Lagos State from 1992 to 1993.

Career

In 1994, Femi Otedola established CentreForce Ltd., specializing in finance, investments and trading. He is the owner of Swift Insurance. In 2003, he founded Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company. By 2005, Zenon controlled a majority share in the Nigerian diesel market.

In 2007, he was appointed chairman and chief executive of Africa Petroleum. The company was rebranded in December 2010, changing its name to Forte Oil. In 2019, Femi Otedola sold Forte Oil PLC and announced plans to change focus from oil to power with his company, Geregu Power Plc.

In March 2009, Femi Otedola became the second Nigerian after Aliko Dangote to appear on the Forbes list of billionaires with an estimated net worth of $1.2 billion. In October 2021, Femi Otedola became the single largest shareholder (5.07%) of First Bank PLC.

Personal Life

Femi Otedola has a daughter Tolani from his former partner, Olayinka Odutola and three children from his wife, Nana Otedola. Together they have two daughters, Florence Ifeoluwa and Temi Elizabeth, and a son, Fewa Otedola.