Early Life and Education
Femi Otedola was born on November 4, 1962, in Ibadan, Oyo State, Nigeria, into a prominent family. His father, Sir Michael Otedola, served as the Governor of Lagos State from 1992 to 1993. Growing up, Otedola was exposed early to business and leadership, which helped shape his entrepreneurial instincts. He attended Obafemi Awolowo University (OAU), Ile-Ife, where he studied and later ventured into business with a focus on marketing, finance, and oil trading.
Business Career
Otedola is best known as the founder of Zenon Petroleum and Gas Ltd, a major player in the Nigerian oil and gas industry. Through Zenon, he became one of the biggest suppliers of diesel products to major manufacturing and transport companies in Nigeria. His success in the oil sector established him as one of the country’s most influential businessmen in the early 2000s.
Beyond oil, Otedola has diversified his investments into shipping, real estate, banking, and power generation. He is the former chairman of Forte Oil Plc, a major downstream petroleum company, which he later divested from in order to refocus on the energy and power sector. His current focus is on Geregu Power Plc, where he is chairman, driving investments in Nigeria’s electricity generation sector.
Philanthropy
Otedola is also known for his generous philanthropic work. Over the years, he has donated billions of naira to causes in education, healthcare, and poverty alleviation. Notably, he contributed ₦5 billion to the Save the Children Foundation through his daughter, DJ Cuppy’s foundation, making it one of the largest individual donations in Nigeria’s history.
He has also supported victims of disasters, funded scholarships, and contributed to medical care for prominent Nigerians in need, reinforcing his image as a compassionate business leader.
Personal Life
Femi Otedola is married to Nana Otedola, and together they have four children, including Florence Ifeoluwa Otedola, popularly known as DJ Cuppy, Temi Otedola (an actress and fashion entrepreneur), and Fewa Otedola. His family is well-known in both the business and entertainment worlds.
Otedola maintains a relatively private lifestyle but is respected as one of Nigeria’s most influential business icons, admired for his resilience, foresight, and philanthropic impact.
Legacy and Influence
With decades of influence in Nigeria’s oil and energy sectors, Otedola remains a symbol of entrepreneurship, innovation, and giving back to society. From building one of the largest energy companies in Nigeria to his record-breaking philanthropic donations, he has cemented his place as one of the country’s most impactful business leaders.
