Femi Otedola biography: Discover his net worth, age, wife Nana, children, education, business career, early life and journey to becoming a Nigerian billionaire.
Femi Otedola is a Nigerian billionaire businessman, investor and philanthropist widely recognised for his achievements in the oil and gas, power generation and financial services industries. Born Olufemi Peter Otedola on November 4, 1962, he built his reputation through strategic investments, business expansion and an ability to identify opportunities in changing markets.
He is particularly known for founding Zenon Petroleum and Gas, leading Forte Oil and investing heavily in Geregu Power and First HoldCo. His business journey has involved major successes, difficult financial periods and significant changes in investment strategy.
Beyond business, Otedola is known as the father of popular Nigerian personalities Florence Otedola, professionally known as DJ Cuppy, and fashion entrepreneur Temi Otedola. He is also married to Nana Otedola and has four children.
Femi Otedola’s estimated net worth was listed at approximately $1.6 billion by Forbes on November 10, 2026. His wealth reflects decades of business activities and investments across several industries.
This biography explores his early life, education, family background, business career, personal life and the journey that established him as one of Nigeria’s most prominent entrepreneurs.
See also: Seyi Vibez Biography: Net Worth, Age, Wife, Education, Family, Career & Early Life
Highlights of Femi Otedola Biography
- Full Name: Olufemi Peter Otedola
- Date of Birth: November 4, 1962
- Age: 64 years old as of November 2026
- Birthplace: Ibadan, Oyo State, Nigeria
- Nationality: Nigerian
- Profession: Businessman, investor and philanthropist
- Wife: Nana Otedola
- Children: Four
- Father: Sir Michael Otedola
- Estimated Net Worth: Approximately $1.6 billion according to Forbes’ November 10, 2026 profile
- Known For: Zenon Petroleum, Forte Oil, Geregu Power and First HoldCo
- Book: Making It Big: Lessons from a Life in Business
Early Life and Family Background
Femi Otedola was born on November 4, 1962, in Ibadan, Oyo State, Nigeria. He grew up in a prominent Nigerian family with strong connections to business and public service.
His father was Sir Michael Otedola, a Nigerian politician who served as the Governor of Lagos State from 1992 to 1993. His mother was Lady Doja Otedola.
Growing up in a family where business and public affairs were familiar subjects exposed Femi to entrepreneurship and leadership from an early age. His father’s involvement in business also gave him opportunities to observe how commercial activities were managed.
Otedola developed an interest in business while he was still young. He has spoken about his early exposure to his father’s printing business and how those experiences influenced his entrepreneurial ambitions.
Rather than following a conventional professional path, he became increasingly interested in identifying business opportunities and building companies.
His early experiences helped shape the practical approach to business that would later become a defining part of his career.
Education
Femi Otedola received his secondary education in Nigeria. He attended Methodist Boys’ High School and Olivet Baptist High School.
There have been conflicting reports about his university education. Some biographical records have associated him with Obafemi Awolowo University and the London College of Printing. However, reports discussing his 2025 memoir, Making It Big: Lessons from a Life in Business, indicate that he did not complete a university degree.
Otedola has described practical business experience, observation and lessons from his father’s activities as important parts of his development.
His career demonstrates how business experience, financial discipline and the ability to recognise opportunities can contribute to entrepreneurial success, although formal education remains valuable in many professional fields.
Career and Professional Journey
Early Business Activities
Before becoming widely recognised as an oil and gas businessman, Otedola gained experience in his family’s business environment.
He was involved in the printing industry and later established interests in different commercial activities. These early ventures helped him understand business operations, customer relationships and investment opportunities.
His entrepreneurial activities gradually expanded into shipping, finance, insurance and petroleum distribution.
Establishment of Zenon Petroleum and Gas
One of the most important turning points in Otedola’s career came in 2003 when he established Zenon Petroleum and Gas Limited.
The company focused on petroleum product marketing and distribution. At a time when Nigeria’s economy depended heavily on petroleum products, Otedola identified opportunities in supplying fuel to businesses and industrial customers.
Zenon grew significantly and became an important player in Nigeria’s diesel distribution market.
The company supplied petroleum products to major businesses, including manufacturing and telecommunications companies. Its expansion helped establish Otedola as a major figure in the Nigerian energy industry.
His success in petroleum distribution provided the financial foundation for several of his later investments.
Forte Oil and the Nigerian Petroleum Industry
Otedola later became associated with African Petroleum, which was subsequently rebranded as Forte Oil.
As chairman and controlling shareholder, he pursued a strategy aimed at improving the company’s operations and expanding its presence in Nigeria’s petroleum market.
Forte Oil operated in different areas of the downstream petroleum industry, including fuel marketing and distribution.
However, Otedola eventually decided to change his investment direction. In 2019, he completed the sale of his controlling stake in Forte Oil to Prudent Energy.
The transaction marked an important shift in his business interests, allowing him to focus more heavily on power generation and other investments.
Geregu Power Investment
Following his exit from Forte Oil, Otedola increased his involvement in Nigeria’s electricity sector.
He became a major investor in Geregu Power, one of Nigeria’s electricity generation companies. The company became an important part of his business portfolio.
Geregu Power was listed on the Nigerian Exchange in 2022, providing investors with an opportunity to participate in the company’s ownership.
Otedola’s investment in the power sector reflected his interest in the long-term importance of electricity to Nigeria’s industrial and economic development.
In 2025, he sold his majority interest in Geregu Power in a major transaction reportedly worth approximately $750 million. He retained a 5% stake in the company.
Investment in First HoldCo
Otedola also developed a significant interest in Nigeria’s financial services industry through investments in FBN Holdings, which later became First HoldCo.
He began building his position in the financial group in 2021 and became chairman in January 2024.
His increasing shareholding attracted considerable attention in Nigeria’s financial market. By 2026, he had continued purchasing shares through direct holdings and investment vehicles linked to him.
His involvement in First HoldCo reflects his expanding interests beyond petroleum and electricity into banking and financial services.
Other Business Interests
Apart from his major investments in petroleum, electricity and banking, Otedola has interests in other sectors.
His business portfolio has included shipping, real estate, insurance and other commercial investments.
He also owns properties in international locations, including Lagos, Dubai, London and Monaco, according to Forbes.
In addition to his business activities, Otedola has supported charitable causes, particularly initiatives connected to education and vulnerable children.
His Book: Making It Big
In 2025, Otedola published his memoir, Making It Big: Lessons from a Life in Business.
The book discusses his entrepreneurial journey, investment experiences, business setbacks and the principles that influenced his decisions.
It also provides insights into his experiences in the Nigerian business environment and his approach to identifying opportunities.
The publication offers readers an opportunity to understand the experiences behind his rise as one of Nigeria’s most recognisable business figures.
Femi Otedola Net Worth and Lifestyle
Femi Otedola is one of Nigeria’s wealthiest businessmen, with investments across energy, banking, real estate and other industries.
According to Forbes’ real-time billionaire profile, his estimated net worth stood at approximately $1.6 billion as of November 10, 2026.
His wealth has changed over the years as the value of his investments and publicly traded shares has fluctuated. In September 2026, Nairametrics reported that Forbes’ real-time billionaire data had placed his fortune at $2 billion.
Some of the major assets and business interests associated with his wealth include:
- Investments in First HoldCo.
- A retained 5% interest in Geregu Power following the sale of his majority stake.
- Previous ownership and leadership interests in Forte Oil.
- Investments in financial services and other businesses.
- Real estate holdings in Lagos, Dubai, London and Monaco.
- Interests in shipping and other commercial ventures.
Otedola is also known for his luxurious lifestyle. His property investments and international business activities reflect his financial success.
However, his wealth should not be understood as cash alone. Billionaire net worth estimates generally include the estimated value of business ownership, shares, properties and other assets, minus liabilities.
Personal Life: Wife and Children
Femi Otedola is married to Nana Otedola, who is known for maintaining a relatively private public profile despite her family’s prominence.
The couple have three children together: Florence, Temi and Fewa. Otedola also has an older daughter, Tolani, from an earlier relationship.
His four children are:
Tolani Otedola: Tolani is a Nigerian singer and the eldest of Otedola’s children.
Florence Otedola (DJ Cuppy): Florence, popularly known as DJ Cuppy, is an internationally recognised Nigerian disc jockey, music producer and philanthropist. She is also known for her work through the Cuppy Foundation.
Temi Otedola: Temi is an actress, fashion entrepreneur and public personality. She has built a career in entertainment and fashion.
Fewa Otedola: Fewa is the youngest of the four children and generally maintains a private life away from the public spotlight.
Otedola has occasionally shared family moments on social media, showing his close relationship with his children.
Philanthropy and Social Contributions
Beyond his commercial activities, Femi Otedola has participated in charitable and educational initiatives.
He has supported projects aimed at improving access to education and providing assistance to vulnerable communities.
One of his notable contributions involved supporting the construction of a building at Augustine University in Epe, Lagos.
He has also supported the Michael Otedola University Scholarship Scheme, established in honour of his father, to help students from disadvantaged backgrounds access higher education.
Through his family and philanthropic activities, he has also contributed to humanitarian initiatives, including programmes supporting children in Nigeria.
His philanthropic activities have become another part of his public identity alongside his business career.
Conclusion
Femi Otedola’s journey from his early exposure to business in Nigeria to becoming a billionaire investor is an important story in the country’s entrepreneurial landscape.
Through companies such as Zenon Petroleum and Gas and Forte Oil, he established himself in the petroleum industry before expanding into power generation and financial services.
His investments in Geregu Power and First HoldCo demonstrate his willingness to move into different sectors as business opportunities change.
With an estimated net worth of approximately $1.6 billion according to Forbes’ November 2026 real-time profile, Otedola remains one of Nigeria’s most prominent business figures.
His story also highlights the importance of business experience, strategic investment, resilience and the ability to adapt to changing economic conditions.
FAQs About Femi Otedola
1. Who is Femi Otedola?
Femi Otedola is a Nigerian billionaire businessman, investor and philanthropist. He is known for his involvement in Zenon Petroleum and Gas, Forte Oil, Geregu Power and First HoldCo.
2. How old is Femi Otedola?
Femi Otedola was born on November 4, 1962. He is 64 years old as of November 2026.
3. What is Femi Otedola’s net worth?
Forbes estimated his net worth at approximately $1.6 billion as of November 10, 2026. His wealth fluctuates with the value of his investments and other assets.
4. Who is Femi Otedola’s wife?
Femi Otedola is married to Nana Otedola. She generally maintains a private lifestyle despite her family’s public profile.
5. How many children does Femi Otedola have?
Femi Otedola has four children: Tolani, Florence (DJ Cuppy), Temi and Fewa.
6. What did Femi Otedola study?
Otedola attended secondary schools in Nigeria, including Methodist Boys’ High School and Olivet Baptist High School. Although some sources have associated him with university institutions, reports about his 2025 memoir indicate that he did not complete a university degree.
7. How did Femi Otedola make his money?
Otedola built his fortune through petroleum trading and distribution, particularly through Zenon Petroleum and Gas. He later expanded into oil marketing, power generation, banking, real estate and other investments.