Femi Otedola is one of Nigeria’s best-known businessmen, investors and philanthropists. Over several decades, he has built a career across commodities, oil and gas, power generation, banking, real estate and other investments.
His business journey has also gone through major changes. Otedola was once widely associated with the petroleum business through Zenon Petroleum and Forte Oil. In later years, he shifted much of his attention toward electricity generation and financial services. He is now particularly known for his involvement with First HoldCo, the parent company of FirstBank, as well as his investments in other major Nigerian businesses.
As of September 2026, Forbes’ real-time billionaire tracker lists Femi Otedola’s net worth at about $1.9 billion, although billionaire wealth estimates can change frequently because they are affected by share prices and asset valuations.
This article looks at Femi Otedola’s biography, age, wife, children, businesses, career, sources of wealth and philanthropic activities in simple terms.
Who Is Femi Otedola?
Femi Otedola, whose full name is Olufemi Peter Otedola, is a Nigerian businessman, investor and philanthropist. He was born on November 4, 1962, in Ibadan, Oyo State, Nigeria.
As of September 2026, Femi Otedola is 63 years old.
He is the son of the late Sir Michael Otedola, who served as Governor of Lagos State from 1992 to 1993. Otedola began his working life in his family’s business before eventually establishing businesses of his own.
His career is notable because he has moved through different industries rather than depending on a single company or source of income. His business interests have included petroleum products, power generation, banking, real estate and investments.
Forbes describes Otedola as a self-made billionaire whose original fortune came from commodities and energy-related businesses.
Femi Otedola Age and Date of Birth
Femi Otedola was born on November 4, 1962.
Therefore, he is 63 years old in 2026 and will turn 64 in November 2026.
His age is often searched alongside his biography because Otedola has remained active in Nigerian business well into his sixties. Rather than retiring from business, he has continued to reposition his investments as opportunities have changed.
Femi Otedola Early Life and Background
Otedola grew up in a family connected to business and public service. His father, Sir Michael Otedola, was a prominent Nigerian businessman and politician.
According to accounts of Otedola’s life and his memoir, Making It Big, he did not follow the conventional university education route that many people associate with successful business leaders. He has explained that academic difficulties pushed him away from formal education and toward business.
His early exposure to business came through his father’s printing business. That experience gave him an opportunity to learn about sales, customers and commercial operations from an early age.
Instead of allowing his educational experience to define his future, Otedola developed practical business skills and eventually started building companies independently.
This part of his story is often highlighted because it demonstrates that entrepreneurship can involve a different path from the traditional academic route. However, his experience should not be interpreted as an argument against education. Business success depends on many factors, including knowledge, discipline, experience, opportunity and decision-making.
How Femi Otedola Started His Business Career
Otedola’s early business activities included commodities and petroleum-related trading.
In the 1990s, he established Centre Force Ltd., marking an important stage in his transition from working in the family business to developing his own commercial interests. He later became prominent in Nigeria’s petroleum distribution industry.
One of the companies strongly associated with his rise was Zenon Petroleum and Gas Ltd. Zenon became an important supplier of diesel and other petroleum products to major Nigerian businesses.
His activities in the petroleum industry eventually helped him build substantial wealth and positioned him for larger investments.
Otedola later acquired a controlling interest in African Petroleum, which was subsequently transformed into Forte Oil Plc. Under his leadership, the company expanded beyond its traditional downstream petroleum operations and became involved in energy-related investments.
Femi Otedola and Forte Oil
Forte Oil was one of the most important chapters in Femi Otedola’s business career.
The company operated in Nigeria’s petroleum downstream sector, with interests that included fuel distribution and related energy activities. Otedola became chairman and a major shareholder of the company.
However, he eventually decided to sell his stake in Forte Oil.
The sale was an important strategic decision because it allowed him to redirect his attention toward other opportunities, particularly power generation. Forbes notes that Otedola made his first fortune in commodities before selling his Forte Oil shares and moving further into the energy business.
His exit from Forte Oil also demonstrates one of the most important features of his business strategy: selling an asset when he believes the money can be deployed more effectively elsewhere.
Femi Otedola and Geregu Power
Another major part of Otedola’s business story is Geregu Power Plc, a Nigerian electricity generation company.
Otedola became a major shareholder in Geregu Power and helped make the company one of the better-known publicly traded power businesses in Nigeria.
For several years, Geregu was an important part of Otedola’s wealth. However, his ownership position changed significantly.
In 2025, Otedola sold his controlling interest in Geregu Power for approximately $750 million, while retaining a 5% stake, according to Forbes.
The decision illustrates how his investment strategy has evolved. Rather than holding on to an asset indefinitely, Otedola has shown a willingness to sell a major investment and redirect capital toward another opportunity.
Reports in 2026 also linked proceeds from the Geregu transaction to investments connected with the Dangote Refinery opportunity.
Femi Otedola and First HoldCo
In recent years, banking has become an increasingly important part of Femi Otedola’s investment portfolio.
He is chairman of First HoldCo Plc, the parent company of FirstBank of Nigeria. He also holds a significant investment in the company.
First HoldCo’s share-price performance has had a major effect on Otedola’s estimated wealth in 2026. As the value of the shares increased, the value of his investment also rose.
Forbes’ real-time data placed his wealth at approximately $1.9 billion as of September 6, 2026.
Earlier in 2026, reports had placed his fortune considerably lower. This difference shows why Femi Otedola’s net worth should not be treated as a fixed amount.
A billionaire’s net worth is generally an estimate of the value of assets such as company shares, properties and other investments. It does not necessarily mean the person has the entire amount sitting in a bank account.
Femi Otedola Net Worth in 2026
So, how much is Femi Otedola worth?
As of September 2026, Forbes estimates Femi Otedola’s real-time net worth at about $1.9 billion.
This figure can change from day to day because part of his wealth is connected to publicly traded investments.
His wealth has historically been linked to several areas, including:
- Energy and utilities
- Banking and financial services
- Petroleum and commodities
- Real estate
- Corporate investments
- Other private and public assets
Forbes also reports that Otedola owns properties in locations including Lagos, Dubai, London and Monaco and has held investments in Nigerian financial institutions.
It is important to distinguish between net worth and cash. If a person owns shares worth $1 billion, those shares form part of the person’s wealth, but the person does not necessarily have $1 billion available to spend.
Femi Otedola Wife
Femi Otedola is married to Nana Otedola.
Nana Otedola has generally maintained a lower public profile than her husband, although she has appeared publicly with members of the family and has been associated with entrepreneurship.
Reports identify her as the founder of Garment Care, a laundry and dry-cleaning business.
The Otedolas have maintained a relatively private approach to some aspects of their family life despite their high public profile.
Femi Otedola’s marriage and family have nevertheless attracted significant public interest because of the achievements of his children in entertainment, fashion and other fields.
Femi Otedola Children
Femi Otedola has four children: Tolani Otedola, Florence Ifeoluwa Otedola (DJ Cuppy), Temi Otedola and Fewa Otedola.
His children have pursued different interests and careers, making the Otedola family well known beyond the business world.
Tolani Otedola
Tolani Otedola is Femi Otedola’s eldest daughter and a singer and songwriter.
She has released music and pursued a career in entertainment while maintaining a comparatively lower public profile than some of her siblings.
Tolani is Femi Otedola’s daughter from an earlier relationship.
DJ Cuppy
Florence Ifeoluwa Otedola, popularly known as DJ Cuppy, is one of Femi Otedola’s most famous children.
She is a Nigerian DJ, music producer and media personality who has built an international career in entertainment.
Her professional identity is separate from her father’s business career, although her connection to the Otedola family has naturally contributed to public interest in her life.
Temi Otedola
Temi Otedola is an actress, fashion personality and digital creator.
She gained attention through fashion blogging before moving further into acting and other creative projects. She appeared in the Nigerian film Citation and has continued developing her career in entertainment and fashion.
Temi has also built her own public identity rather than simply being known as the daughter of a billionaire.
Fewa Otedola
Fewa Otedola is Femi Otedola’s only son.
Compared with his sisters, Fewa maintains a much more private life. The family has occasionally shared information about him, but he is not as involved in the public spotlight as some other members of the family.
Femi Otedola Businesses and Investments
Femi Otedola’s business empire has changed considerably over time.
Some of the major companies and sectors associated with his career include:
1. Zenon Petroleum and Gas
Zenon Petroleum and Gas was an important part of Otedola’s rise in the Nigerian energy industry. The company became known for supplying petroleum products to major businesses.
2. Forte Oil
Otedola was the chairman and controlling shareholder of Forte Oil before selling his interest. The company played a major role in his first major wealth-building phase.
3. Geregu Power
Geregu Power became one of his most important investments in electricity generation. Otedola later sold his controlling interest while retaining a minority stake.
4. First HoldCo
First HoldCo has become one of the most important parts of Otedola’s current investment portfolio. His position in the financial services group has been closely connected to changes in his estimated net worth.
5. Real Estate
Otedola has also invested in real estate. Forbes reports property holdings in locations including Lagos, Dubai, London and Monaco.
These investments provide another layer of diversification beyond energy and banking.
Femi Otedola Philanthropy
Beyond business, Femi Otedola is also known for philanthropic activities.
He has supported causes involving education, healthcare, vulnerable people and social welfare. His philanthropic activities have included donations to institutions and individuals facing financial difficulties.
Philanthropy has become an important part of his public image, particularly because of his high-profile donations to public causes.
However, it is useful to distinguish between verified charitable donations and claims circulating online. Not every figure or story published on social media can be independently confirmed, so readers should rely on credible reporting when assessing the size and impact of specific donations.
What Makes Femi Otedola Successful?
Femi Otedola’s career provides several lessons about entrepreneurship and investment.
First, his career shows the importance of adaptation. He moved from commodities and petroleum into power generation and later increased his exposure to financial services.
Second, he has demonstrated the willingness to sell investments and redeploy capital. His exit from Forte Oil and later reduction of his Geregu Power position are examples of changing strategy when circumstances change.
Third, diversification has played an important role. Although energy was central to his early success, his investments have expanded into banking, real estate and other sectors.
Finally, Otedola’s story shows that wealth can fluctuate significantly. His estimated fortune has moved up and down over the years, particularly as the value of his publicly traded investments has changed.
Frequently Asked Questions About Femi Otedola
How old is Femi Otedola?
Femi Otedola was born on November 4, 1962. He is 63 years old in 2026.
Who is Femi Otedola’s wife?
Femi Otedola is married to Nana Otedola, an entrepreneur associated with Garment Care.
How many children does Femi Otedola have?
Femi Otedola has four children: Tolani, DJ Cuppy, Temi and Fewa Otedola.
What is Femi Otedola’s net worth in 2026?
Forbes’ real-time billionaire profile lists Femi Otedola’s net worth at approximately $1.9 billion as of September 6, 2026. The figure can change as the value of his investments changes.
What businesses does Femi Otedola own?
Otedola’s business interests have included petroleum, power generation, banking, real estate and other investments. He is currently particularly associated with First HoldCo, while he previously held major positions in Forte Oil and Geregu Power.
Is Femi Otedola still involved in Geregu Power?
Yes, but his position has changed. Forbes reports that he sold his majority stake in Geregu Power in 2025 and retained a 5% interest.