Early Life & Career Foundation
Femi Otedola was born on November 4, 1962, into a prominent Lagos family. His father, Sir Michael Otedola, served as governor of Lagos State, giving Femi early exposure to public service and business.
He worked in his father’s printing press before striking out on his own, eventually founding CentreForce Ltd in 1994 as a finance, investments, and trading company.
Unlike many business magnates, Otedola has shared that he did not complete advanced formal education, instead learning through hands-on business experience—a lesson he calls his real “classroom.
Rise to Leadership in the Lagos Market
In the early 2000s, Otedola made a bold move into shipping. He built Seaforce Shipping Company, growing it into one of Nigeria’s largest private tanker fleets. This shipping capacity allowed him to supply a large portion of Nigeria’s diesel market—fueling major companies and industrial growth.
He then founded Zenon Petroleum & Gas Ltd, a downstream energy business that procures, stores, markets, and distributes refined petroleum products.
His growing influence in energy culminated in his acquisition of Forte Oil Plc, a major fuel marketer, which he later sold to pivot more decisively into power.
Major Achievements & Impact Highlights
Geregu Power Plc: Otedola chairs this large power-generation company. He owns a significant share, and under his leadership, Geregu has become a major player in Nigeria’s energy infrastructure.
Zenon Petroleum & Gas: His downstream energy company remains an influential brand in Nigeria’s oil marketing sector.
Shipping: Through Seaforce, he developed a fleet that contributed significantly to Nigeria’s diesel supply.
Banking / Finance: Otedola holds big stakes in financial institutions like FBN Holdings, and he has board roles that connect him deeply with Nigeria’s financial sector.
Philanthropy: His charitable work includes major educational projects. He supports the Sir Michael Otedola Scholarship Awards Foundation and has contributed heavily to Augustine University, Lagos.
Global Recognition: According to Forbes, his net worth is in the billions (US$ ~1.6B as of Nov 2025). Forbes
Contribution to the Lagos Job Market & Economic Growth
Femi Otedola’s businesses employ and support thousands of people in Lagos across multiple sectors:
Energy: Geregu Power’s operations require technical staff, engineers, operations teams, and administrative personnel. This directly boosts job creation in Lagos and across Nigeria.
Distribution and Logistics: Through Zenon Petroleum & Gas and his shipping business, he has created employment in logistics, transport, maintenance, and operations—all critical for Lagos’s industrial economy.
Finance: His investments in banks add to Lagos’s capacity as a financial hub, helping fund local businesses, SMEs, and entrepreneurs.
Education & Social Impact: His philanthropic efforts support students from Lagos (and beyond), helping develop talent and create future skilled workers.
These contributions strengthen Lagos’s talent pipeline, improve economic inclusivity, and help reduce unemployment by giving more Nigerians access to job opportunities.
Influence Across Nigeria, Africa & the Global Stage
While much of Otedola’s business is rooted in Lagos, his impact resonates nationally and regionally:
In Nigeria, his leadership in power helps address chronic energy challenges, contributing to industrial growth and economic stability.
In Africa, his model of energy investment inspires other entrepreneurs. Geregu Power’s growth demonstrates how private capital can support critical infrastructure.
Globally, his visibility as a philanthropist aligns him with international development agendas. He has donated to global causes (e.g., Save the Children) and supports youth education, which contributes to human capital development.
Mission, Vision & Leadership Philosophy
Femi Otedola is driven by the principle that business should create real social value. His mission blends profitability with impact: building sustainable infrastructure, empowering youth, and contributing to Nigeria’s development.
He often speaks of giving back—he believes his wealth and success should translate into educational access, opportunity, and strong institutions.
For the future, Otedola envisions:
Expanding Geregu’s power capacity
Deepening his financial services footprint
Continuing to support education and community development
Personal Values & Legacy
Family: He is married to Nana Otedola and has four children, including DJ Cuppy and Temi Otedola.
Humility & Learning: Despite his wealth, he attributes much of his success to learning by doing—running his father’s business, building from scratch, and embracing risks.
Philanthropy: He supports education (scholarships, university funding), health, and youth development.
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