Nigerian businessman Femi Otedola is the chairman of Forte Oil Plc. This self-made billionaire’s net worth is estimated at $1.3 billion, according to Forbes.
Femi was born in the year 1967 in Epe, Lagos State, Nigeria. His father Sir Michael Otedola served as the governor of Lagos state.
Femi Otedola has a controlling stake (78 percent) in Forte oil, which owns gas stations and fuel storage depots. It manufactures its own line of engine oils. He is the owner of multibillion naira indigenous oil behemoth Zenon, a dominant force in the diesel business among oil marketing concerns. It supplies fuel used to power generating sets of many companies in Nigeria, including Cadbury, Dangote Group, Coca Cola, MTN, Nigerian Breweries, Nestle, Unilever and Guinness.
Today Zenon boasts of a total diesel storage capacity of more than 147,000 metric tons. It is the biggest depot owner in Nigeria, with the largest single storage capacity in the country. Otedola is also the biggest ship owner in Nigeria.
Femi Otedola is married to Nana. The couple has four children; three daughters and one son. One of his daughters, Florence Ifeoluwa Otedola, is a music producer. She is also known as DJ Cuppy. Femi Otedola lives in Lagos.