Femi Otedola is a Nigerian businessman, investor, philanthropist, and the Group Managing Director of Forte Oil Plc, a Nigerian petroleum and gas company. He is also the chairman of Zenon Petroleum and Gas Limited, a Nigerian petroleum and gas exploration and production company. He is a philanthropist and donates millions of dollars to charity through his private family foundation, the Femi Otedola Foundation.
Otedola was born in Lagos to a Nigerian father and an English mother. He attended King's College Lagos and graduated in 1983 with a Bachelor's degree in Geology from the University of Lagos.
In 1984, he began working for Texaco and later became a manager for Chevron in 1992. He left Chevron in 1995 and formed Forte Oil with a $24,000 loan from his father.
In 2005, Otedola was listed among the world's top 50 young entrepreneurs by BusinessWeek. He received the Ernst & Young Entrepreneur of the Year Award in 2005 and was also selected as part of the "Global Leaders for Tomorrow" by the World Economic Forum. In 2010, he was ranked number 5 on Forbes' list of Nigeria's richest men. That year, Forbes magazine estimated Otedola's net worth to be $1.4 billion.
In 2011, The Banker magazine ranked Otedola as the 19th richest black person in the world, placing him ahead of Oprah Winfrey. According to the magazine, he has a net worth of $1.6 billion.
Otedola is married to Bolanle Otedola (née Fawole). They have four children, three girls and a boy.
In April 2013, Otedola was kidnapped by gunmen on his way to work in Lagos. He was released after a ransom of $40 million was paid. The kidnappers were arrested and convicted in July 2013.
In 2014, Otedola was voted number 4 on the list of most influential persons in Nigeria by TheCable.
In 2015, Otedola was selected as one of the world's top 10 most influential black businessmen by the American television network CNBC.
In 2016, Otedola was ranked number 2 on Forbes' list of Nigeria's richest men, with an estimated net worth of $2.9 billion.
In 2017, Otedola was ranked number 4 on Forbes' list of Nigeria's richest men, with an estimated net worth of $2.9 billion.
In 2018, Otedola was ranked number 3 on Forbes' list of Nigeria's richest men, with an estimated net worth of $3.4 billion.
In 2018, Otedola was ranked number 2 on Forbes' list of Nigeria's richest men, with an estimated net worth of $3.4 billion.
Otedola was ranked as the richest person in Nigeria in 2018, with an estimated net worth of $3.4 billion.
Otedola is a member of the Board of Trustees of the Nigerian Film Institute (NFI) and the Global Shapers Community, a community of influential leaders who influence others to improve their lives by changing their own. He is also a member of the Board of Trustees of the Nigerian Institute of International Affairs (NIIA), an independent, non-profit think tank established in 1977. He is also a member of the Board of Trustees of the Lagos Business School, a private business school in Lagos, and the Chairman of the Eleko Foundation, a charitable foundation which was established in 2011. He is a member of the Advisory Board of the National Centre for Strategic Studies (NCSS), a research institution established by the Nigerian government in 2016. He is a member of the Advisory Board of the Nigerian Council for International Cooperation (NCIC), a non-profit organization established in 2012. In January 2016, he was appointed to the Board of Directors of the Nigerian Stock Exchange (NSE).
In June 2018, Otedola was ranked number 3 on Forbes' list of Nigeria's richest men, with an estimated net worth of $3.4 billion.
In July 2018, Otedola was ranked number 1 on Forbes' list of Nigeria's richest men, with an estimated net worth of $4.3 billion.
In January 2019, Otedola was ranked number 2 on Forbes' list of Nigeria's richest men, with an estimated net worth of $4.3 billion.
Otedola was awarded the Lifetime Achievement Award for Business Leadership by the Nigerian Academy of Letters in 2013. He was inducted into the Nigerian Business Hall of Fame in 2013.
In February 2014, Otedola was awarded the International African Master of Business Administration (IAMBA) Award for Leadership and Excellence in Business by the International Economic Development Council. He was also awarded the African Inspiration Award for Business Leadership by the African Leadership Initiative for Business in 2014.
In January 2015, Otedola was awarded the Nigerian National Order of Ikoyi.
In December 2015, Otedola was awarded the International African Master of Business Administration (IAMBA) Award for Leadership and Excellence in Business by the International Economic Development Council. He was also awarded the African Inspiration Award for Business Leadership by the African Leadership Initiative for Business in 2016.
In 2018, Otedola was awarded the Grand Officer of the Order of the Niger by the President of the Republic of Niger, Mahamadou Issoufou.
In October 2018, Otedola was awarded the African Leadership Award for Business Leadership by the African Leadership Initiative for Business.
In October 2018, Otedola was awarded the Nigerian National Order of the Niger.
In December 2018, Otedola was awarded the African Leadership Award for Business Leadership by the African Leadership Initiative for Business.
In January 2019, Otedola was awarded the African Leadership Award for Business Leadership by the African Leadership Initiative for Business.
In January 2019, Otedola was awarded the Lifetime Achievement Award for Business Leadership by the Nigerian Academy of Letters.
In February 2019, Otedola was awarded the International African Master of Business Administration (IAMBA) Award for Leadership and Excellence in Business by the International Economic Development Council. He was also awarded the African Inspiration Award for Business Leadership by the African Leadership Initiative for Business in 2019.
In March 2019, Otedola was awarded the Nigerian National Order of Ikoyi.
In April 2019, Otedola was awarded the Lifetime Achievement Award for Business Leadership by the Nigerian Academy of Letters.
In August 2019, Otedola was awarded the International African Master of Business Administration (IAMBA) Award for Leadership and Excellence in Business by the International Economic Development Council. He was also awarded the African Inspiration Award for Business Leadership by the African Leadership Initiative for Business in 2020.
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