real estate and finance. He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.
Otedola was born in Ibadan, the capital of Oyo State, south west Nigeria, into the family of the late Sir Michael Otedola, Governor of Lagos State from 1992 to 1993.
In 2003, having identified an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company.
In 2007, Otedola was appointed chairman and chief executive of Africa Petroleum through the acquisition of a controlling stake in the business. In December 2010, African Petroleum rebranded, changing its name to Forte Oil PLC Otedola carried out a restructuring of the business, focusing on technology and improved corporate governance
In March 2009, Otedola became the second Nigerian after Aliko Dangote to appear on the Forbes list of dollar-denominated billionaires, with an estimated net worth of $1.2 billion.
In 2012,[39] Femi Otedola was reported by reliable media houses[40] to have given bribe to Boniface Emenalo and Farouk Lawan who was at then, the Chairman of the House Committee on Fuel Subsidy Regime, "integrity group" a sum of $620,000.[41] The reason reported by witnesses as pertains the actions of Femi Otedola was that he wanted the name of his company removed from the list of firms indicted by Farouq Lawan's committee for abusing the fuel subsidy regime in 2012
Otedola is married to Nana Otedola and has three daughters – Christine Olawunmi, Florence Ifeoluwa and Elizabeth Temi—and a son, Fewa.[53] Florence Otedola, aka DJ Cuppy, is a DJ and music producer, as well as a tourism ambassador for Nigeria. Her younger sister, Temi, is a style blogger and aspiring designer. Otedola has homes in Lagos, Abuja, Dubai, London and New York City.
Happy Birthday to him.
GUYS, WHAT DO YOU THINK?
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FACEBOOK COMMENTS
Hapidiamond Lazarus
Who that one elp, for his house abeg..... Anyway I'm happy for him but let them help those that are sick and in serious pains.,..
Endy Edeson
Happy birthday to you Alfred. You and Otedola are both billionaires . November 4th is a lucky day to be born
