His father was a prominent Nigerian who served as the Governor of Lagos State between and Otedola has been known with his entrepreneur spirit right from when he was a kid. In , 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.
As owner and chairman of Zenon, in he invested N15 billion in downstream infrastructure development and acquired storage depots at Ibafon, Apapa as well as four cargo vessels, amounting to a combined total storage capacity of , metric tonnes. The same year he acquired a fleet of DAF fuel-tanker trucks for N1. Later that year Zenon acquired a As well as diesel, Zenon also became an important player in the kerosene market. In Zenon was among a number of companies named in a report into an alleged fuel subsidy scam.
Lawan was charged with corruption in February In Femi Otedola was appointed chairman and chief executive of Africa Petroleum through the acquisition of a controlling stake in the business. In December that year he personally acquired a further In , in response to public concerns over the availability and pricing of kerosene, African Petroleum launched an initiative to saturate the market and sell the fuel at N50 per litre from more than service stations across Nigeria.
Difficult economic conditions caused by the slump in world oil prices and credit squeeze of —09 led African Petroleum to record a loss in Femi Otedola carried out a restructuring of the business, focusing on technology and improved corporate governance.
Forte Oil returned to profit in Revenue growth for the whole year was 33 per cent. In November Otedola returned to the Forbes rich list having dropped off it following the fall in share price during In September Forte Oil sold 17 per cent of its equity to Swiss commodity trader Mercuria Energy Group, giving Forte access to global commodity markets.
In he was among a group of donors who gave N million to the State Security Trust Fund in a drive to reduce crime in Lagos State. Femi Otedola has made several donations to the Michael Otedola University Scholarship Scheme, which was established in to give underprivileged students in Lagos State access to higher education. He believes in God and miracles. There was a time he suffered from heart disease. He was healed by a church known as Omega Power Ministry in Nigeria. Although Femi Otedola is not interested in getting political post through election, h has contributed a lot to the government of Nigeria.
He has assisted in improving the level of education in Nigeria through donations for the construction of infrastructures and he also renders assistance to the less privilege who intend going to school but lack financial wherewithal.
So if God has great plans for you, he has to teach you how to crawl before you learn how to walk. There is no successful businessman today that has not gone through the ups and downs. He would later ask his father to buy him a briefcase. It was alleged that after the birth of Tolani Otedola, Femi's mother had refused her son marrying Tolani's mother, Olayinka.
Femi Otedola later left Olayinka and got married to Nana Otedola. Fewa, the son of Femi Otedola was diagnosed with an autism disorder at birth. She was also the official disc jockey during the May inauguration of Nigeria's President Muhammadu Buhari. DJ Cuppy's younger sister, Temi Elizabeth, is a style blogger and aspiring designer. Recently, there are reports that she made her acting debut in Kunle Afolayan's upcoming movie, "Citation". Tolani Otedola is a singer and songwriter.
Unlike the other two sisters, she likes keeping a low profile. Femi Otedola gifted 3 brand new Ferrari Portofino cars to his three daughters all in the same day. The Otedolas set the Nigerian internet ablaze on that very day, with many Nigerians short of words on Twitter.
Femi Otedola is an industrious Nigerian, and he has a good number of companies he owns in Nigeria. Below is a list of Otedola's companies:. Femi Otedola setup Zenon Petroleum and Gas Limited, a petroleum products marketing and distribution company in In , he invested N15 billion in downstream infrastructure development, thus by , Zenon controlled a major share of the Nigerian diesel market.
The year was a crucial year for Otedola's company Zenon. He acquired a In December he personally acquired a further As well as diesel, Zenon also became an important player in the kerosene market.
I had about 93 per cent of the diesel market on my fingertips. Otedola carried out a restructuring of the business, focusing on technology and improved corporate governance. Forte Oil returned to profit in Femi Otedola of Nigeria was the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company.
It owns oil storage depots and manufactures its own line of engine oils. In , Otedola led the company to purchase a government-owned stake in a gas-fired power plant in Kogi state North-Central Nigeria. Mr Otedola shared this on his Instagram Profile, confirming a deal that has been in work for months.
He made the Forbes' list after he was appointed chairman and chief executive of Africa Petroleum through the acquisition of a controlling stake in the business.
0コメント