1) Epe-born businessman Mr. Femi Otedola is now the 4th richest man in Nigeria, according to Forbes, as he is currently worth $1.2 billion.
2) Otedola’s wealth is tied to the following investment:
He owns 70% of Geregu power.
Geregu Power operates in the Nigerian power sector, with generating plants in Ajaokuta, Kogi state
Geregu is one of Nigeria’s leading GENCOs that uses gas turbines as a clean energy source to generate power.
He is also the majority shareholder in First Bank, as he owns more than 5% stake of the bank.
Apart from First Bank, he owns a significant stake in Zenith Bank.
Otedola holds significant premium real estate assets in Lagos, Dubai, London, and Monaco.
3) All these and more are what propelled him to become Nigeria’s 4th richest man,and he is richer than Tony Elumelu and Jim Ovia at the moment.
Only Aliko Dangote, Abdul Samad of BUA Cement, and Mike Adenuga are richer than him in the whole country.
4) The recent valuation by Forbes coincides with Otedola’s philanthropic gesture of donating N1 billion to the Lagos State Security Trust Fund, underscoring his commitment to giving back.
Last year, he donated 1 billion naira to St. Augustine University, located in his home town, Epe, Lagos.
A donation that also covered the last-semester school fees of the 750 students at the catholic owned private university
5) Femi Otedola is a symbol of inspiration to my generation of builders.
In 2014, he lost everything he had to Nigerian banks, over $1 billion at that time.
Just like the mythical Greek bird, phoenix, he has bounced back from the set back.
Reminding us again and again na who give up fuck up, las las.
