FEMI OTEDOLA: THE SUCCESSFUL BUSINESS TYCOON.


Femi Otedola (born 1962) is a Nigerian businessman, entrepreneur philanthropist, and chairman of Forte Oil Plc, an importer of fuel products. He is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He is the second Nigerian after Aliko Dangote to be included on the Forbes list of dollar-denominated billionaires. He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.
He hails from Oyo state in Nigeria. In 2003, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a Petroleum Products Marketing And Distribution Company.  In 2004 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 147,000 metric tonnes. The same year he acquired a fleet of 100 DAF fuel-tanker trucks for N1.4 billion.

By 2005, Zenon controlled a major share of the Nigerian diesel market, supplying fuel to most of the major manufacturers in the country including Dangote Group, Cadbury, CocaCola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness.
In January 2006, Femi Otedola was appointed as a non-executive director of Transnational Corporation of Nigeria Plc, a multi-sectoral conglomerate established in 2004 by then President Obasanjo until February 2011.

In March 2009, Femi 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 1994, Femi Otedola established CentreForce Ltd, specialising in finance, investments and trading. He is also the owner of Swift Insurance.
Otedola currently serves as chief executive and president of SeaForce Shipping Company Ltd and was at one point Nigeria’s largest ship owner after extending control over the distribution of diesel products. One of his ships was the first of its kind in Africa.

Femi Otedola has also made a number of real estate investments, including a N2.3 billion acquisition in February 2007 by Zenon of Stallion House in Victoria Island Lagos. The following month he was appointed chairman of the Transcorp Hilton Hotel in Abuja and tasked with driving its expansion and upgrade to a seven star facility. He is the owner of FO Properties Ltd. Femi Otedola has been reported to be a major financier of the People's Democratic Party.
Without much ado Femi Otedola is one of the most successful business men in Nigeria who has transformed his establishments into multimillion worth brand with his reputable entrepreneurial skills.