Femi Otedola Net Worth 2025
Written By
Joy EmehWriter| Editor| Content Strategist
Femi Otedola is a Nigerian business mogul, philanthropist, and former chairman of Forte Oil Plc, now officially known as Ardova PLC. Femi Otedola has an estimated net worth of $1.5 billion.
Femi Otedola is among the top 10 richest men in Nigeria in 2025, with a net worth of around $1.5 billion.
Femi Otedola was born on November 4, 1962. He is a businessman and the former chairman of Forte Oil PLC, an importer of fuel products.
Femi Otedola is the founder of Zenon Petroleum and Gas Ltd and the owner of several other businesses in shipping, real estate, and finance.
Femi Otedola has also invested in power generation as part of the liberalization of the sector in Nigeria, Africa's wealthiest nation.
An article on OXFAM International listed Femi Otedola, with a net worth of $1.5 billion, as one of the five richest Nigerians, adding that the wealth of the five richest men in Nigeria could end extreme poverty in the country.
Billionaire and business tycoon, Femi Otedola with a net worth of $1.5 billion gifted his daughters three Ferrari Portofino cars
In 2020, Femi Otedola gifted his three daughters a Portofino Ferrari car, each estimated to cost about $218,000. This got many people still interested in knowing Femi Otedola's net worth.
Femi Otedola's businesses and source of wealth
Femi Otedola is a dynamic Nigerian, and he owns many companies in Nigeria. Femi Otedola has made investments across the country and has shares in different companies.
Below is a list of Otedola's companies:
- Zenon Petroleum and Gas
- Forte Oil renamed Ardova Plc and currently owned by Prudent Energy Services Ltd
- CentreForce Limited
- Atlas Shipping Agency Company
- F.O Transport Limited
- Swift Insurance Brokers Limited
- Geregu Power Plc
Femi Otedola's high net worth would be attributed to the chain of businesses he handles. Femi Otedola was the former chairman of Forte Oil Plc (an importer of petroleum). He is also the founder of Zenon Petroleum and Gas Ltd.
Femi Otedola owns chains of other businesses that span different industries like real estate, shipping, and finance.
Femi Otedola delved into power generation and distribution to liberalize the power sector in Nigeria. In 2019, Otedola reportedly invested a whopping $350 million into Geregu, his power generation business. Here are more details on Otedola's source of wealth and companies;
1. Zenon Petroleum, and Gas Ltd
Zenon Petroleum and Gas Ltd owned by Femi Otedola is one of his big assets that have added to his net worth
Femi Otedola, one of the richest men in Nigeria with a net worth of over $1.5 million, has made a name for himself in the oil and gas sector.
Femi Otedola established his major company, Zenon Petroleum and Gas Ltd in 2003. Zenon Petroleum and Gas specializes in the distribution and marketing of petrol and petroleum products.
The business mogul, Otedola had invested 15 billion nairas in Zenon. This was used in acquiring cargo vessels and storage depots as well as in infrastructural development.
Otedola's Zenon company is a major controller of the diesel market and supplies petrol products to many top Nigerian manufacturing companies such as Coca-Cola, Dangote Group, owned by Aliko Dangote, Guinness, Unilever, Cadbury, Nestle, and MTN.
More on finance:
2. CentreForce Ltd
CentreForce Limited is another company owned by Femi Otedola. Otedola founded this company in 1994. CentreForce Limited focuses mainly on finance, trading and investment which has also added up to Femi Otedola net worth.
3. SeaForce Shipping Company Ltd
SeaForce Shipping Company Ltd is also owned by Otedola. Otedola was once recognized for being the largest ship owner in Nigeria. This shows that SeaForce Shipping Company Ltd is a large shipping company.
In fact, one of its vessels has a capacity of about 16,000 metric tonnes and it's reported to be the first vessel to have that large capacity in the whole of Africa. This company has Aldi contributed immensely to Otedola net worth in 2025
4. F.O. Transport Limited
F.O. Transport Limited is another company owned by Femi Otedola. Though there's not much information about F.O. Transport Limited publicly, it has helped increase Femi Otedola net worth.
5. Forte Oil (Now Ardova Plc)
In 2007, Femi Otedola acquired a stake in African Petroleum. He rebranded it to Forte oil which is now Ardova Plc. Otedola restructured the company in such a way that it's generated lots of revenue adding to his huge net worth before he sold it.
In 2019, Otedola sold 75% stake in the company to Prudent Energy Services Ltd and they rebranded to what is now known as Now Ardova Plc.
However, the sale of Forte oil never really had significant effect on Otedola net worth in 2025. This is probably because he re-invested the money in the power sector, Geregu Power Plc.
6. Geregu Power Plc
The Nigerian government constructed the Geregu Power Plant to generate power to the National grid in 2006.
However, Otedola acquired Geregu Power Plant in 2013 during the government power sector privatization initiative while he was still in charge of Forte oil.
After selling Forte oil, Otedola decided to focus on the energy sector. Femi Otedola invested a large portion of the money in Geregu Power Plc. This decision has in turn increased Femi Otedola net worth to what it's today.
7. Femi Otedola's Shares
Discussing Femi Otedola's net worth won't be complete without talking about share investments. Femi Otedola has invested in shares, particularly in the oil and gas sector, which has helped boost his net worth.
Femi Otedola had bought a 28.7% share in African Petroleum Limited. Because of Zenon's shares in African Petroleum, Otedola was later appointed the CEO and chairman of African Petroleum Ltd.
Later, Otedola acquired an additional 29.3% share in African Petroleum Ltd (making it a sum of 56% shares); thus, he became the largest shareholder of African Petroleum Ltd.
It wasn't long after that, African Petroleum Ltd was changed to Forte Oil PLC in 2010. and is now Ardova Plc in 2025.
During his time a the CEO, Femi Otedola made sure to improve the company's management and at the same time put the right technology in place.
Femi Otedola, a wealthy Nigerian businessman with a net worth of about $1.5 billion, is also one of the major shareholders in top Nigerian banks such as the United Bank for Africa (UBA), First bank, and Zenith bank.
8. Femi Otedola investment in First bank of Nigeria holding
Femi Otedola expanded his source of income by investing in first Bank of Nigeria holding Plc, the mother company of First Bank of Nigeria Limited.
In 2021, Femi Otedola acquired 5.07% stake which he further increased to 7.57% through direct purchase.
In 2024, Otedola went on to acquire more stakes in First Bank. Otedola purchased more shares and increased his stake to 9.41% and then to 11.63%.
In September 2024, Otedola purchased 534 million shares increasing his stakes again to 13.16%.
Otedola has acquired a lot of shares in First Bank making him the largest shareholder.
Femi Otedola was appointed chairman First Bank of Nigeria Holdings a position he took over from Ahmad Abdullahi.
This has also contributed significantly to Otedola's net worth in 2025.
9. Femi Otedola's Appointments
Being one of the richest men in Nigeria, it is expected that Femi Otedola, with an estimated net worth of $1.5 billion, would have held top positions in different organizations.
Forbes has listed Femi Otedola as one of Africa's richest men, alongside the likes of Aliko Dangote who is the richest man in Africa
Femi Otedola, the second Nigerian after Aliko Dangote to be included in Forbes's billionaire list because of his high net worth, is also a well-known philanthropist.
Indeed Otedola has climbed the success ladder when it comes to business, and aside from his assets, this is evident in his appointments and leadership roles across various organizations.
Here are a few of Femi Otedola's appointments in the years past:
- South Africa commercial relationship development committee member (2004)
- Nigerians National Economic Management Team member (2011)
- Non-executive director of Transnational Corporation of Nig. PLC (2006-2011)
- Chairman, Transcorp Hilton Hotel, Abuja (2007)
Also, Femi Otedola has made numerous donations to organizations. One such is a $14 million donation he made to Save The Children Fund.
Femi Otedola net worth in 2025
Femi Otedola net worth in 2025 is estimated to be about $1.5 billion As earlier stated, Femi Otedola owns lots of businesses scattered round the country including Zenon Petroleum and Gas, CentreForce Limited, Atlas Shipping Agency, F.O Transport Limited, Swift Insurance Brokers Limited, Geregu Power Plc.
These businesses have added up to Femi Otedola net worth in 2025. Femi Otedola net worth is also massive because of his numerous appointment which comes with some benefits.
Femi Otedola's assets, houses, cars
Since we are talking about Femi Otedola's net worth in 2025, we have to take into consideration his assets. Alongside companies and various business investments, Femi Otedola also owns luxurious assets like houses and cars.
Femi Otedola purchased real estate worth N2.3 billion from the Federal Government in 2007 through the Zenon of Stallion House.
Femi Otedola owns a number of luxurious home both within and outside Nigeria
Otedola owns expensive properties. He has a luxurious home in Ikoyi and another in Banana Island, both in Lagos. Femi Otedola also has a house in the capital city of Abuja.
Otedola also has houses in New York, London, and Dubai and lots of luxurious cars to his name.
Among Femi Otedola fleet of cars are two Rolls Royce custom-designed cars, which cost over $1 billion each, a Range Rover, a BMW 6 Series, a Mercedes Benz AMG 63, Mercedes Benz Mclaren SLR, valued at about N250 million.
The business mogul, Femi Otedola, with an estimated net worth of $1.5 billion, is also a proud owner of a private yacht and a private jet.