Femi Otedola Net Worth

Femi Otedola has an estimated net worth of $1.8 billion, according to Forbes Real-Time Billionaires, Femi Otedola profile (figures as of October 20, 2026). That is up from $1.2 billion in 2009.

Femi Otedola is a Nigerian businessman known for building wealth in commodities, fuel marketing, and power. He founded Zenon Petroleum and Gas Ltd in 2003 after spotting an opening in fuel retail. Zenon grew fast in diesel and kerosene, and later bought a major stake in African Petroleum. In 2007, he became chairman and chief executive of that company, which later changed its name to Forte Oil PLC.

His business focus later shifted from oil to electricity. In 2013, he financed 57% of Forte Oil subsidiary Amperion Ltd, which bought the 414 MW Geregu Power Plant for $132 million. He sold Forte Oil in 2019 and said he planned to focus on power through Geregu Power Plc. In 2025, he sold his majority stake in Geregu Power for roughly $750 million, while keeping a 5% holding in the Lagos-based company.

How Femi Otedola built his fortune

Otedola made his first money in commodities, then expanded into fuel distribution and storage. Through Zenon, he invested in depots, cargo vessels, and tanker trucks, helping the company become a major diesel supplier by 2005. He later moved into public markets by buying into African Petroleum, then took control of the company and led its rebrand to Forte Oil in 2010. That fuel and trading base helped set up his later move into power.

Power became the next chapter. In 2013, Forte Oil's subsidiary Amperion bought the 414 MW Geregu Power Plant, giving Otedola a major position in electricity generation. He later sold Forte Oil in 2019 to focus on Geregu Power. He also sold down a stake that had once been more than 95% to bring in institutional investors, including the Nigerian government, the Afrexim Fund for Export Development in Africa, and State Grid Corporation of China.

Forbes net worth and recent moves

Forbes has tracked large swings in Otedola's fortune over the years. It put him at $1.2 billion in 2009, then $1 billion in 2015. More recently, Forbes estimated $1.4 billion for 2024, $1.5 billion for 2025, and $1.3 billion for 2026. Those changes match a career that moved from fuel marketing and listed oil assets into power generation, stake sales, and holdings in other Nigerian financial companies.

A big money event came in 2025, when Otedola sold his majority stake in Geregu Power and pocketed roughly $750 million, according to Forbes. He still kept a 5% stake in the company. Forbes' real-time billionaires tracker showed him at $1.8 billion as of October 20, 2026. Beyond energy, he also owns properties in Lagos, Dubai, London, and Monaco, and holds shares in Zenith Bank and FBN Holdings.