From 2016 to 2023: How billionaire Femi Otedola amassed wealth overtime

Femi Otedola, Nigerian billionaire businessman and philanthropist, has amassed an impressive fortune over the years through a combination of astute investments and entrepreneurial acumen.

His dedication to hard work and giving back to the society has seen his rise to not only wealth, but also fame.

Mr Otedola's journey to wealth began with early investments in the family business.

He initially worked with his father in the marketing department of the family-owned printing business.

However, Otedola's ambition pushed him to pursue new opportunities. He ventured into the commodities trade, focusing on importing and exporting various products, including sugar, salt, and textiles.

Founding Zenon Petroleum and Gas Ltd.

One of the turning points in Otedola's career was the founding of Zenon Petroleum and Gas Ltd in 2003.

Under his leadership, the company became a major player in the Nigerian oil and gas sector. Zenon's success was due to its focus on the distribution of petroleum products, lubricants, and gas across the country, a crucial industry in Nigeria's economy.

Otedola's ability to navigate the complexities of the oil and gas sector and establish valuable partnerships played a pivotal role in amassing significant wealth. His commitment to delivering high-quality products to consumers earned him a solid reputation within the industry.

In 2010, Mr Otedola acquired a controlling stake in African Petroleum, a downstream oil company, and later rebranded it as Forte Oil.

The company expanded its presence and diversified into power generation and distribution.

Under Otedola's leadership, Forte Oil became a household name in Nigeria's energy sector.

Timeline of Femi Otedola's net-worth

Total net worth in 2015 - $1.0 billion

Total net worth in 2016 - $1.85 billion

Total net worth in 2017 - $1.85 billion

Total net worth in 2018 - $1.2 billion

Total net worth in 2023 - $5.7 billion

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