Femi Otedola: 5 Mega Assets in His Portfolio 

Femi Otedola is one of Nigeria’s most successful businessmen and investors  known for his strategic approach to building businesses. His diverse portfolio of investments spans several industries, including power, oil and gas, hospitality, and financial services, amongst others.

Over the years, Otedola has acquired and sold stakes in several companies, demonstrating his ability to identify growth opportunities and exit investments when the time is right. In this article, we would look at some of his mega assets.

Transnational Corporation of Nigeria (Transcorp)

Femi Otedola’s investment in Transnational Corporation Plc (Transcorp) is one of his most significant investments. Transcorp is a Nigerian conglomerate with interests in several industries, including power generation, hospitality, agriculture, and oil and gas. 

In January 2006, Otedola was appointed a non-executive director of Transnational Corporation of Nigeria Plc which he held till February 2011.

Femi Otedola recently acquired about 2.245 billion shares of Transnational Corporation Plc becoming the second largest shareholder of the company.

Geregu Power plant

Femi Otedola acquired a majority stake in the Geregu Power Plant, a 435 megawatt thermal power plant in Kogi State. He joined the board of Geregu Power Plc as Chairman of the Board of Directors in November 2013.

Otedola acquired a controlling stake in the power plant in 2013, investing $94 million through his then investment company, Forte Oil Plc as a strategy to expand his company’s operations into the power sector and contribute to Nigeria’s efforts to improve its power supply.

Having invested another $350 million in the plant in 2018. Otedola, whose focus is now completely on the power plant, is set to invest $1 billion.

First Bank

Femi Otedola’s stake in First Bank of Nigeria Holdings Plc (FBNH), Nigeria’s oldest commercial bank, rose  above $12 million in the first half of 2021. Otedola acquired another 2.5 percent additional interest in the company in addition to his piecemeal acquisition of 5.07 percent bringing his total stake to 7.57 per cent.

After his 5.07 per cent equity stake, Otedola emerged a major shareholder of First Bank Holdings.

SeaForce shipping company

Another mega investment from Billionaire Femi Otedola is his acquisition of SeaForce Shipping Company. Femi Otedola is the chief executive and president of SeaForce Shipping Company Limited, one of the biggest shipping companies in Nigeria. The company is the first in Africa to acquire a flat bottomed bunker vessel with a storage capacity of 16,000 metric tonnes.

The company was incorporated in 2001 and currently owns and manages a modern tanker fleet of four vessels, namely Mt. Sir Micheal, Mt. Lady Doja, Mt. Nana and Mt. Zenon Conquest, aggregating 60,158 metric tons that transport petroleum products.

One of his ships, a flat bottomed bunker vessel with a storage capacity of 16,000 metric tonnes, was the first of its kind in Africa.

Zenon Petroleum and Gas Limited

Another of Femi Otedola investments is Zenon Petroleum and Gas, a gas and oil operation company which he founded in 1999. Zenon Petroleum Limited is one of the world’s leading drilling and engineering contractors working onshore and offshore with a focus on safety, quality and operational performance.