Billionaire Femi Otedola Awarded Investor of the Year 2024

Billionaire businessman Femi Otedola has been named “Investor of the Year 2024” by The Nation Newspaper. The award recognises his major contributions to Nigeria’s business world, especially through his leadership roles in Geregu Power and FBN Holdings.

Otedola became the Chairman of FBN Holdings in January 2024 and quickly brought big changes to the company. 

His leadership helped improve the bank’s performance, making it stronger and more profitable. These achievements were a key reason for his recognition.

According to The Nation, Otedola’s ability to turn around FBN Holdings and Geregu Power made him stand out in 2024. His reforms brought exciting returns for investors, and his leadership inspired confidence in the stock market.

The success of FBN Holdings

FBN Holdings’ stock price grew by 19.11% in 2024, closing the year at N28.1 per share. At one point, the stock reached a high of N43.95. 

The company also saw a 128% increase in profit before tax, reaching N610.86 billion in just the third quarter of the year. Otedola, who owns 13.15% of the company’s shares, played a major role in driving this growth.

Geregu Power’s Incredible Growth

Geregu Power, the first power generation company listed on the Nigerian Stock Exchange, has also seen huge success under Otedola. Its stock price skyrocketed by 1,050% since its listing in 2023, closing at N1,150 per share in 2024. 

The company’s market value now exceeds N2.88 trillion, putting it in the elite SWOOT (Stocks Worth Over One Trillion) category. Geregu also doubled its profit after tax to N24.1 billion in the first nine months of 2024, supported by a 102% increase in revenue.

Strong Leadership and Governance

At FBN Holdings, Otedola brought in experienced professionals to improve operations and strengthen governance. Similarly, Geregu Power has earned a reputation for following good corporate practices, which has increased trust among investors.

Giving Back to Society

Beyond business, Otedola is known for his generosity. He has donated to healthcare, education, and disaster relief efforts, showing his commitment to helping communities while achieving business success.