Femi Otedola’s Upcoming Autobiography: How the Billionaire Made It

Nigerian billionaire Femi Otedola is about to open a new chapter in his already storied life this time, in his own words.

In his long-awaited autobiography, the 62-year-old businessman and philanthropist plans to share the full arc of his rise from his early days at his father’s printing press to becoming one of Africa’s most influential entrepreneurs in energy and finance.

Otedola’s announcement has stirred excitement, especially among young Nigerians hungry for real-world business wisdom. 

But this book is not just a highlight reel of business wins; it promises an intimate look into the risks, sacrifices, and defining moments that shaped his legacy.

“I’ve walked this path myself, facing challenges and breakthroughs that shaped not just my career, but my outlook on what it means to succeed,” Otedola recently wrote on his social media pages.

This isn’t just a billionaire flexing his success, it’s a man reflecting on a lifetime of hard decisions and hard-earned lessons.

From printing ink to petroleum

Femi Otedola’s story doesn’t begin in a corporate boardroom or at an elite foreign university. It begins in Lagos, born into a political family, his father, Sir Michael Otedola, was once governor of Lagos State. 

As a teenager, he worked at his father’s printing press, learning the basics of business and work ethic long before he made his first big break.

By the 1990s, during Nigeria’s turbulent economic period, Otedola launched Centerforce Limited, a finance and investment firm. But it was in 1999 at age 37 that he made a bold leap into Nigeria’s chaotic petroleum industry. 

He founded Zenon Petroleum and Gas Limited, a move many thought was too risky. It turned out to be a masterstroke.

Otedola realized early that controlling the supply chain was crucial. So, in 2001, he founded Seaforce Shipping Company Limited, a response to the foreign dominance in the shipping business. 

Within six years, Seaforce had grown into Nigeria’s largest privately-owned shipping company, boasting a fleet with over 150,000 metric tons of capacity. 

The names of his ships, Mt. Sir Michael, Mt. Lady Doja, Mt. Nana honored those closest to him, a reminder that even in business, his roots mattered.

How he became Nigeria’s diesel king

By the mid-2000s, Zenon controlled more than 90% of Nigeria’s diesel market. That’s not a typo. Major players like Dangote Group, MTN, Nestlé, and Coca-Cola depended on his supply chain to keep their machines running and lights on.

In 2004, he doubled down, investing over ₦15 billion to expand storage depots and acquire four new fuel-carrying ships. That same year, he bought 100 tanker trucks to push fuel distribution into all corners of the country. His bold, infrastructure-heavy strategy cemented Zenon’s dominance.

In 2007, he secured a $1.5 billion syndicated loan from ten Nigerian banks, the kind of financing that would intimidate even seasoned CEOs to build Africa’s largest PMS storage facility. 

Then came his acquisition of African Petroleum, which he rebranded as Forte Oil. By 2008, his stake alone was worth over $1.2 billion. At age 46, he joined the Forbes billionaires list, only the second Nigerian after Aliko Dangote to do so.

The power pivot

But Otedola isn’t one to stand still. In 2013, he made a major shift into Nigeria’s power sector, acquiring a 414-megawatt power plant during the federal government’s privatization of electricity assets. 

This acquisition led to the birth of Geregu Power Plc, now one of Nigeria’s top power producers.

In 2018, he exited the downstream oil business, selling off Forte Oil and focusing entirely on energy generation and finance, two sectors he believes are essential for Nigeria’s long-term economic future.

His instincts were spot on. Geregu Power’s net profit rose from ₦24.4 billion in 2023 to ₦41.27 billion in 2024, showing both growth and stability. The Nigerian Exchange even named Geregu the Most Compliant Listed Company of the Year, a nod to its strong governance.

How Otedola built his future with FirstHoldco

In recent years, Otedola has turned his attention to the financial sector. As chairman of FirstHoldco Plc, the holding company of First Bank of Nigeria, he’s now steering one of the country’s oldest institutions into a new era.

In 2024, FirstHoldco posted gross earnings of over $2 billion and reported total assets of $17.46 billion. Under his leadership, the bank has begun constructing a towering new 44-story headquarters in Eko Atlantic, signaling a fresh, ambitious chapter in its history. 

The groundbreaking event drew some of Nigeria’s biggest names, including Vice President Kashim Shettima and Aliko Dangote.

He has a legacy that gives back

Otedola’s story isn’t just about accumulating wealth, it’s about impact. In 2019, he donated a record-breaking $14 million to Save the Children U.K., the largest single donation ever made by a Nigerian.

The gift wasn’t just a headline—it reflected his philosophy about success. “In my life, in my journey, I have taken the risk, I have done the chase, I have enjoyed the thrill, I have achieved success and recognition. What next? You give it back,” he said.

The book – Femi Otedola

Now, at 62, Otedola says he’s ready to reveal the story behind the numbers. His autobiography will not only walk readers through his business decisions, it will highlight his mindset, the failures he learned from, and the values that guided him.

It’s a message aimed squarely at Nigeria’s next generation of entrepreneurs, founders, and dreamers: yes, the system is tough but it’s not impossible.

In a country where the odds often feel stacked, Femi Otedola’s story is proof that bold vision, disciplined execution, and the willingness to take risks can still shape destinies. And soon, thanks to this upcoming book, we’ll get to read how he did it page by page, from the man himself.