Nigerian billionaire Femi Otedola nears $2-billion net worth as naira strengthens
Otedola’s focus on operational efficiency across his portfolio has fueled earnings growth and valuations.
Femi Otedola
Nigerian billionaire Femi Otedola’s power company rakes in $40-million revenue in Q1 2024
The remarkable feat follows the company’s strong financial performance in 2023, where revenue surpassed the $90 million mark
Publicly listed companies linked to Nigerian billionaire Femi Otedola are worth $12.9 billion combined
The market value of the publicly listed companies he holds stakes in has surged to N16.7 trillion ($12.9 billion), highlighting his impact not only on the firms he manages but also on those in which he holds significant ownership.
Femi Otedola returns to world’s billionaires list as global billionaire wealth hits $14.2 trillion
With Otedola’s return to the billionaire ranks, Africa now boasts 20 billionaires, up from 19 in 2023 and 18 in 2022.
Nigerian billionaire Femi Otedola sees net worth jump to $1.7 billion
This surge is attributed to the strong performance of his diverse investment portfolio and a recent strengthening of the Nigerian naira against the U.S. dollar.
Nigerian billionaire Femi Otedola’s energy firm targets $23.9-million revenue in Q2 2024
According to the latest earnings forecast, the power-generating giant is optimistic about achieving a gross profit of N20.79 billion ($13.04 million) in the second quarter of 2024.
Nigerian billionaire Femi Otedola set to build staff housing at Lagos Law School
This move follows Otedola’s recent philanthropic initiatives aimed at supporting education and enhancing national security.
Femi Otedola’s First Bank reiterates commitment to empower FMCG distributors
FBN Holdings, led by Nigerian billionaire Femi Otedola, is doubling down on its commitment to supporting local businesses.
Femi Otedola’s FBN Holdings emerges as Nigeria’s most valuable banking group
As of the close of trading on Mon., Feb. 25, FBN Holdings’ market capitalization reached an impressive N1.22 trillion ($791.1 million).
Nigerian president appoints billionaire business leaders to Economic Advisory Committee
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
Nigerian billionaire Femi Otedola’s net worth rises by $300 million despite naira devaluation
The upswing in Otedola’s net worth is attributed to the remarkable performance of his 78.64-percent stake in Geregu Power Plc.
Nigerian billionaire Femi Otedola’s Geregu Power surpasses N2-trillion milestone
Geregu Power’s exceptional financial performance has solidified its position as one of Nigeria’s most profitable entities.
This Week In Review: A Snapshot of African Wealth Dynamics — Strategic Moves by Peters, Otedola’s Dividend Windfall, and Dangote’s Expansion (Feb. 5 to 10)
Dive into the dynamic world of African business magnates, where Benedict Peters teams up with the Atlantic Council, Femi Otedola secures a massive dividend from Geregu Power, and Aliko Dangote propels his companies toward public listings.
Nigerian billionaire Femi Otedola to pocket $17.6 million from Geregu Power in March
The dividend solidifies Otedola’s position among Nigeria’s top dividend earners and adds another financial milestone to his already impressive portfolio.
Billionaire Femi Otedola made chairman of Nigeria’s First Bank
The decision to elevate Otedola to the position of chairman was reached at a board meeting today.
Nigerian billionaire Femi Otedola’s power empire rakes in $90-million revenue in 2023
The company’s revenue soared beyond the $90-million mark during the period under review, marking a significant milestone in its operations.