Femi Otedola’s net-worth rises to $1.2billion, returnse to Forbes Billionaire List

Billionaire investor Femi Otedola has surged to the fourth position on Nigeria’s list of top billionaires, with a current valuation of $1.2 billion, according to Forbes.

This recent reassessment is attributed to his ownership of over 70% of Geregu Power, a power generation business.

In the years 2022 and 2023, Otedola strategically sold down his Geregu stake from over 95%, welcoming institutional investors into the business.

Key investors in Geregu include the Afrexim Fund for Export Development in Africa, the State Grid Corporation of China as well as some pension funds and institutional investors.

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Apart from his energy ventures, Otedola holds significant real estate assets in Lagos, Dubai, London, and Monaco. He also owns shares in Zenith Bank and FBN Holdings.

The valuation update coincides with Otedola’s philanthropic gesture of donating N1 billion to the Lagos State Security Trust Fund, underscoring his commitment to giving back.