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Femi Otedola Expresses Joy As He Makes Forbes’ Africa Billionaires List After Seven Years

Published

10 months ago

Jan 28, 2024.

Eko Hot Blog reports Renowned billionaire businessman Femi Otedola has shared his excitement on social media following his return to Forbes’ Africa Billionaires list after a seven-year absence.

The 61-year-old entrepreneur expressed his delight by sharing the announcement on his Instagram page, captioning it with the word “Interesting” alongside smiley and dollar emojis.

Otedola currently occupies the 20th spot on the prestigious list with a net worth of $1.1 billion. According to Forbes, the collective wealth of the 2024 list of 20 billionaires has risen to $82.4 billion from the previous year’s $81.5 billion, partially attributed to Otedola’s reentry. This marks his return to the Forbes Africa list, with his last appearance dating back to 2017.

As the executive chairman of Geregu Power Plc and former CEO of Forte Oil, Otedola boasts a diverse business portfolio that spans the energy, power generation, real estate, and shipping sectors. Despite facing competition from multinational oil firms, his company has consistently maintained a significant presence in Nigeria’s energy sector.

In his quote, Otedola expressed gratitude for the recognition, acknowledging the challenging yet rewarding journey that has led to his inclusion on the prestigious list.

“I am truly honored to be back on the Forbes Africa Billionaires list. It reflects the collective effort of our team and the resilience of our businesses in navigating various sectors. This recognition serves as motivation to continue driving positive impact and contributing to the growth of the Nigerian economy,” Otedola stated.

The Forbes Africa Billionaires list also features other notable Nigerian entrepreneurs, including Aliko Dangote, who retains the top spot with a net worth of $13.1 billion, solidifying his status as Africa’s richest billionaire.

Mike Adenuga, owner of Globacom and other companies, secures the fifth spot with a net worth of $6.9 billion.

The return of Femi Otedola to the Forbes Africa Billionaires list underscores his enduring success and significant contributions to various sectors of the Nigerian economy.

The recognition adds to the billionaire’s legacy and serves as an inspiration for aspiring entrepreneurs.

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