Nigerian billionaire Femi Otedola’s immense wealth and commercial success can be ascribed in part to the extensive network of business acquaintances and partners he has created over the years. These significant individuals who have played a major role in his success are crucial in defining Nigeria’s commercial scene.
From banking and finance to energy and philanthropy, these individuals represent some of the most recognized and accomplished leaders in their respective areas. Their cooperation with Otedola have resulted in the growth and success of various companies in Nigeria and beyond.
Let’s go into the lives of these significant people and observe how their interactions with Otedola have shaped the Nigerian business scene.
Aliko Dangote
Africa’s Richest Person, Aliko Dangote is the founder and chairman of the Dangote Group, West Africa’s largest conglomerate that employs over 30,000 people and concentrates on the production of sugar, cement, salt, and other consumer products. Dangote’s friendship with Femi Otedola began over 25 years ago and has been hailed as a match made in heaven. Otedola, who has had his share of business problems, previously admitted that he respects Dangote and gains business insights from him.
Both Otedola and Dangote own enterprises in real estate, energy, oil, agriculture, and construction. They have also strengthened their bonds with their families and have been seen together on several occasions. They both recently paid a visit to President-elect Bola Ahmed Tinubu, a close friend, to congratulate him on his victory in the 2023 presidential elections. Despite their hectic schedules, stories say they make time to get out with each other on occasion.
Donald Duke
Donald Duke, the former governor of Cross River State, has been widely lauded for his contributions to agriculture, urban development, administration, the environment, information and communication, investment promotion, and tourism. He has also been praised for making Calabar the cleanest city in Nigeria. The former governor is connected to Femi Otedola and Aliko Dangote. According to reports, they spent their formative years together in Surulere, Lagos.
The internet is flooded with photos of the three best friends shot at occasions to honour their friendship. Duke has also been lauded for luring billions of naira in investment to the state in the shape of Dangote Cement.
Wale Tinubu
Wale Tinubu, the CEO of Oando Plc, a Nigerian oil and gas corporation, is also a close acquaintance and business partner of Femi Otedola. According to sources, these businesspeople have collaborated on various projects. During one of his trips to Oando Plc’s facilities, Otedola praised Wale for bringing Europe to Nigeria.
Wale Tinubu is well-known for successfully transforming Oando from a petroleum marketing firm to an integrated energy conglomerate, adding international supply and trade, gas and power, energy services, and exploration and production to its operating portfolio.
Jim Ovia
Jim Ovia is the founder and chairman of Zenith Bank, one of Africa’s major banks. He has collaborated with Femi Otedola on various commercial endeavors. Otedola explained how he obtained complete control of the diesel supply infrastructure through his business, Zenon Petroleum and Gas Limited: “I approached Zenith Bank, sold my pitch on the enterprise and how we would fund it.” I had a 10-minute discussion with Jim Ovia; he believed in me, and it was a done deal.”
Otedola thanked Ovia for his assistance during a difficult financial situation that nearly drove him to suicide. Otedola stated that “Jim Ovia recognized the circumstances and proposed a restructuring of the loans for ease of payment.” Apart from his advice and support for Otedola, the two have the same birthday.
Bola Ahmed Tinubu
Nigeria’s president-elect, Bola Ahmed Tinubu, is also a close friend of Otedola’s. They have both played key roles in the political sphere of Nigeria’s commercial capital city, Lagos. Otedola’s father, Michael Otedola, was governor of Lagos a few years before Tinubu. Before the 2023 presidential elections, Otedola publicly stated his support for Tinubu’s candidacy, characterizing him as a wonderful friend.
In a tweet, he said, “I am always pleased to meet my Wonderful Friend Asiwaju Ahmed Bola Tinubu @officialABAT.” May God grant him his heart’s ambition to become President of this wonderful Nation…”
