Femi Otedola: The Lagos-Born Business Dynasty’s Billionaire

Femi Peter Otedola is a Nigerian billionaire businessman, investor and philanthropist whose family roots are firmly connected to Epe, Lagos State, despite being born in Ibadan, Oyo State.

Born on November 4, 1962, Otedola is the son of the late Sir Michael Otedola, who served as Governor of Lagos State from 1992 to 1993. His father was born in Odoragunsin, Epe Local Government Area of Lagos State, making the Epe community an important part of the Otedola family's heritage.

Although Ibadan is his birthplace, Otedola has explained that his childhood and formative years were largely shaped in Lagos after his father moved the family there for work. In his own words, Ibadan was his birthplace, but Lagos shaped his life, education and values.

A Son of Epe Who Became a Global Businessman

Otedola's connection to Lagos is more than a matter of family ancestry. His business journey has been deeply intertwined with the state's commercial landscape.

He founded Zenon Petroleum and Gas Ltd and built a formidable presence in Nigeria's downstream petroleum industry. His investments later expanded into power generation, shipping, real estate, finance and banking.

His business career has been defined by strategic expansion and reinvention. After building Forte Oil into a major Nigerian energy company, he sold his stake in 2019 and redirected his attention toward power generation through Geregu Power.

In recent years, he has emerged as a major force in Nigeria's banking sector through his investment in First HoldCo, the parent company of First Bank.

More Than His Birthplace

Femi Otedola's story is therefore one that requires a distinction between place of birth and state of origin.

He was born in Ibadan, Oyo State, but his family's ancestral roots are in Epe, Lagos State. His father was an indigene of Odoragunsin in Epe, and the Otedola family has continued to maintain strong connections to the area.

Today, Femi Otedola stands as one of Nigeria's best-known businessmen, carrying the name of an Epe-rooted family onto Nigeria's biggest corporate stages.

In short: Femi Otedola is of Lagos State origin, with family roots in Epe, although he was born in Ibadan, Oyo State.