Femi Otedola re-joined Nigeria’s list of top billionaires

Billionaire investor Femi Otedola has become the fourth richest person in Nigeria with a current valuation of $1.1 billion. He is now ranked behind only Aliko Dangote, Mike Adenuga, and Abdulsamad Rabiu. Otedola’s rise in wealth is mainly due to his ownership of over 70% of Geregu Power Plc, a power generation business.

In addition to his energy ventures, he also has significant real estate holdings in Lagos, Dubai, London, and Monaco. Moreover, he has investments in Zenith Bank and FBN Holdings, the parent company of First Bank Limited.

MAliko Dangote is the second richest person in Nigeria with a current net worth of $6.7 billion. He is the founder of Globacom, the third largest telecom service provider in Nigeria, and has substantial investments in the oil industry through Conoil Producing and Conpetro.

He is also a major shareholder in Sterling Financial Holding, with a 30.63% stake, which further solidifies his status among Nigeria’s financial elite. A year and a half ago, he had temporarily lost the second richest position to Mike Adenuga.

Nigeria’s list of top billionaires

1. Aliko Dangote: $13.4 billion
2. Mike Adenuga: $6.7 billion
3. Abdulsamad Rabiu: $5.7 billion
4. Femi Otedola: $1.1 billion

Have you read?
The 21st Century’s Biggest Financial Frauds and Controversies.
The World’s Most Valuable Unicorns, 2023.
The World’s Top 10 Highest-Paid Wealth Management Executives.
Highest paid chief executive officers in the United States in 2022.
Highly-Paid Entertainment Chief Executives.
Highest paid health insurance CEOs.