Otedola Celebrates Return To Forbes’ Africa Billionaires List With Enthusiasm

After a seven-year absence, billionaire businessman, Femi Otedola, recently celebrated his return to the Forbes African Billionaires list.

Taking to Instagram, he shared his excitement by posting a picture of the announcement with the caption “Interesting” alongside smiley and dollar emojis.

At 61 years old, Otedola currently holds the 20th position on the list with a net worth of $1.1 billion.

Forbes noted that the wealth of the 2024 list of 20 billionaires increased to $82.4 billion from last year’s $81.5 billion, partly attributed to Otedola’s return.

Prior to this, the last time he appeared on the Forbes Africa list was in 2017.

Otedola, the executive chairman of Geregu Power Plc and former CEO of Forte Oil, possesses business interests across the energy, power generation, real estate, and shipping sectors.

Despite encountering fierce competition from multinational oil firms, Otedola’s company has successfully upheld its status as a significant player in Nigeria’s energy sector.

Among the Nigerian billionaires on the list, Aliko Dangote retains the top position as Africa’s richest billionaire, with a net worth of $13.1 billion. Meanwhile, Mike Adenuga, the owner of Globacom and other enterprises, secures the fifth spot with a net worth of $6.9 billion.