Nigerian billionaire Femi Otedola is still one of the richest people in Africa, with more than $1. 2
Billionairesafrica says that his many different investments and clever strategy made him the third richest investor on the Nigerian Exchange, after Abdul Samad Rabiu and Aliko Dangote.
Otedola is the boss of Geregu Power Plc and a boss at FBN Holdings Plc. He has a lot of money – $1. 22 billion – in stocks on the Nigerian Exchange. He owns 95. 38% of Geregu Power Plc, a big company that makes electricity, and 5. 56% of FBN Holdings, showing that he likes to invest in different things.
Otedola became even richer when Geregu Power was listed on October 5, 2022. In September 2022, his collection of investments was worth $25 million, but now it’s worth a huge $1. 22 billion, mostly because the value of his power company has gone up.
His investments in Geregu Power and FBN Holdings are about to reach a value of at least N1 trillion ($1. 2 billion) Geregu Power is worth N989 billion ($1. 22 billion), and FBN Holdings is worth N718 billion ($892 million).
Otedola made smart choices in the stock market and now his investments in Geregu Power are worth a lot more, with an increase of N192. 31 billion ($25145 His investment in FBN Holdings also went up by N6. 8 billion ($864 million) in the last few weeks.
Apart from doing well in business, Otedola has also made a big impact in education and helping others through his charity work. In October, he gave N750 million ($1 million) to Augustine University in Ilara-Epe, Lagos State, at the same time as he became the second Chancellor of the university.
Source: The Independent Ghana