Femi Otedola(born 1967 in Epe,Lagos State) is a Nigerian businessman. He is Chairman of Forte Oil Plc, and appeared as one of only two Nigerians (alongside Aliko Dangote) to appear on the 2009Forbeslist of 793 dollar-denominated billionaires in the world, with an estimated net worth of over US$1.2 billion. Femi Otedola is the Nigerian President and Chief Executive Officer of Zenon Petroleum and Gas limited. Personal life Otedola is the son of former Lagos State governor Sir Michael Otedola. Femi Otedola is married to Nana, with three daughters and one son, including the British DJ and socialiteFlorence "Cuppy" Otedola. Business venturesZenon Petroleum and Gas Femi Otedola is the billionaire owner of multi-billion naira indigenous oil giant Zenon. Zenon, which is directly run by Otedola, is the dominant force in the diesel business among oil marketing concerns. It thus supplies all the important fuel used to power generating sets of most Nigerian industries and manufacturing firms. These include Dangote Group, Cadbury, Coca Cola,Nigerian Breweries, MTN, Unilever, Nestle, and Guinness, among others.[3]In September 2012, Otedola's name was published among the list of directors whose company was owing Asset Management Corporation of Nigeria (AMCON) N192 billion.Otedola owns one of the country's largest oil storage facilities which he purchased for N2.8 billion. He bought one hundred brand new trucks purchased for N1.3 billion to strong then the distributive arm of his business, and acquired for 6.8 million dollars a massive flat-bottomed bunker vessel with a storage capacity of 16,000 metric tonnes of diesel. Otedola started Zenon few years ago and within a short time seized control of the market. Today he has become the pacesetter in the downstream sector while expanding the frontiers of competition. NNPC Group Managing Director, Engr. Funso Kupoloku acknowledged this much when he said Zenon was now the company to beat in the downstream sector.[citation needed]His company appeared to have fully prepared itself for the deregulation of the petroleum sector as evidenced in its purchases. Buying three cargo ships in quick succession to bring its total number of ships to four.
