Femi Otedola is a Nigerian businessman, entrepreneur philanthropist, and chairman of Forte Oil Plc, an importer of fuel products. He is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance.
He is the second Nigerian after Aliko Dangote to be included on the Forbes list of dollar-denominated billionaires.
He was recently on an interview with Peace Hyde on ‘My Worst Day in Business’ where he revealed one of his darkest days in business – when he lost everything he had worked so hard to build leaving him with only two choices; to commit suicide or weather the storm!
Of course by his success story today it is crystal that he chose to weather the storm. Below are the things he gave up to pay his debt of $800m:
- Gave up 184 flats;
- Gave up all his shares in Nigerian banks;
- Gave up his position as the Second Largest shareholder in Chevron and Mobil;
- Gave up his shares in Visafone.
At the end of the storm, he was left with a House in Ikoyi, Walter Carrington and Abuja and his 37% stake in AP.
Below is the video link of the interview: