Femi Otedola
of Nigeria is the controlling shareholder of publicly traded Forte Oil, an oil
marketing and power generation company. Originally a Nigerian subsidiary of
British Petroleum (BP), Forte Oil has more than 500 gas stations across the
country. It owns oil storage depots and manufactures its own line of engine
oils.
In 2013, Otedola led the company to purchase a government-owned stake in
a gas-fired power plant in Kogi state in central Nigeria. In September 2015,
Swiss commodities giant Mercuria said it would acquire a 17% stake in Forte Oil
for $200 million; as of late February 2016 the transaction is not yet complete.
Otedola's daughter, Ifeoluwa, is a popular disc jockey who goes by the moniker
'DJ Cuppy'. She was the official disc jockey during the May 2015 inauguration
of Nigeria's President Muhammadu Buhari. Otedola is a fitness buff, spending at
least one hour in the gym every day.
http://www.forbes.com/africa-billionaires/
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