Networth: $470 Million
Source: Oil & Gas, Shipping
The son of former Lagos state governor Sir Michael Otedola. Femi Otedola is the founder and Chief Executive Officer of Zenon Petroleum and Gas Limited, arguably the biggest diesel and kerosene marketing company in Nigeria. Zenon is the major supplier of diesel to many of the country’s major manufacturing and telecom companies like Cadbury, Nigerian Breweries, Unilever, Nestle Plc and MTN.
Some years back he acquired controlling stake in African Petroleum (AP) and attempted merging the giant petroleum marketing company with his Zenon petroleum a move which did not materialise.
He also owns Atlas Shipping Agency, Swift Insurance and Seaforce Shipping Company.
In 2009 he made Forbes list of Billionaires alongside Aliko Dangote but has since dropped down after AP shares depreciated drastically and thus affected his networth. Still he is rich enough to make our top 11 list.