Femi Otedola is a Nigerian businessman, investor and the group chairman of First HoldCo Plc, the parent company of FirstBank of Nigeria.
His business career has moved through petroleum distribution, power generation and banking, and he has become one of the largest individual investors in Nigeria’s financial sector.
Why is Femi Otedola trending again?
Interest in Otedola has risen repeatedly in 2026 because of his aggressive accumulation of First HoldCo shares.
Google Trends showed renewed Nigerian search interest around his First HoldCo stake in early October.
His shareholding increased through several large transactions during the year, many executed through Calvados Global Services Limited.
How much of First HoldCo does Femi Otedola own?
Premium Times reported that another acquisition in August 2026 took Otedola’s stake to about 27.7%.
The exact percentage can move when the company issues new shares or when Otedola buys or sells more stock, so the latest regulatory filing should always be treated as the final source.
What is First HoldCo?
First HoldCo Plc is the financial holding company that owns FirstBank and other financial-services businesses.
Otedola became chairman of the group in January 2024.
How did he become wealthy?
Otedola built a large part of his early fortune in Nigeria’s downstream oil and gas industry.
He founded Zenon Petroleum and Gas and later took control of African Petroleum Plc.
African Petroleum was transformed into Forte Oil, a company that became one of the best-known publicly listed downstream petroleum businesses in Nigeria.
What happened to Forte Oil?
Otedola later sold his controlling interest in Forte Oil.
First HoldCo’s official biography says he began the divestment in December 2018 and completed the handover in 2019.
The business is now known as Ardova Plc.
What is Geregu Power?
After reducing his petroleum exposure, Otedola became heavily associated with power generation through Geregu Power.
An investment vehicle linked to him acquired controlling shares in the Geregu power plant during Nigeria’s power-sector privatisation process.
Geregu later became the first Nigerian power-generation company listed on the Nigerian Exchange.
Did Otedola sell Geregu Power?
By late 2025 and 2026, Otedola had shifted major parts of his investment portfolio again.
Public reports described significant transactions involving his Geregu interest and a plan to invest US$100 million in the Dangote Refinery.
Because these holdings change, current company filings are more reliable than static “companies owned by Femi Otedola” lists copied across biography sites.
Why has he bought so much First HoldCo stock?
Otedola has not framed the investment as a short-term trading position.
His growing stake and role as chairman place him at the centre of the group’s recapitalisation and strategy.
First HoldCo is also operating in a period when Nigerian banks are raising capital to comply with new regulatory requirements.
What was his stake worth in 2026?
Nairametrics estimated in September that Otedola’s disclosed and implied First HoldCo stake had a market value of about ₦1.82 trillion at the prevailing share price.
That is a market-value estimate, not cash sitting in a bank account. The value changes every time the share price moves.
Is Femi Otedola still one of Africa’s billionaires?
Forbes included Otedola in its 2026 Africa billionaire coverage.
Net-worth estimates for public-company investors can change significantly with stock prices and exchange rates, so Holyprofweb does not present a single static number as permanent.
What companies is he associated with now?
The strongest current public links are First HoldCo and investments held through Otedola-related entities.
Older lists often continue to describe Forte Oil as his company even though he exited the business years ago.
Why his career is interesting
Otedola has repeatedly concentrated capital into a sector, built influence and then shifted into another area.
Petroleum made him nationally prominent, power became a major second act, and banking has become one of the biggest parts of his current public investment story.
For more Nigerian business and founder profiles, see Holyprofweb’s People section.