Nigerian billionaire Femi Otedola may soon venture into publishing, based on a cryptic but revealing social media post that has fueled speculation of an upcoming memoir. The post, shared on Wednesday, offers reflections on his decades-long entrepreneurial journey, and appears to be the prelude to a formal account of his rise in Nigeria’s business and financial landscape.
In his message, Otedola remarked on how the Nigerian business environment has changed over the last ten years, describing a dramatic shift from restrictive conditions to one where entrepreneurship is increasingly accessible. He credited this transformation to “perseverance, resilience, and the lessons learned from countless setbacks,” adding a personal touch that suggests he may soon delve deeper into his private struggles and professional wins.
“I will be sharing something very exciting in the coming days,” he wrote, a line that has sparked considerable curiosity among followers, analysts, and media circles. Many believe the billionaire is preparing to publish a memoir—possibly his first public narration of how he built his fortune and shaped Nigerian finance.
A Strategic Year for a Strategic Investor
Otedola’s announcement comes during what is arguably one of the most consequential years in his business career. As Chairman of First Bank Holdings Plc, he has cemented his reputation not only as a businessman but also as a transformative investor with deep influence on Nigeria’s capital markets.
In April, Otedola hosted an elite cast of political and economic stakeholders—Vice President Kashim Shettima, and governors from Lagos, Ogun, and Ondo states—at the groundbreaking ceremony for First Bank’s new 43-storey corporate headquarters in Lagos. Set to become Nigeria’s tallest building, the structure symbolizes more than architectural ambition; it reflects Otedola’s intention to modernize Nigerian finance and assert First Bank’s dominance in Africa’s banking sector.
His leadership at FirstHoldCo, the holding company of First Bank, has been marked by aggressive capital injection and renewed governance standards. Since taking over as chairman in January 2024, Otedola has invested over ₦320 billion of his personal wealth—in cash and without debt—to reposition the institution.
At the bank’s 13th Annual General Meeting, Otedola stated:
“I didn’t take a gamble. This was a calculated, strategic move to rebuild First Bank into a modern, well-governed, and highly profitable institution.”
His capital infusion aligns with recapitalization goals set by the Central Bank of Nigeria (CBN), showing not only financial muscle but also patriotic commitment to economic stability.
Multiple Honours Reflect Market Impact
This flurry of corporate activity hasn’t gone unnoticed. In May 2024, Otedola received the Activist Investor and Market Maker of the Year award at the Nairametrics Capital Market Award, recognizing his strategic investments and market-moving interventions. The Nation newspaper also named him Investor of the Year 2024, hailing his Midas-touch influence over companies like Geregu Power Plc and FBN Holdings.
These accolades confirm Otedola’s ability to combine vision, capital, and timing in ways that yield measurable impact—not only for shareholders, but for the Nigerian economy at large.
Confidence in National Reforms
One of the most defining aspects of Otedola’s current investment strategy is his confidence in President Bola Tinubu’s economic reforms and the monetary direction set by CBN Governor Yemi Cardoso. He recently praised the government’s tax reform law as a “game changer” that could restore investor confidence and catalyze growth.
On his official X handle in June, Otedola wrote:
“I’m inspired to invest more. And many other investors share the same sentiment.”
His enthusiasm for reform aligns him closely with the Tinubu administration, where he has reportedly joined a group dubbed the “four wise men” — trusted advisers on economic strategy.
This proximity to political power only amplifies his voice and influence. Otedola is no longer just a private businessman; he is a force in shaping national financial policy and investor sentiment.
A Memoir Worth Reading?
Should Otedola indeed publish a memoir, it would be the first personal, insider account of how he transitioned from oil magnate to banking powerhouse. The billionaire made his early fortune through Zenon Petroleum and Gas Ltd, and later held a controlling stake in Forte Oil, which he eventually sold in 2019.
In recent years, he has shifted his focus to infrastructure, power generation, and financial services—key sectors critical to Nigeria’s development. His bold moves in Geregu Power, one of Nigeria’s first privately owned power generation firms to go public, as well as his pivotal role in First Bank’s recapitalization, make his corporate journey one of the most closely studied in Nigeria.
Otedola’s business dealings are known for their strategic precision—from well-timed exits to calculated entries that often reshape the direction of entire sectors. A book chronicling these decisions, their context, and their aftermath would not only serve as a business manual but also a historical record of private enterprise in a challenging economic climate.
What’s Next?
While the billionaire has yet to confirm the format of his forthcoming revelation, the tone and timing of his message suggest more than a casual reflection. With Nigeria at a critical juncture—facing both macroeconomic headwinds and opportunities for restructuring—the lessons from a figure like Otedola could be invaluable for emerging entrepreneurs, policymakers, and investors.
Moreover, it could offer younger Nigerians a glimpse into how resilience, timing, and strategic patience can forge a path in an environment often defined by volatility.
Final Thoughts
Femi Otedola’s social media teaser is more than a marketing stunt—it marks a possible moment of legacy-building. If a memoir or biographical account is indeed forthcoming, it would not only document the rise of one of Africa’s most influential business figures but also serve as a roadmap for navigating Nigeria’s evolving economic terrain.
As the country pushes for reform, stability, and private sector-driven growth, voices like Otedola’s—grounded in both practice and principle—could shape the next generation of African entrepreneurship. Whatever he reveals next, Nigeria and the world will be watching.
