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How Femi Otedola’s net worth spikes to $1.7 billion in 3 months

Nigerian billionaire Femi Otedola’s net worth has surged to $1.7 billion, as reported by Forbes.

The chairman of Geregu Power and First Bank of Nigeria Holdings Plc (FBN Holdings) has seen his wealth grow significantly this year, with a notable increase of $400 million since January 1, 2024.

The rise in Otedola’s fortune is largely due to the robust performance of his investments and the Nigerian Naira’s appreciation against the dollar.

Efforts by the Central Bank of Nigeria (CBN) to clear a substantial foreign exchange backlog have contributed to the Naira’s strength.

Otedola rejoined the Forbes list of Africa’s richest individuals in January with a net worth of $1.2 billion. In March, his fortune rose to $1.5 billion before reaching its current level.

Femi Otedola currently has a net worth of $1.7 billion according to Forbes and ranks within the top 2,000 richest people globally.

He holds a majority stake in Geregu Power, a major player in Nigeria’s power sector, and significant investments in FBN Holdings.

Otedola has also recently acquired a stake in Dangote Cement, further diversifying his investment portfolio.

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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