Billionaire businessman Femi Otedola revealed that a £250,000 loan from his late father, former Lagos State governor Michael Otedola, was the turning point that enabled him to establish Zenon Petroleum as one of Nigeria’s leading oil trading firms.
He shared this in his memoir, Making It Big: Lessons from a Life in Business, released on August 18 and already ranked third on Amazon’s Best Sellers in Business Biographies and Memoirs.
The book blends personal storytelling with business insights, charting his journey from modest beginnings to becoming a billionaire in his early 40s. It recounts both triumphs and setbacks, including the 2008 financial crisis that wiped out much of his wealth, and how he rebuilt through bold pivots and strategic leadership.
Beyond oil and gas, the memoir explores his diverse investments in power generation through Geregu Power, finance via First HoldCo Plc, as well as shipping and real estate. It also underscores his philanthropy in education, healthcare, and community development, which he sees as integral to leadership and legacy.
Reflecting on his father’s £250,000 lifeline, Otedola said it gave him the confidence to seize opportunities in fuel retail. He also recalls supporting his daughter, Florence Otedola (DJ Cuppy), with N10 million for her first major show at 16 — a poor turnout but a valuable lesson in perseverance.
According to him, mentorship and financial backing, which defined his own rise, remain central to how he nurtures his children and supports the next generation.
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