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Otedola Shares Journey From School Dropout To Business Mogul

Published

4 months ago

August 19, 2025

Billionaire Femi Otedola has revealed his journey to building a multi-billion-dollar empire began without a university degree or even a completed high school education.

In his newly released memoir titled ‘Making It Big’, cited by The PUNCH on Tuesday, the 62-year-old energy mogul shares how his academic struggles led him to abandon formal education and dive into the world of business, where he ultimately found his calling.

In the 286-page book, Otedola recounts his early years at the University of Lagos Staff School, starting at the age of six in 1968, and notes that despite being classmates with notable figures like Kola Abiola, son of the late business magnate Moshood Abiola, he struggled academically.

“Academia and I were not compatible,” he writes, noting that he repeated a class and consistently ranked at the bottom of his class, sparking his pivot toward a different path.

“I finished primary school in 1974 because I repeated a class. Even when I was allowed to pass, I consistently anchored the bottom rungs of our end-of-term examination results. My interests were definitely not in academia,” he added.

He noted that after finishing primary school, he proceeded to Methodist Boys’ High School, Lagos, even as his academic struggles continued.

“The school had been founded almost a hundred years earlier, in 1878. Alumni include grand names in Nigerian history: Benjamin Nnamdi Azikiwe, Mobolaji Johnson, Ola Rotimi, Fola Adeola, Olusegun Osoba, and Hezekiah Oladipo Davies. When I joined the student body in 1974, the principal was D. A. Famoroti, who’d taken up the post in 1963 and would leave in 1980,” he recalls. “I started Form 1 at age 12 and was there for three years,” he said.

He pointed out that in 1977, after it became clear that his performance was not improving, his parents transferred him to Olivet Baptist High School, Oyo, a boarding school founded by Southern Baptist missionaries in 1945.

“My parents’ thinking was that all my siblings were boarders, and they seemed to be doing well,” Mr Otedola writes. “They thought this change would help turn around my attitude towards academia, but nothing changed.

“I started in Form 3 at Olivet, and as I rounded off the first year of my A Levels, my father was establishing his printing company, Impact Press, in Surulere, a residential and commercial district in Lagos State. I grew fascinated with the machines and told myself that my future would be inextricably tied to them. I managed to remain in school until the Lower Sixth examination was over. And then, I was finished; I never returned for my Upper Sixth.

“All I wanted to do was get involved in business. My father kept watch over me and drew me close. My sister taught me shorthand. I knew how to type and began typing letters for my dad. I prepared all his business correspondence. I was fascinated by the way printing machines treat paper. The white paper is placed on one end, the ink and plates are fixed, and the printed material comes out of the other end. It was captivating,” he stressed.

Despite his mother’s protests and tears, Otedola abandoned school to work full-time in his father’s printing business. He rose quickly, becoming managing director of Impact Press in 1987 at the age of 25.

“However, I soon became restless. I had immersed myself in all aspects of the business and learned the ropes at my dad’s right hand. I certainly enjoyed the job more than grappling with the Pythagoras theorem and struggling through homework at Olivet. As time went by, though, I also thought it was time for a measure of independence from my dad.

“I still wanted to work for him — I really enjoyed hearing the rumbling of machines and savouring the smell of freshly printed material — but I also wanted to do things differently. I told him I wanted to become a sales consultant for the press, and he agreed. He said he would pay me a commission of 10–15% on any work I brought in.

“That was a significant break for me. I invested my money in buying cars for sales and marketing outreach and moved on to the next phase in my nascent professional life.”

With his new role, he began bringing in jobs from major companies and advertising agencies, particularly in calendars and diaries.

“We could hardly keep up with the demand. Our unique selling point was quality, thanks to the state-of-the-art machines we owned. We were also always on time with job delivery. We were engaged in healthy competition with Academy Press, a company located in the Ilupeju area of Lagos.

“I served as my dad’s sales exec up until 1991, when he started his Lagos State gubernatorial campaign. It was a run for office — ultimately successful — that I had initiated.”

According to him, the break in his family business gave him the confidence and foundation to strike out on his own. In 1994, he founded Centre Force Ltd. with ₦10 million in starting capital.

“From those beginnings, he built a vast business empire in oil and gas, shipping, real estate, finance, and philanthropy. He went on to chair Forte Oil, invested in power through Geregu Power Plc, and today chairs the board of FirstHoldco Plc, one of Nigeria’s largest financial groups.

The businessman’s disclosure of his educational history may come as a surprise to many who long believed he was a university graduate. At one point, his Wikipedia page even suggested he studied at the University of Lagos.

But in “Making It Big”, Mr Otedola insists his true classroom was not a lecture hall but the business floor. His lessons, he says, came from watching his father, trusting his instincts, and learning from both failures and triumphs.

“I never returned for my Upper Sixth. All I wanted was to get involved in business,” he writes. That decision, once a source of his mother’s tears, would lay the foundation for a career that has made him one of Africa’s most influential businesspersons.

In the end, Mr Otedola’s memoir delivers a striking message: formal education may have eluded him, but discipline, persistence, and the hunger to build made him — in his own words — “make it big.”

News

How I and Obey’s Son Escaped Getting Caught In Benin’s Coup —Dele Momodu

Published

5 hours ago

December 7, 2025

Editor

The 2011 presidential flagbearer of the National Conscience Party (NCP), Chief Dele Momodu has revealed how he and his entourage missed getting caught in Benin Republic’s coup on Sunday.

A group of military personnel in Benin on Sunday announced that they had ousted President Patrice Talon, who is due to step down next April after 10 years in power.

Soldiers calling themselves the “Military Committee for Refoundation” (CMR), said on state television that they had met and decided that “Mr Patrice Talon is removed from office as president of the republic”.

Reacting to the news via a post on his official X account, Momodu said he and his entourage would have been caught in Benin Republic’s coup if not for a missing document.

“OUR GOD DID THIS FOR US… My friend ROTIMI OBEY, the second son of legendary musician, CHIEF COMMANDER EBENEZER OBEY and I were to head out to Accra, Ghana, by road, this morning. All was set and ROTIMI went to bed early so that we can set out at 5am. But something went wrong,” he said.

“Before going to bed, I asked my driver for the originals of my car documents. He said he had only the copies with him. I searched the Home Office in Victoria Island but I couldn’t find it. I then went to the Penthouse in Ikoyi to check my other office. Still no luck. So , I called ROTIMI at 10:38 PM to give him the decision to fly instead of driving. He agreed.

“Meanwhile, my Beninese friend and mentee, ALEX DALMEIDA, was already in town waiting to accompany us through the French-speaking borders. So I called him at 23:02 last night to abort our road trip.

“I called PRECIOUS, my travel consultant, to check available flights. She got us tickets at 11:15PM. It was at the airport we received the news of the coup in Benin Republic… We barely missed it by the whiskers…”

Soldiers led by Lieutenant Pascal Tigri announced that they have taken over the country. They also suspended all political parties and announced the closure of land, sea and air borders.

Speaking further, Momodu expressed surprise at the coup attempt, saying: “Benin is one of West Africa’s most peaceful countries.

“The Benin’s President changed the constitution just last month to allow him extend his presidential term, this morning the military has overthrown him.”

Talon’s entourage has, however said that the Benin Republic President is safe and the army was regaining control.

Talon, a 67-year-old former businessman dubbed the “cotton king of Cotonou”, is due to hand over power in April next year after 10 years in office marked by solid economic growth but also a surge in jihadist violence.

West Africa has experienced a number of coups in recent years, including in Benin’s northern neighbours Niger and Burkina Faso, as well as Mali, Guinea and, most recently, Guinea-Bissau.

News

OAU Unveils Seven-foot Bronze Statue Of Chief Obafemi Awolowo

Published

12 hours ago

December 7, 2025

Editor

…Yemisi Shyllon, other dignitaries praise Awo’s commitment to humanity

A giant bronze statue of the sage, Chief Obafemi Awolowo, was unveiled on Friday at the Obafemi Awolowo University (OAU), Ile Ife.

The statue, the worth of which was put at N120 million by the donor, has the sage dressed in his Senior Advocate of Nigeria (SAN) attire. It is of a height of seven feet, which goes to 15 feet after the inclusion of the pedestal.

Speaking at the unveiling, the Vice Chancellor of the university, Professor Adebayo Bamire, stated that the statue is a legacy project for the university.

Professor Bamire said the statue was a celebration of Chief Awolowo’s selfless service to humanity and expressed the appreciation of the university to the donor, Prince Yemisi Shyllon.

Prof Bamire noted that the life of Chief Awolowo should serve as a lesson for all to live for the good of the people.

“It is known that the soul of any civilisation, the very pulse of its humanity, beats strongest on its art, on its music, its literature, its visual splendour and its performances. This affirmation resonates with the Obafemi Awolowo University academic philosophy: ‘for learning and culture’—a culture of creativity and a creative culture.

“The donor of the statue, Prince Yemisi Shyllon, is a man whose name resonates across continents. He is Africa’s foremost art collector, an accomplished creative mind, a committed philanthropist of extraordinary vision and a relentless advocate for cultural advancement and one of the most remarkable cultural ambassadors of our time.

“For a university like ours, dedicated to the holistic development of mind and spirit, this example is a beacon. It reinforces our own commitment to ensuring that the sciences converge with the humanities, that innovation dances with tradition and that our graduates are as culturally literate as they are professionally skilled.

“This iconic piece will not only beautify our campus but also serve as a permanent cultural marker, reminding future generations of the ideals of leadership, service, excellence and intellectual courage upon which this university was founded,” the Vice Chancellor said.

Speaking, the donor of the statue, Prince Yemisi Shyllon, stated that the project was aimed at celebrating Papa Awolowo for living a purpose-driven life.

Prince Shyllon said conceiving the project and funding it was his own way of saying thank you to Chief Awolowo for the sterling leadership he gave his people and for showing what meaningful life meant.

“Indeed, many people solely focus on material wealth, such as having cars, building and buying properties, buying private jets, jewelries and the many other worthless and selfish illusions of life, that are generally not meaningful to the real essence of human life,” he said.

He added that Chief Awolowo would be remembered forever for living for what was right and just even as he listed some of the enduring legacies of the sage.

Prince Shyllon pointed at “free education in the old Western Region, and other landmark projects such as the Cocoa House, Western Nigeria Television, Liberty Stadium, industrial estates, farm settlements and the Obafemi Awolowo University, among others” as worthy legacies left behind by Chief Awolowo.

Shyllon noted that the sage was a man who could be best described as an example of a person who lived a “meaningful life.”

He added that Chief Awolowo lived his life planting seeds for generations while leaving his indelible footprints on the sands of time.

He charged all to live the kind of life that would make humanity remember them for something positive, “just as Papa Obafemi Awolowo, who died 38 years ago.”

He stressed that the Holy Qur’an and the Bible preach the act of showing love to the needy, adding that all should not give to the needy for the purpose of getting anything in return.

“Life is full of emptiness. Awolowo lived a meaningful, purpose-driven life and planted seeds through his various selfless services to humanity before his exit. That is why he is celebrated every day since he died 38 years ago,” he said.

In his remarks, Chairman, African Newspapers of Nigeria (ANN) Plc, publishers of the Tribune titles, and daughter of Chief Awolowo, Dr Olatokunbo Awolowo Dosumu, thanked Prince Shyllon for donating the statue.

She also appreciated the university for being receptive to the idea and for keeping the legacy of Chief Awolowo alive.

Ambassador Awolowo Dosumu, who was represented by the Editor, Saturday Tribune, Dr Lasisi Olagunju, noted that the project was a celebration of selfless service to the people which was what Chief Awolowo lived for.

“History is always there to reward selfless leadership and expose pretenders. We are here today in celebration of an uncommon man who died 38 years ago. This honour, this statue is a demonstration of what immortality means.

“Chief Awolowo gave his very best in the service of the people. We appreciate the donor, Prince Yemisi Shyllon, for the gesture and also appreciate the university for giving the right space for the erection of the statue. Good life is about services; what we are celebrating today is history’s reward for Chief Awolowo’s selflessness.

“Papa was one leader who believed that service to the people is a rent paid for the space we occupy in this world. The Awolowo family appreciates this monument and thanks the donor and the sculptor for doing a great job,” he said.

He urged students of the institution to learn from the life lived by Chief Awolowo and rededicate themselves to noble causes.

At the ceremony were principal officers of the university and other dignitaries, including Senator Babafemi Ojudu, who also said positive things about Chief Awolowo and the leadership he gave the Nigerian people.
(TRIBUNE)

News

FULL LIST: FG Selects 20 Content Creators For Tax Reform Education

Published

12 hours ago

December 7, 2025

Editor

The Federal Government has released a list of 20 content creators selected to support public education on Nigeria’s ongoing tax reforms.

The Presidential Fiscal Policy and Tax Reforms Committee issued the announcement, which was posted on Thursday by its chairman, Taiwo Oyedele, on X.

The list, titled “Top 20 Content Creators for Tax Reform Education,” was shared after the organisers received 8,591 nominations covering more than 200 creators.

The organisers said the selected creators will attend a special training session designed to deepen their understanding of the new tax laws so they can share clearer and more balanced information with their audiences.

They encouraged Nigerians to tag any creator on the list and ask them to confirm their interest by completing the acceptance form.

“If your favourite creator is on the list, tag or mention them and ask them to confirm their interest by completing this form: forms.gle/Ph49kSE4okDf6g….

“Deadline for acceptance is Monday, 8 December 2025.

“Tell us the areas of interest and key issues you’d like the training to focus on in the comments section.”

According to the announcement, the creators were ranked by their followership across major platforms. The top 20 include:

1. Financial Jennifer

2. Onlinebanker

3. Don Aza

4. Mary Efombruh

5. Baba Ogbon Awon Agba International

6. Perpetual Badejo

7. Personalfinancegirl

8. Tomi Akinwale

9. Emeka Ayogu