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Otedola Shares Journey From School Dropout To Business Mogul

Published

2 months ago

August 19, 2025

Editor

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

Back To School: Lions Club Distributes Educational Materials In Edo Schools

Published

9 hours ago

October 4, 2025

Editor

The Benin Etete Unique and Edo Heritage Lions of the International Association of Lions Club on Friday jointly distributed educational materials to two schools in Benin City as part of the association corporate services to humanity.

The two clubs in District 404-A4 Lions Nigeria, jointly carried out the distribution of notebooks, maths sets, school bags and sandals, pens and other writing materials to excited pupils in Ivbioba Primary School and Oghede-Ivioba Primary School, Ugbighoko, Egor Local Government Area, and Evbiyenava Primary School, in Ikpoba-Okha Local Government Area of Edo State.

Themed, Back to School Project, pupils were also engaged in Reading Action Program (RAP) and Spelling Bee Competition, after which winners were presented with special prizes.

In their remarks, Lions Darlington Uyi and Franca Nikoro, presidents of Benin Etete Unique and Edo Heritage Lions Clubs stated that the vision of the Lions International is to serve humanity.

They, therefore, tasked pupils on commitment to their studies in order to attain their fullest potentials in life.

“Emulate Lions in your visions for tomorrow. We have various professionals as members, and if you are committed to your studies, obedient to your parents and teachers, you will attain great heights,” Lion Uyi Darlinton Stated.

“Our vision is to serve, and we are here like we do every period to ensure Literacy is inculcated in pupils to enable them to attain their full potential. It is our earnest desire that you grow into well rounded personalities. Literacy is important in order to actualize that aspiration,” Franca Nikoro stated.

Earlier, in his address, Lion Sir Dede Henry Idemudia, Zone 6A Chairperson, tasked the pupils on good conduct, honour to parents and guardians and obedience to instructions of school authority.

News

NAFDAC Gives Nigerian Food Companies 18 Months To Cut Trans Fats

Published

10 hours ago

October 3, 2025

Editor

The National Agency for Food and Drug Administration and Control has set an 18-month grace period, effectively giving food companies until early 2026 before facing full enforcement of regulations to eliminate industrially produced Trans-Fatty Acids (TFA).

The initiative, launched as a comprehensive strategy and roadmap for TFA regulation, moves Nigeria from simply having the policy to enforcing its world-class standard: a regulatory limit of no more than two grams of industrially produced trans fat per 100 grams of total fat or oil.

The Director-General of NAFDAC, Professor Mojisola Adeyeye, emphasised that the roadmap moves the country beyond policy creation to aggressive enforcement and implementation.

This was contained in the NAFDAC DG’s keynote speech posted on the agency’s official X (formerly Twitter) on Friday.

Adeyeye stressed the moral imperative of the Agency’s mission.

“The removal of industrially produced trans fats from the food chain is not only a technical achievement, but a moral imperative.

“Eliminating industrially produced trans fats is possible, achievable, necessary, and urgent,” Adeyeye stated, calling for national collaboration.

The moratorium period is designed to allow manufacturers to exhaust existing stock with outdated labels and reformulate their products to comply with the legal limit.

NAFDAC’s action targets a dangerous dietary risk factor strongly linked to cardiovascular disease, stroke, and premature death globally.

Adeyeye emphasised the significance of the move beyond technical compliance, noting, “The removal of industrially produced trans fats from the food chain is not only a technical achievement, but a moral imperative.”

This aggressive step builds upon Nigeria’s existing reputation; the country was recognised by the World Health Organisation in 2023 for adopting best-practice TFA elimination policies.

The new roadmap is key to securing WHO validation of Nigeria’s full TFA elimination programme, establishing the nation as a regional leader in public health interventions.

News

Mohbad’s Father Urges Lagos AG To Prosecute Wife, Nurse, Others

Published

11 hours ago

October 3, 2025

Editor

Joseph Aloba, the father of late singer Mohbad, has urged the Lagos State government to initiate criminal proceedings against individuals named in the coroner’s inquest into his son’s death.

Mohbad passed away on September 12, 2023, following an injection administered by auxiliary nurse Feyisayo Ogedengbe.

Despite being buried the next day, public outcry and ongoing investigations led to the exhumation of his body on September 21, 2023, for an autopsy.

In a letter dated October 3 and addressed to the attorney general of Lagos State through his lawyers, Aloba demanded that criminal charges be filed against those indicted within 14 days.

“Specifically, we refer to persons indicted by the coroner’s verdict hereunder: Miss Ogedengbe Fisayo, indicted for unlawful medical practice and gross medical negligence; and Mrs. Omowunmi Aloba, indicted for negligence,” the letter reads.

“This includes Ibrahim Owodunni, a.k.a. Prime Boy, and others who either facilitated the invitation of the auxiliary nurse or refused to take him promptly to a recognised medical facility for treatment.”

Mohbad’s father said he was concerned that despite the coroner’s clear verdict, no prosecutorial steps had been taken against those indicted nearly three months after the judgment.

He asked the attorney general to exercise prosecutorial powers within the 14 days, or, in the alternative, grant him and his legal team a fiat to prosecute the matter on behalf of the state.

“Our Client, as a bereaved father desirous of ensuring that justice is done and seen to be done, is deeply concerned that notwithstanding the clear indictments contained in the Coroner’s Verdict, no prosecutorial steps have been taken against the aforementioned persons since the delivery of the Verdict on 11th July, 2025,” the letter reads.

“The judicial observations amount to clear indictments warranting the prosecution of the said individuals in order to give full effect to the Coroner’s findings and recommendations, and to ensure that justice is manifestly and adequately served in this matter.

“We request that you exercise your prosecutorial power on the above subject matter within 14 Days Next, in view of the high sensitivity of this matter and the public attention and outrage it has generated.”

In October 2023, Naira Marley and Sam Larry were arrested over allegations linking them to Mohbad’s death, but were released on bail after five weeks in detention.

By February 2025, a magistrate court cleared them of any involvement in the singer’s demise.