I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through @SeplatEnergy ’s next phase of growth.
I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat’s culture of execution and governance aligns strongly with my own values.
I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders.
I also congratulate Mr. Okon on his appointment as Chief Executive Officer.
His deep industry experience gives me great confidence that @SeplatEnergy is well positioned for its next chapter of growth.
#TOEWay
Some Nigerians didn’t just make money… they built wealth that keeps paying.
1. Aliko Dangote – Dangote Cement
2. Jim Ovia – Zenith Bank
3. Tony Elumelu – UBA, Transcorp
4. Abdul Samad Rabiu – BUA Group
5. Femi Otedola – Geregu Power & investments
6. Mike Adenuga – Conoil
7. Oba Otudeko – Honeywell Group
8. Tunde Hassan-Odukale – First Bank
9. Herbert Wigwe – Access Bank
10. Pascal Dozie – Diamond Bank
These stories didn’t happen overnight.
They started years ago, stayed consistent, and today their investments are still paying dividends — even for their families.
That’s the real game.
Start small. Stay patient. Think long term.
Build something that will outlive you.
Femi Otedola’s Comeback: How He Became a Billionaire Again
After the 2008 crash stripped almost everything away, Otedola was left with two personal properties, his Victoria Island office, and his controlling stake in the struggling listed company African Petroleum Plc.
He bet everything on that one remaining asset.
In December 2010, he rebranded it Forte Oil Plc and launched a ruthless turnaround. He cut costs, upgraded technology and supply chains, strengthened governance, and secured smarter deals. He also quietly bought back more shares while they traded at rock-bottom prices during the panic.
Oil prices recovered. Forte Oil turned profitable again by 2012. The stock surged spectacularly in 2013. By 2014, Otedola was back on the Forbes billionaire list with a net worth around $1.8 billion. He had cleared every kobo and rebuilt from that single lifeboat stake.
He didn’t stop there.
In 2019, he sold his 75% stake in Forte Oil to Prudent Energy for about ₦64.9 billion to focus on power. He had taken control of Geregu Power in 2013, and in October 2022 he listed it on the NGX, the first power generation company on the exchange.
In December 2025, he sold his controlling Geregu stake for ₦1.088 trillion ($750 million), one of the largest private power deals in Nigerian history.
He then pivoted to banking. He now owns 17.01% of First HoldCo, parent of First Bank, as its single largest shareholder, and chairs the board. The shares he bought around ₦5 now trade above ₦50.
In 2026, he revealed he sold part of his Geregu stake to invest $100 million in the upcoming Dangote Refinery IPO.
Forbes puts his net worth around $1.6 billion today.
In 2008, banks sent men to his house at dawn to collect.
Today, he owns the largest stake in one of the oldest banks in the country.
Full circle.
Happy Birthday to my BESTIE @AlikoDangote, hands down the greatest entrepreneur to have come out of Africa. Wishing you many more years of good health, good market conditions, and continued success 😃… F.Ote💲
It was truly an honour to be received once again by His Excellency, Mr President.
It remains a cherished tradition for me to pay my respects and extend my greetings during Sallah. Although it has been two weeks since the celebration, I felt it was still important to convey my heartfelt good wishes. I was also pleased to take the opportunity to extend my warm birthday wishes to His Excellency on his recent celebration.
I continue to keep His Excellency in my prayers, wishing him good health, long life, and renewed strength as he leads our nation.
#ASR
The Orange Bank has just released its FY 2025 results. Once again, the first bank to do so. In terms of corporate governance, this bank continues to set the pace for others to emulate.
The Board of Directors has recommended a final dividend of ₦11.76, bringing the total dividend for the year to ₦12.76. This is sweeeeet!
A full review is underway.
It was a pleasure to receive Tony Elumelu (@TonyOElumelu), Chairman of UBA, and his management team on a visit to our office today.
Our relationship goes back many decades, rooted in a strong business relationship built on trust, mutual respect, and shared objectives. We value this enduring partnership and the history we have shared, and we continue to build on it as we exchange ideas and strengthen our engagement.
We look forward to further strengthening our collaboration and creating even more value between our two groups.
#ASR
A Nigeria billionaire and owner of UBA Group, lectures at Harvard Business School without a note book.
It is not enough to be rich. Your intellectualism must match the riches