Billionaire businessman Femi Otedola has disclosed that he did not complete his secondary school education and never obtained a university degree before venturing into business.
The 62-year-old made the disclosure in his 286-page memoir Making It Big released on Monday.
The book recounts his early struggles with academics and how he eventually found his path in business through his father’s printing press.
Mr Otedola wrote that he began his education at the University of Lagos Staff School in 1968 but consistently struggled with academics.
He later attended Methodist Boys’ High School, Lagos and then Olivet Baptist High School, Oyo.
Despite attempts by his parents to improve his performance by changing schools, he left before completing his A Levels.
“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,” he wrote.
Otedola joined his father’s printing company, Impact Press, where he became managing director in 1987 at the age of 25.
He later worked as a sales consultant for the company, bringing in major clients and gaining the confidence to start out on his own.
In 1994, he founded Centre Force Ltd. with N10 million capital.
He went on to establish businesses in oil and gas, shipping, real estate and finance.
He became chairman of Forte Oil and later invested in power through Geregu Power Plc.
He is currently chairman of FirstHoldco Plc, one of Nigeria’s largest financial groups.
The businessman noted that his mother, Doja Otedola, initially opposed his decision to abandon school, but the move eventually set him on the path to building his business empire.
Femi Otedola is the son of the late Sir Michael Otedola, a former governor of Lagos State.
In Making It Big, he emphasises that his business lessons came from practical experience and observing his father rather than from formal education.
