- Forte Oil chairman,
Femi Otedola has spent over N300 million in 13-years to boost his father’s legacy
Two years after, Otedola took absolute control of his late dad’s scholarship scheme, he took on another legacy built by his father.
Nigerian billionaire and chairman, Forte Oil, Femi Otedola has spent over N300 million in the last 13 years boosting his father’s legacy.
In 2005, the chairman, Geregu Power Plant, provided N200 million towards one of his late father, Sir Michael Otedola’s scholarship scheme.
With the gesture, Femi Otedola assumed control of the Sir Michael Otedola Scholarship Scheme, which was founded by the former Governor of Lagos State in 1987.
The presentation ceremony by Otedola was attended by the former governor of Lagos state, Asiwaju Bola Ahmed Tinubu.
In 2007, exactly two years after his assumption of the Sir Michael Otedola Scholarship scheme, Otedola presented a cheque of N100 million to immediate past governor of Lagos state, Babatunde Fashola for the upliftment of the infrastructure of a college of primary education named after his father.
Fashola, who received the cheque on behalf of the Lagos state government eulogized Otedola’s the late dad, Sir Michael Otedola for building such legacies.
Otedola has been rumoured to be eyeing the seat of the Lagos State governor, Governor Akinwunmi Ambode but the oil magnate has repeatedly denied the tale saying he has no political ambition neither is he hoping or aiming to become the governor of Lagos State.
“My attention has been drawn to a news piece where false information from a parody account was posted. I am a man of the people and I will always be on the side of the masses but I am stating clearly via this medium that I am not running for office.
“The governor of Lagos State is doing a commendable job and Lagosians should be proud of him,” he said.
Otedola will be joining world and business leaders at the inaugural edition of the Bloomberg New Economy Forum as a founding delegate in November 2018.
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