Femi Otedola: How I Dropped Out of High School and Never Went to University

Lagos, Nigeria — Billionaire businessman Femi Otedola has revealed that his rise to fortune came without the academic qualifications many assume he had. In his newly released 286-page memoir, Making It Big, the 62-year-old energy mogul recounts how poor performance in school pushed him out of the classroom and into the world of business, where he would go on to build one of Nigeria’s largest empires.

Early Struggles with Schooling

Otedola began his education in 1968 at the University of Lagos Staff School, where he admits he consistently ranked at the bottom of his class. “There was something about academia and me; we were not compatible,” he writes, noting that his interests simply did not align with the rigors of academic life.

He later attended Methodist Boys’ High School, Lagos, and then Olivet Baptist High School, Oyo, but his performance failed to improve. Despite his parents’ efforts to help him catch up, including moving him to boarding school, his passion remained elsewhere.

Choosing Business Over Classrooms

By the late 1970s, Otedola had grown fascinated with his father’s printing business, Impact Press, in Surulere. He immersed himself in the mechanics of printing machines and began helping with business correspondence. Eventually, despite his mother’s protests, he abandoned school altogether to work full-time with his father.

At just 25 years old, he became Managing Director of Impact Press in 1987. Though he thrived in the role, Otedola soon sought independence. His father allowed him to take on a commission-based sales role, a decision Otedola describes as his “significant break.” He invested in cars for marketing outreach and began bringing in printing jobs from major companies and advertising agencies, particularly calendars and diaries.

From Printing to Power and Oil

By the early 1990s, Otedola had sharpened his entrepreneurial instincts. After his father turned to politics, Otedola struck out on his own. In 1994, he founded Centre Force Ltd. with ₦10 million in capital, setting in motion the foundation of what would become a vast business empire.

Over the years, Otedola expanded into oil and gas, shipping, real estate, finance, and power, rising to become chairman of Forte Oil and later investing heavily in Geregu Power Plc. Today, he chairs FirstHoldco Plc, one of Nigeria’s largest financial groups.

Lessons Beyond the Classroom

For years, speculation persisted that Otedola held a degree from the University of Lagos. His memoir corrects that record, stressing that his real classroom was the business floor, not a lecture hall.

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

A Message of Determination

In Making It Big, Otedola offers a candid lesson: while formal education eluded him, discipline, persistence, and vision propelled him to the top. His story underscores that success can come from unconventional paths — provided one is willing to take risks, learn fast, and commit to hard work.