Billionaire investor and prominent figure in the capital markets, Femi Otedola, has been awarded the title of “Investor of the Year 2024” by The Nation Newspaper.
The publication highlighted the achievements of his two companies, Geregu Power and FBN Holdings, as the reasons for this accolade.
Otedola's association with FBN Holdings commenced when he was appointed Chairman on January 31, 2024. His leadership quickly led to significant changes within the financial services giant.
The Nation noted that Otedola earned the Investor of the Year distinction due to the transformative reforms he implemented at FBN Holdings and the impressive stock market performance of his power company, Geregu Plc.
“From his dramatic emergence as the Chairman of FBN Holdings Plc to reforms which translated into exciting returns for the investors in 2024, Femi Otedola was a toast of the investing public in 2024.
With the successful listing of Geregu Power Plc in 2023, Otedola has maintained a strong upward trajectory, further solidifying his reputation as a turnaround entrepreneur through his significant contributions to FBN Holdings.
Analysts have noted that no other Nigerian investors are as deserving of the title Investor of the Year for 2024 as this billionaire. The Nation
The publication characterized Otedola’s impact on the capital market as a transformative force, likening it to a Midas touch that has turned FBN Holdings and Geregu Power into shining examples of financial success, providing investors with substantial returns.
Data indicates that FBN Holdings achieved a return of 19.11% in 2024, closing the year at N28.1 per share. At one point during the year, the stock reached a 52-week high of N43.95, suggesting its potential for even greater valuation in 2025.
Analysts attributed this remarkable growth to Otedola’s strategic vision and the confidence he instilled in investors through his leadership. Under his chairmanship, FBN Holdings experienced an impressive 128% increase in profit before tax, amounting to N610.86 billion in the third quarter of 2024.
Additionally, Otedola’s significant ownership of 13.15% of the company’s shares has established him as a key player in Nigeria’s banking sector, showcasing his talent for recognizing opportunities where others perceive challenges.
In tandem with his achievements at FBN Holdings, Otedola’s stewardship of Geregu Power Plc has also been described as transformative. As the first power generation company to be listed on the Nigerian Exchange, Geregu Power’s stock price has surged by 1,050% since its debut, closing at an impressive N1,150 per share in 2024. The company’s market capitalization now surpasses N2.88 trillion, placing it among the distinguished SWOOT (Stocks Worth Over One Trillion) category.
The financial results of the company were closely aligned with its achievements in the stock market. Geregu Power reported a profit after tax of N24.1 billion for the first three quarters of 2024, reflecting a remarkable 102% rise in revenue.
Femi Otedola's engagement with Geregu Power and FBN Holdings has resulted in substantial capital gains for investors, highlighting his role in influencing Nigeria's corporate environment.
At FBN Holdings, Otedola initiated a restructuring of the executive leadership, introducing experienced professionals to enhance the bank's operations and governance standards. Likewise, Geregu Power has distinguished itself through its commitment to corporate governance, which has increased investor trust and established the company as a benchmark for transparency and accountability within the energy sector.
Outside of corporate affairs, Otedola's philanthropic efforts demonstrate his dedication to making a positive societal impact. He has made significant contributions to healthcare and education, including major donations to the Save the Children Fund and various disaster relief initiatives throughout Nigeria. These efforts emphasize his commitment to improving lives while pursuing corporate goals.
While his business activities have played a crucial role in fostering growth in Nigeria's capital markets, Otedola's holistic approach, which integrates corporate success with social responsibility, reinforces his standing as a business leader who values both profit and purpose.