Femi Otedola: Nigerian billionaire gifts his daughters 3 Ferarris

Nigerian billionaire Femi Otedola has set tongues wagging on social media after gifting his three daughters, Tolani Otedola, Temi Otedola, and Florence Otedola (DJ Cuppy) new Ferrari vehicles.

In a post on Twitter, DJ Cuppy revealed that Mr Otedola bought them one each of the Ferrari Portofino, a vehicle which costs at least $218,750 according to Car and Driver price review for 2020.

“Papa took us shopping and bought one of each!,” DJ Cuppy posted.

Otedola

According to Forbes, the self-made billionaire is worth $1.8 billion and made his vast wealth in gas stations and utilities.

He is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Originally a Nigerian subsidiary of British Petroleum (BP), Forte Oil has more than 500 gas stations across the country. It owns oil storage depots and manufactures its own line of engine oils.

In 2013, Otedola led the company to purchase a government-owned stake in a gas-fired power plant in Kogi state in central Nigeria.

In September 2015, Swiss commodities giant Mercuria said it would acquire a 17% stake in Forte Oil for $200 million; as of late February 2016 the transaction is not yet complete…

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