During his business partner Akin Akinfemiwa’s 50th birthday celebration in London, Nigerian billionaire Femi Otedola spoke about a dark period in his life when he contemplated suicide due to financial difficulties.
Otedola credited Akinfemiwa for being instrumental in helping him through that depressive episode after he suffered significant financial losses. He shared the story of their connection, stating that destiny played a role in their partnership.
In 2005, Otedola’s friend, who worked at Oando, introduced him to Akinfemiwa. Their initial conversation led to Akinfemiwa offering Otedola a job when he was in need of a capable oil trader for his company, Fine Shade Energy, in London.
However, Otedola’s business eventually collapsed, leaving him in a desperate situation. He admitted that he began to entertain thoughts of suicide but reconsidered when he thought about his family, particularly his wife, Nana, and their children.
Realizing that he needed to make a change, Otedola made the difficult decision to step down and appointed Akinfemiwa as the CEO of the London office. He also gave him a 1% stake in the business. This move proved to be a turning point as Akinfemiwa successfully turned the business around, impressing Otedola with his leadership skills.
Through the support of Akinfemiwa and his own resilience, Otedola was able to overcome his financial challenges and rebuild his empire. He concluded his speech by acknowledging how Akinfemiwa’s presence in his life played a significant role in his journey to success.