Nigerian billionaire businessman and oil mogul, Femi Otedola, has provided a deeply private and revealing account of his rise, fall, and resilience in his upcoming memoir, Making It Big: Lessons from a Life in Business, which is scheduled for launch on August 18, 2025.
In excerpts from the e book, revealed by FO, Otedola narrates how Nigerian banks as soon as aggressively courted him on the peak of his empire, deploying “bewitching ladies” to steer him to take out huge loans and place deposits.
“One moment, I was the darling of the banks, who did everything in the world to court me, do business with me, give me loans, take deposits from me,” he wrote.
“They would send bewitching ladies to make their offers more convincing.”
But the tides turned when world oil costs plummeted, and the naira suffered a pointy devaluation. Otedola says he misplaced over $1.2 billion in the course of the {financial} downturn—$480 million to falling oil costs, $258 million as a result of naira devaluation, $320 million in accruing curiosity, and $160 million when the inventory market crashed.
“It was devastating, like a terrible nightmare,” he wrote. “But a nightmare would have been better: day would break, and I would wake up. There was no waking up from this.”
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He recalled the stark distinction between his days of economic glory and the interval of decline, noting how the bankers who as soon as flattered him disappeared, changed by “hefty, barrel-chested men” who would present up at his gate as debt stress mounted.
On July 17, Otedola shared a teaser of the memoir through his official X deal with, describing the e book as a group of hard-earned classes, setbacks, and triumphs that formed his entrepreneurial journey.
“I look forward to opening this conversation with entrepreneurs and visionaries across the world,” he posted.
“And to seeing how these experiences might inspire your own journey forward.”
The memoir is anticipated to be a must-read for aspiring entrepreneurs, seasoned traders, and anybody within the behind-the-scenes challenges of constructing—and surviving—a billion-dollar enterprise empire.
