Why I Almost Committed Suicide in 2008 — Femi Otedola Opens up

Popular billionaire businessman Femi Otedola has shared the story of how he almost took his own life after losing $480 million in the diesel market in 2008.

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Otedola opened up while talking about his perseverance and how he partnered with the CEO of his business, Akin Akinfemiwa at a low point in his life.

Per a Nairametrics report, he revealed that Akinfemiwa was instrumental in revitalising his business after he chose not to commit suicide after diesel prices slumped, leaving him stranded.

“My relationship with Akin is what I would call, destiny prevails. In 2005 I had a friend that worked in Oando and she did mention to me that she has a colleague. And she called Akin and we spoke.

“I set up my training company in London Fine shade energy, I was looking for a trader and I couldn’t find any good trader. I called Dimeji Edwards who was Akin’s boss. Akin picked up the phone to come and see me.

“So he came, and I said to him, listen I want to give you a job. Come and work for me. Then of course he went back to Wale and Mofe who were his bosses then (at Oando). And they said you want to go and work for that man? That has sacked six CEOs in six years.

“Now when I say destiny prevails, the business collapsed. I built a massive empire. I had 93% of diesel at my fingertips. I was a bit playful, and the business collapsed.

“The option I had then was to commit suicide. Then, of course, I thought of Nana and the kids. And I said no, I won’t commit suicide.

“I will face reality and sack myself and the business. So, I sacked myself. I made Akin the CEO of the London office, and I was so impressed by the way he turned around the business.

“I gave him 1% of the business. I now later, made him the CEO of Zenon Oil, and then the CEO of African Petroleum.”