Femi Otedola's new memoir, "Making It Big: Lessons from a Life in Business", chronicles his journey from humble beginnings to becoming one of Africa's most prominent billionaires. Published on August 18, 2025, the book serves as a part-memoir and part-business guide, offering insights into his personal philosophies, business strategies, and the challenges he faced along the way.
Key Takeaways from "Making It Big"
The book is rich with personal anecdotes and business lessons, providing a rare glimpse into the life of a successful African entrepreneur. Some of the major highlights from the book are listed below:
From School Dropout to Mogul: Otedola candidly reveals he did not complete a university education, and in fact, struggled academically throughout his primary and secondary schooling. He states that academia and he "were not compatible" and his true classroom was the business world. This part of the book emphasizes that formal education is not the only path to success, and that persistence and a hunger to build are just as, if not more, important.
The Billionaire's Rollercoaster: One of the most compelling narratives in the book is Otedola's account of making a billion, losing a billion, and making it back again. He details the devastating period when his fortune was threatened by a combination of factors, including the devaluation of the naira, a plunge in oil prices, and the 2008 global financial crisis. He takes personal responsibility for some of the mistakes and poor decisions that contributed to his losses, offering a lesson in accountability.
Strategic Reinvention: The book highlights Otedola's incredible ability to reinvent himself at crucial moments. He describes his strategic exit from the oil and gas sector by selling his stake in Forte Oil and his subsequent investment in the power sector, specifically his acquisition of Geregu Power. This move is presented as a masterclass in adapting to a changing economic landscape and turning a crisis into an opportunity.
The Intersection of Business and Philanthropy: "Making It Big" also delves into Otedola's extensive philanthropic work. He details his motivations and the significant donations he has made to education, healthcare, and religious institutions. The book frames philanthropy not just as giving back, but as a core part of his legacy and a reflection of his pride in his African identity. He recounts a specific encounter with former President Olusegun Obasanjo, who persuaded him to donate a substantial sum to fund the completion of the National Ecumenical Centre in Abuja.
Lessons for a New Generation: Overall, the book is a guide for aspiring entrepreneurs and business leaders. It is packed with personal philosophies, including the importance of a positive mindset and resilience. Endorsed by high-profile figures like Ngozi Okonjo-Iweala and Aliko Dangote, the memoir is seen as a valuable resource that fills a gap in the literature of successful African business leaders documenting their journeys for posterity. Otedola’s message is a call to dream boldly and turn challenges into opportunities.