Femi Otedola gains N1.48 trillion in Q3 2026

During the third quarter of 2026, Nigerian billionaire Femi Otedola experienced a significant surge in the market value of his investment in the financial services group First HoldCo. The worth of his holding soared from N451.50 billion at the end of June to an impressive N1.93 trillion by September, as per an analysis of his listed investments on the Nigerian Exchange (NGX).

This increase was primarily driven by a sharp rise in the share price of First HoldCo, which rose by 185.3% during the quarter. This substantial appreciation in share price contributed significantly to the reported growth in Otedola's investment. However, the total increase of 326.7% in holding value suggests that changes in the number of shares included in the valuation also played a role.

Otedola, who has a substantial investment position in First HoldCo, the parent company of First Bank of Nigeria, held approximately 8.06 billion shares, representing 18.12% of the company's outstanding shares as of January 2026. His shareholding was further strengthened with the acquisition of an additional 95.7 million shares valued at N12.58 billion on August 24, at a price of N131.48 per share.

By September 19, 2026, Otedola's net worth reached $2 billion for the first time, a significant rise from $1.8 billion in August of the same year.