Nigerian billionaire businessman Femi Otedola has revealed why he never pursued a university degree, saying his lack of interest in academics led him to abandon school early and channel his passion into business.
Otedola, who currently serves as the Chairman of First Bank Holding, shared the story in his newly released 286-page memoir, launched on Monday.
Early Schooling Struggles
Recounting his academic journey, Otedola said he began at the University of Lagos Staff School in 1968, at the age of six. However, from the outset, he found himself ill-suited to formal learning.
“But there was something about academia and me; we were not compatible,” he wrote. “I finished primary school in 1974 because I repeated a class. Even when I was allowed to pass, I consistently anchored the bottom rungs of our end-of-term examination results. My interests were definitely not in academia.”
After secondary school, he advanced to Olivet Heights, where he started his A Levels. Yet his interest in books waned as another passion took root.
Fascination with His Father’s Business
At the same time, Otedola’s father, Sir Michael Otedola, was establishing Impact Press, a printing company in Surulere, Lagos. The young Otedola soon became captivated by the operations.
“As I rounded off the first year of my A Levels, my father was establishing his printing company, Impact Press. I grew fascinated with the machines and told myself that my future would be inextricably tied to them,” he recalled.
That fascination eventually overpowered his academic obligations.
Decision to Walk Away
Otedola explained that he managed to remain in school only until he completed his Lower Sixth examination, after which he made the bold decision to quit.
“I never returned for my Upper Sixth. All I wanted to do was get involved in business,” he wrote.
Father’s Influence
Despite leaving formal education, Otedola noted that his father never abandoned him. Instead, he kept him close, providing guidance as he gravitated toward entrepreneurship.
“My father kept watch over me and drew me close,” he wrote, stressing the pivotal role his family played in shaping his journey.
From School Dropout to Business Mogul
Today, Otedola stands as one of Nigeria’s most influential businessmen, having built successful ventures in oil, power, finance, and philanthropy. His story, as told in his memoir, reflects a path defined not by academic laurels but by determination, passion for business, and early mentorship from his father.
