Oba Otudeko Net Worth (Updated 2023)

Oba Otudeko Net Worth is estimated to be $650 million because to his remarkable business skills. Some of Nigeria’s most influential and wealthy men are found in the country’s industrial industry. The name is Dr. Oba Otudeko stands out among them.

He got his start in finance, but today he’s a significant player in the manufacturing industry, where he’s responsible for creating thousands of employment all along the value chain and enhancing domestic output.

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Oba Otudeko established Honeywell Group and serves as its chairman. The business empire of the company includes oil and gas extraction, wheat milling, property development, and shipping. His wealth also consists of the Radisson Blu Hotel on the coast of Lagos, Nigeria.

Despite his modest appearance, Nigerian Ayoola Oba Otudeko was named Africa CEO of the Year (2016) by the Africa CEO Forum for his tireless appetite for risk, his passion for changing lives through the creation of jobs and the transformation of the business landscape through legacy projects, and his generosity.

Otudeko has set the standard for a long time. Honeywell Group’s chairman, born Obafunke (but better known as Oba) Otudeko, is widely regarded as a visionary corporate leader and a bold risk-taker.

Honeywell Group Chairman Otudeko won the award, beating out seven other contenders, including Africa’s wealthiest man, Alhaji Aliko Dangote.

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Only Otudeko and Dangote, from Nigeria, were among the eight finalists for the prestigious Africa CEO of the Year Award.

In addition to oil and gas, wheat milling, real estate, and shipping are all part of his conglomerate’s business portfolio. His wealth also includes the Radisson Blu Hotel on the coast of Lagos, Nigeria.

Oba Otudeko Biography and Net Worth

On August 18, 1943, in Ibadan, Oyo state, Ayoola Obafoluke Otudeko was born to a royal family.

He attended Olivet Baptist High School in Oyo and St. John’s School in Oke Agbo, Ijebu-Igbo in Ogun State, before continuing his education at Leeds College of Commerce in the United Kingdom.

Otudeko returned to Nigeria and found work as a clerical assistant at the now-defunct Co-operative Bank in Ibadan. Over the following two decades, he worked his way up through the ranks of the Bank, eventually becoming General Manager and interim Chief Executive Officer. After leaving the Bank voluntarily in 1983, he was named to the Board of Directors of Nigeria’s Central Bank.

Oba Otudeko Income from Business

Otudeko’s mother was a businessman. Therefore, he grew up expecting to follow in her footsteps. After leaving the Bank, he had more time to devote to his hobby.

Starting in the 1970s, Honeywell Enterprises was an import-export business connecting Nigeria’s northern and southern states. Honeywell Group, one of Nigeria’s most prominent indigenous conglomerates, evolved from the original corporation throughout time.

He attended the International Institute for Management Development in Switzerland, Harvard Business School in Boston, USA, Hult International Business School in the United Kingdom, and the Arthur D. Little School of Management in the United States to hone his business acumen.

The Honeywell Group started as a grain mill, but now it operates as a diversified conglomerate with divisions in several industries.

Founded in 1995, HOGL Energy Limited operates in the oil and gas industry. As a homegrown firm specialising in selling petroleum and gas. The firm sources, imports, and distributes fuels, gases, and lubricants for both commercial and residential usage.

Baking flour, ball foods, noodles, and pasta are just some flour-based items that Honeywell Flour Mills Plc processes. In 1998, business got underway for this firm.

Pivot Engineering Company Limited (PECL) is a company that serves the power sector by way of engineering, procurement, and construction.

Uraga Real Estate Limited operates in the commercial real estate market by financing, maintaining, and developing buildings and facilities in various locations around the country.

Anchorage Leisures Limited operates the five-star Radisson Blu Anchorage Hotel in Victoria Island and invests in the tourist and hospitality industries.

Oba Otudeko Business Career

Otudeko used his qualification when he started working as a clerk in Ibadan’s defunct Co-operative Bank.

Otudeko used his qualification when he started working as a clerk in Ibadan’s defunct Co-operative Bank.

Following his success at his previous Bank, the federal government of Nigeria recruited him to serve as a Director on the Board of the Central Bank of Nigeria (CBN).

Oba Otudeko began using the Oba Otudeko Foundation (OOF), a non-governmental organisation he founded in 2003, to channel his charitable efforts formally. Over the years, the foundation has organised several empowerment, capacity-building, and institution-building projects.

Pan Atlantic University’s Auditorium, All Saints’ College’s Administrative Block in Edun Village, Ibadan’s Footprints Occupational Training Centre, and Olabisi Onabanjo University’s Centre for Entrepreneurial Studies’ Endowment in Ago Iwoye, Ogun State are just some of the many projects funded by the foundation.

 Oba Otudeko Net worth in 2023

Recognised as both a successful businessman and generous benefactor, Oba Otudeko has made significant contributions to the telecoms and industrial industries. He is now worth an estimated $650 million because to his remarkable business skills. The fact that Oba Otudeko is one of the wealthiest people in Ogun State is evidence of his power and achievement.

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