Oba Otudeko Biography: Net Worth, Children, Age, Wife, Private Jet, State of Origin, Companies

Biography

Oba Otudeko, born Ayoola Oba Otudeko on August 18, 1943, in Ibadan, Oyo State, Nigeria, is a distinguished businessman and philanthropist.

A chartered accountant, banker, and corporate secretary, he founded the Honeywell Group in 1972, transforming it into a leading conglomerate with investments in energy, real estate, food, and infrastructure.

Over the years, Otudeko has held several high-profile positions, including Chairman of FBN Holdings Plc and President of the Nigerian Stock Exchange (2006–2009). His significant contributions to Nigeria’s economic growth have earned him prestigious national honors, including the Commander of the Order of the Federal Republic (CFR) in 2011.

Beyond business, he is deeply committed to philanthropy through the Oba Otudeko Foundation, which focuses on education, healthcare, and sustainable development, leaving a lasting impact on communities across Nigeria.

Founder of Honeywell Group
Oba Otudeko
Wiki Facts & About Data
Real Name:	Ayoola Oba Otudeko
Stage Name:	Oba Otudeko
Born:	18 August 1943 (age 81 years old)
Place of Birth:	Ibadan, Oyo State, Nigeria
State Of Origin:	Oyo State
Nationality:	Nigerian
Education:	St. John’s School, Olivet Baptist High School, Leeds Beckett University, Harvard Business School
Height:	N/A
Parents:	Adewunmi Olufuyi Otudeko, Juliana Foworera Otudeko
Siblings:	N/A
Spouse:	Adebisi Aderonke Otudeko
Girlfriend • Partner:	Not Dating
Children:	Moyo Otudeko, Folake Otudeko, Obafemi Adedamola Otudeko
Occupation:	Businessman • Philanthropist
Net Worth:	$1 billion (USD)

Early Life & Education

Oba Otudeko, born Ayoola Oba Otudeko on August 18, 1943, in Ibadan, Oyo State, Nigeria, comes from a royal Yoruba lineage, earning him the title of Omoba, signifying his status as a prince among the Yoruba people, Nigeria’s second-largest ethnic group.

His heritage is deeply rooted in southwestern Nigeria, where Yoruba traditions, alongside Christianity and Islam, have historically shaped cultural and religious practices. While specific details about his religious beliefs remain undocumented, he was likely influenced by these prevailing faiths.

His family played a significant role in shaping his early years. His father, Adewunmi Olufuyi Otudeko, was a traditional ruler, reinforcing the family’s royal heritage, while his mother, Juliana Foworera Otudeko, was a businesswoman whose entrepreneurial spirit may have influenced his future ventures. Limited public records make it unclear whether he had siblings who impacted his upbringing.

Otudeko’s educational journey began in Nigeria at St. John’s School in Oke-Agbo, Ijebu-Igbo, Ogun State, before he proceeded to Olivet Baptist High School in Oyo for his secondary education. Seeking higher learning, he traveled to the United Kingdom to study accountancy at the Leeds College of Commerce (now part of Leeds Beckett University).

This international exposure laid the groundwork for his future as a chartered accountant, banker, and corporate secretary. He further honed his expertise through executive management programs at renowned institutions such as the International Institute for Management Development (IMD) in Lausanne, Switzerland, Harvard Business School in the USA, and the Arthur D. Little School of Management (now Hult International Business School).

Growing up in Ibadan during the 1940s and 1950s, Otudeko experienced colonial Nigeria’s economic and social transformations, which shaped his perspectives and later success in business and leadership.

Career

Oba Otudeko’s career exemplifies versatility, business acumen, and leadership, spanning banking, entrepreneurship, and corporate governance. After earning his accountancy qualifications at Leeds College of Commerce in the United Kingdom, he returned to Nigeria and embarked on a journey to establish himself as one of the country’s most influential business figures.

His career began in banking in the early 1960s when he joined the Cooperative Bank in Ibadan as one of its pioneer staff members. His analytical skills and dedication propelled him through the ranks, leading to his role as a branch manager. This experience refined his finance, capital management, and economic systems expertise, laying a strong foundation for his future business ventures. He later moved to the Industrial Bank (later known as Bank of the North), further cementing his reputation as a skilled banker.

In 1972, Otudeko transitioned to entrepreneurship, founding Honeywell Enterprises, a trading company specializing in the importation and distribution of commodities such as flour and baking equipment. Under his visionary leadership, the company expanded into the Honeywell Group, a diversified conglomerate interested in energy, real estate, food processing, hospitality, and infrastructure.

Key subsidiaries include Honeywell Flour Mills Plc, a major player in Nigeria’s food industry, and Uraga Real Estate Limited, which contribute to the country’s property development. His leadership prioritized innovation, sustainability, and job creation, transforming Honeywell Group into a powerhouse in Nigeria’s private sector.

Beyond his own enterprises, Otudeko played a pivotal role in shaping Nigeria’s financial landscape. He joined the board of the First Bank of Nigeria in 1990 and later served as Chairman from 2010 to 2013, guiding the institution through a period of modernization and growth.

As Chairman of FBN Holdings Plc, the parent company of First Bank, he further demonstrated his expertise in managing complex corporate structures. His influence extended to the Nigerian Stock Exchange (NSE), where he served as President from 2006 to 2009, advocating for reforms that strengthened transparency and investor confidence in Nigeria’s capital markets.

Otudeko’s corporate governance contributions also included serving as Chairman of Airtel Nigeria and as a director at the Central Bank of Nigeria in the 1990s, where he played a key role in shaping monetary policies. His commitment to professional excellence earned him fellowships in prestigious institutions, including the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Bankers of Nigeria (CIBN), and the Chartered Institute of Secretaries, UK.

In 2011, he was honored with the Commander of the Order of the Federal Republic (CFR) in recognition of his significant contributions to Nigeria’s economic development.

Personal Life

Oba Otudeko was born on August 18, 1943, making him 81 years old.

Otudeko is known to have been married to Olori Mobolaji Afonja Otudeko, widely known as Adebisi Aderonke Otudeko. She is a woman from a prominent family with ties to the Alake of Egbaland, a significant Yoruba traditional ruler. This marriage aligns with his royal Yoruba heritage, and Mobolaji is often cited as his primary wife.

There is no widely available evidence to suggest multiple marriages, though, given cultural norms among Yoruba elites, it remains possible but unconfirmed. Adebisi has been a supportive figure in his life, though she maintains a low profile, consistent with Otudeko’s reserved approach to personal publicity.

The couple has children, though exact numbers and names are not comprehensively detailed in public records. Among them, Oluwatoyin Otudeko (often referred to as Toyin) is occasionally mentioned in connection with the family’s business interests, suggesting she may play a role in the Honeywell Group or related ventures.

Another child, Folake Otudeko, has been linked to the family, but specific details about their lives or involvement in their father’s empire remain scarce. His other children include Moyo Otudeko and Obafemi Adedamola Otudeko.

Net Worth

Oba Otudeko, a Nigerian business magnate and founder of the Honeywell Group, has an estimated net worth that reflects his success across diverse industries, including manufacturing, telecoms, and real estate.

As of 2014, Forbes valued his fortune at $550 million, ranking him among Africa’s wealthiest individuals. His wealth stems primarily from the Honeywell Group, a conglomerate he established in 1972, which has grown to encompass significant stakes in companies like Honeywell Flour Mills and investments in properties such as the Radisson Blu in Lagos.

Additionally, his strategic acquisition of a 13.3% stake in FBN Holdings in 2023, valued at approximately $115.8 million (N87.8 billion), further solidified his financial standing, making him the largest shareholder in one of Nigeria’s leading financial institutions.

While more recent estimates are less definitive, Oba Otudeko‘s net worth is believed to exceed $1 billion, buoyed by his extensive business portfolio and decades of astute investments.