For much of the past year, Tony Elumelu and Femi Otedola have remained at the centre of some of Nigeria’s biggest corporate transactions, offering entrepreneurs valuable lessons through the similarities and contrasts in their business strategies.
Elumelu, chairman of United Bank for Africa and Transcorp, is preparing to assume the chairmanship of Seplat Energy after Heirs Holdings and Heirs Energies acquired a 20.07% stake in the oil and gas producer.
Otedola, meanwhile, has sold his controlling interest in Geregu Power, increased his investment in First HoldCo and announced plans to redirect part of his capital towards the Dangote Petroleum Refinery.
Their recent moves reveal two contrasting approaches to building wealth and corporate influence.
The Heirs Holdings founder focuses on accumulating strategic assets, retaining long-term control and connecting businesses across banking, power, oil and gas, hospitality, insurance and entrepreneurship.
