Money problems made Otedola think about suicide in 2008

The businessman considered taking his life after suffering a huge financial loss.

Nigerian billionaire Femi Otedola has revealed that he almost committed suicide after losing $480 million in the diesel market in 2008.

He spoke about his depressive episode during his business partner, Akin Akinfemiwa‘s 50th birthday celebration in London.

According to a Nairametrics report, Otedola revealed how instrumental the celebrant was to him getting through the depressive episode that struck him after losing the money.

In his words, “My relationship with Akin is what I would call, destiny prevails. In 2005, I had a friend that worked in Oando, and she did mention to me that she had a colleague. And she called Akin, and we spoke.”

Going further, he spoke about how Akin came to his aid when he was unable to find a capable oil trader.

I set up my training company in London Fine Shade Energy. I was looking for a trader, and I couldn’t find any good trader. I called Dimeji Edwards, who was Akin’s boss. Akin picked up the phone to come and see me”, the businessman stated; shortly after this he offered him a job.

Now when I say destiny prevails, the business collapsed. I built a massive empire. I had 93% diesel at my fingertips. I was a bit playful, and the business collapsed’, he continued.

It was at this point that Otedola started to have suicidal thoughts. He then spoke about how he reconsidered taking his own life after thinking about his family.

“The option I had then was to commit suicide. Then, of course, I thought of Nana and the kids. And I said no, I won’t commit suicide,” he said.

The billionaire concluded his speech by highlighting how he was able to overcome his tumbling block. He did so by sacking himself and making Akin the CEO of the London office.

“I gave him 1% of the business. I now later, made him the CEO of Zenon Oil, and then the CEO of African Petroleum“, Otedola said.

The father of three stated after this, he was impressed by how his new partner turned the business around