Nigerian multi-millionaire will run for Governor of Lagos on opposition center-right People’s Democratic Party (PDP) ticket, according to journalist Dele Momodu’s social media.
“Lagos 2019 promises to be interesting. PDP offers Femi Otedola governorship ticket. He's accepted and confirmed personally to The Boss newspaper,” Momodu said, though Otedola has yet to comment.
According to Nigeria’s Punch newspaper, Femi Otedola, widely known as the country’s most successful businessman, is set to challenge for the governorship as a representative of the party which pushes neoliberal economic policies and holds a conservative stance on social issues, such as same-sex relations.
The 55-year-old oil magnate will run against All Progressives Congress (APC) candidate and incumbent Governor Akinwunmi Ambode in the 2019 general elections.
Michael Otedola, the late father of the businessman, was governor of Lagos from 1992 to 1993.
The younger Otedola is controlling shareholder of the publicly traded Forte Oil, an oil marketing and power generation company, originally a Nigerian subsidiary of British Petroleum. Forte Oil has more than 500 gas stations across the country and multiple oil storage depots as well as manufactures its own line of engine oils.
Otedola has given millions of dollars to causes in education, health and the arts and was featured on Forbes 2016 billionaires list with a net worth of US$1.8 billion.