Who Is Dr. Oba Otudeko Chairman of Honeywell? Wife Adebisi Aderonke Otudeko – Family and Net Worth

Otudeko, real name Ayoola Obafoluke Otudeko, is a prosperous investor, philanthropist, and businessman who has significantly boosted Nigeria’s economy. He makes astute investments across a range of economic areas. Oba Otedeko is the chairman of the multinational manufacturing, trading, and investment conglomerate Honeywell Group. Among his qualifications are that of a Chartered Accountant, Chartered Corporate Secretary, and Chartered Banker. When I say that you’re well-rounded, that’s what I mean.

Oba Otudeko Background

On August 18, 1943, in Ibadan, Oyo State, Oba Otudeko was born into the royal family of the late Adewunmi Olufuyi Otudeko and Juliana Foworera Otudeko. In Odogbolu, Ogun State, he was born.

He went to Olivet Baptist High School in Oyo, Oke Agbo, Ijebu-Igbo, Ogun State, and St. John’s School in Oke Agbo. In Yorkshire, UK’s Leeds College of Commerce was Oba Otudeko’s place of study for accounting.

The business tycoon is a graduate of the Arthur D. Little School of Management in the United States, Harvard Business School in Boston, and the International Institute for Management Development in Switzerland.

Adebisi Aderonke Otudeko, a princess from a reigning family in Ijebu-Ode, Ogun State, is his wife. Three children, Moyo Otudeko, Folake Otudeko, and Obafemi Ademola Otudeko, are a blessing for them.

Oba Otudeko Net Worth

Forbes estimated his net worth to be $550 million in 2014.

Entrepreneurial Journey of Oba Otudeko

His work was first begun by Oba Otudeko, a former bank clerk, at the former Co-operative Bank of Ibadan, which was later closed. He was promoted through hard work and tenacity that proved to be effectual and it is through these that he finally earned the position of acting CEO and the General Manager whom he was up to his resignation in 1983. Knowing that Oba Otudeko’s mother was a fruitful businesswoman, it was no shock that he chose the business world to venture into, as soon as he resigned. The trade company known as Honeywell Enterprises was already established in 1972 by the Otudeko family. In no time, the emergence of the Honeywell Group took place with its initiation as one of the native conglomerates developing in Nigeria and soon to be the leading one of them up to now.
The Group Honeywell was started as a company in 1972 by, the conglomerate, which has evolved into a diversified business entity with interests in many sectors and industries in Nigeria under the inspirational leadership and vision of Oba Otudeko.

Subsidiaries of Honeywell Group

Honeywell Flour Mills Plc

One of Nigeria’s biggest food processors, specializing in consumer goods made from flour. It was founded in 1998 and is traded on the Nigerian Stock Exchange. The company makes pasta, noodles, ball snacks, and baking flour.

HOGL Energy Ltd

A prominent Nigerian-owned oil and gas marketing firm that was founded in 1995. The business deals with the distribution, importation, and purchase of fuels and gasses. The business also manufactures and sells lubricants to home and industrial customers.

Pivot Energy Company Ltd (PECL)

Offers construction, engineering, and procurement services to the power sector. On historic projects like the OAY (Owerri-Ahoada-Yenagoa) project for the Nigerian transmission firm, PHCN, PECL has collaborated with the federal government.

Uraga Real Estate Ltd

Involved in the financing, construction, and administration of assets and infrastructure.

Anchorage Leisures Ltd

Expands and invests in Nigeria’s travel and hotel industries. The business is the owner and operator of Victoria Island’s five-star Radisson Blu Anchorage Hotel.

Pavilion Technology Ltd

Offers security services to business and public sector companies as well as individuals. Security consulting, escort services, manned guards, and electronic security systems are a few of their offerings.

Huston Power Ltd

Licensed by the Nigerian Electricity Regulatory Commission (NERC) to generate and distribute power in Nigeria. In 2013, the company signed an agreement with GE for a 150 megawatts power facility in Ogun State.

His Philanthropy

In an effort to give back to the community, Oba Otudeko founded the Oba Otudeko Foundation (OOF), a non-governmental organization, in 2003. Through institution building, capacity building, and people empowerment, the foundation works to bring sustainable development to Nigeria and other African nations.

The projects carried out by the foundation are:

1. Building of an Auditorium to Pan Atlantic University,
2. Administrative Block to All Saints’ College, Edun Village, Ibadan
3. Students’ Cafeteria to Bells University of Technology, Ota, Ogun State
4. Endownment of the Centre of Entrepreneurial Studies of the Olabisi Onabanjo University, Ago Iwoye, Ogun State
5. Footprints Occupational Training Centre.

Appointments and Boards where Oba Otudeko Serves

Oba Otudeko leads the boards of Honeywell Flour Mill Plc, FBN Holdings Plc, and the Lagos Sheraton Hotel.

Chartered Institute of Bankers, UK; Institute of Chartered Secretaries and Administrators, UK; and Institute of Chartered and Corporate Accountants, UK have elected him as a fellow. Oba is also a member of the Institute of Chartered Accountants of Nigeria and the London Business School’s Office of Distinguished Friends.

He has been on the board of directors of First Bank of Nigeria, NEPAD Business Group of Nigeria, Central Bank of Nigeria, Guinness Nigeria Plc, British American Tobacco Ltd, Eko bank Transnational Incorporated, Delmar Overseas Ltd, the Khali & Dibbo Ltd.

The dynamic businessman served as President of the Nigerian-South African Chamber of Commerce, Digital Africa Conference Exhibition in Abuja, Fan Milk of Nigeria Plc, Airtel Nigeria Ltd., and Business Support Group.

He was a council member of the West African Banks’ Association, the Nigerian Bank Employers’ Association, and the Manufacturers’ Association of Nigeria. Additionally, he served on the Nigeria Industrial Revolution Plan Presidential Advisory Council.

In September 2006, Oba became the 16th president and chairman of the Nigerian Stock Exchange. He was a chancellor of Olabisi Onabanjo University and he was recognized as a Commander of the Order of the Federal Republic in 2011 after being awarded Officer of the Order of the Federal Republic (OFR) in November 2002 and Member of the Order of the Federal Republic (MFR) in December 2000.

Oba Otudeko’s Principle

He believes in the market-driven yet sustainable national development. In his opinion, the good corporate governance practices and a good business environment create new business opportunities that in turn raise the shareholder value – the non-material return on investment that a shareholder gets when a business develops in a profitable manner.

Recognitions and Awards

Oba Otudeko is a prominent Nigerian businessman who has received numerous recognitions and awards throughout his career. Here is a table summarizing the key recognitions and awards received by Oba Otudeko:

You may also like: Who Is Alexia Putellas dating? Net worth Age Parent and Biography

Last Updated on June 27, 2024 by 247 News Around The World