Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
Nigerian billionaire businessman and philanthropist Femi Otedola has emerged as the second-place winner at the 2026 BCA African Business Book of the Year Awards for his autobiography, Making It Big: Lessons from a Life in Business. The award, organised by the Business Council for Africa (BCA) in partnership with the Africa Finance Corporation (AFC), African Business magazine and BrandComms, was announced at a ceremony held on Friday, July 3, 2026, at the Institute of Directors in London.
Otedola, who serves as Chairman of First HoldCo, received a cash prize of $5,000 for his runner-up finish. His memoir was one of nine books shortlisted for this year's competition, which celebrates the most compelling business writing examining Africa's economic landscape. The top prize carries a $10,000 cash award, while third place receives $2,500.
Reacting to the honour, Otedola expressed gratitude to the organisers, describing the recognition as humbling. "Thank you to the BCA African Business Book of the Year team for this generous recognition," he said. "Making It Big was written to tell the truth about the journey — the risks, the setbacks, the resilience, and the leadership required to build a business, especially in Africa." He added that he was "humbled by this honour" and extended his warm congratulations to the other winners. "I am grateful that the book is resonating with readers and entrepreneurs across the continent. I am hopeful that it will inspire entrepreneurs to keep building and giving back."
The judging panel for the awards included Arnold Ekpe, BCA Chairman and chair of the judging committee; Arunma Oteh, former Director-General of the Securities and Exchange Commission; Chris Ogbechie, former Dean of Lagos Business School; Moky Makura, Chief Executive of AfricaNoFilter; Terhas Berhe, Managing Director and Founder of Brand Communications; Omar Ben Yedder, Publisher of African Business and New African magazine; and Anver Versi, Editor of New African and African Banker.
Otedola's memoir traces his journey from his early ambitions in business before he was 10, to making his first billion at the age of 41, losing it, and rebuilding it. The book covers his early career in the downstream petroleum sector through Zenon Petroleum and Gas, his acquisition and transformation of African Petroleum into Forte Oil, his pivot into power generation through Geregu Power, and his eventual arrival as Chairman of First HoldCo, the parent company of Nigeria's oldest bank.
Published in August 2025, the book became a bestseller on Amazon within a day of its release, climbing to No. 1 in the Starting a Business category and attracting five-star reader ratings. It has also received endorsements from several leading African figures, including Ngozi Okonjo-Iweala, Aliko Dangote and Akinwumi Adesina, who described it as an important contribution to African business literature and a valuable guide for entrepreneurs.
This is not the first honour for the book. In April 2026, it won the Business Book Gold Medal at the Axiom Business Book Awards in the United States, an award widely regarded as a top critical benchmark for business books. The Axiom Awards, administered from Michigan, drew more than 600 entries from 31 countries, with past gold medallists including economist Robert Shiller and investor Ray Dalio.
The BCA African Business Book of the Year Award, now in its fourth year, has become one of African publishing's most closely watched prizes. It recognises writing that examines the continent's economies, ranging from leadership memoirs to sector studies. Other titles shortlisted for this year's award included Joe Studwell's How Africa Works, David Luke's How Africa Eats, Landry Signé's Realizing Africa's Potential, Jaco Maritz's How We Made It in Africa II, and works by Adeolu Adewumi-Zer, Alette Vonk, and Adrian Saville with Bruce Whitfield.
Otedola, one of Nigeria's most influential investors, built his fortune through the downstream oil sector before diversifying into power generation, financial services, and other strategic investments. He was appointed Chairman of First HoldCo in January 2024 and has built a combined direct and indirect stake of about 18.1 per cent in the bank.
Otedola began writing the book in 2017 and completed the manuscript in 2019 but postponed its publication due to the COVID-19 pandemic, eventually releasing it in 2025. The 286-page memoir combines personal narrative with practical lessons on entrepreneurship, offering readers insights into his experiences building businesses, navigating setbacks, making investment decisions, and leading companies across Nigeria's energy and financial sectors.
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