LONDON — Nigerian billionaire businessman and Geregu Power chairman Femi Otedola has reportedly acquired a luxury mansion in one of London’s most prestigious residential districts in a deal estimated at £53 million.
According to Business Insider Africa, the high-profile property is located in St John’s Wood, an affluent northwest London neighbourhood renowned for attracting ultra-high-net-worth individuals, diplomats, celebrities and global business elites.
The report, citing information from Bloomberg, stated that the mansion features 10 bedrooms alongside a range of luxury amenities including a private cinema, spa facilities and a dedicated cigar room, underscoring continued demand for prime real estate assets among the world’s wealthy investors.
The property is situated close to Regent’s Park and forms part of London’s elite luxury housing market, where international buyers continue to view high-end property as a long-term wealth preservation asset despite mounting economic pressures.
Reports indicate the mansion had previously been listed for approximately £75 million in 2020, suggesting Otedola may have secured the property at a substantial discount amid softer conditions in London’s premium real estate sector.
The acquisition comes during a difficult period for the UK luxury housing market, which has been affected by rising borrowing costs, higher property taxes and tightening tax regulations impacting wealthy foreign residents. Nevertheless, London continues to retain its status as a preferred destination for global investors seeking prestige assets in politically stable financial centres.
Femi Otedola remains one of Africa’s most influential investors, with interests spanning the power, finance and energy sectors. His fortune has recently experienced slight downward adjustments following the sale of a significant portion of his stake in Geregu Power at a discount to market value.
The billionaire entrepreneur is also known for his longstanding association with fellow Nigerian industrialist Aliko Dangote, Africa’s richest man. Earlier reports claiming Otedola helped finance the construction of the Dangote Petroleum Refinery were publicly dismissed by the businessman as “completely and utterly false.”
