Femi Pedro Biography: Early Life, Age, Net Worth

Let’s delve into the in-depth Femi Pedro biography.

Olufemi “Femi” Olusegun Pedro, born on January 29, 1955, in Lagos Island, Nigeria, is a distinguished economist, banker, entrepreneur, and politician. He is best known for serving as the Deputy Governor of Lagos State from 2003 to 2007 under Governor Bola Tinubu.

Throughout his career, Pedro has made significant contributions to Nigeria’s banking sector and political landscape.

Femi Pedro Biography Summary

Femi Pedro Early Life and Education

Femi Pedro was born into a family with deep roots in Lagos Island. His father, Pa Olajide Pedro, was a retired officer of the defunct Western Nigeria Marketing Board, and his mother, Modupe Pedro (née Abayomi), hailed from a lineage that settled in the Shomolu area before moving to Bamgbose Street in Popo Aguda.

Pedro’s early education was grounded in Lagos, where he developed a keen interest in economics and public service.

This passion led him to pursue higher education in the United States. He earned a Bachelor of Science in Economics from the University of Wisconsin–Superior between 1976 and 1978. Eager to deepen his expertise, he proceeded to Wichita State University, obtaining a Master’s degree in Economics from 1979 to 1981.

These academic pursuits equipped Pedro with a robust foundation in economic theory and practice, preparing him for a dynamic career in Nigeria’s financial sector.

Femi Pedro Career Achievements

Banking and Entrepreneurship

Pedro’s professional journey commenced at the Central Bank of Nigeria (CBN) in 1982, where he served as an assistant manager and research economist until 1985. His analytical skills and dedication were evident during this tenure.

In 1988, he joined First City Merchant Bank (now First City Monument Bank) as the executive assistant to the bank’s chairman and CEO.

His role expanded rapidly, and he became the deputy manager and head of corporate planning within the same year.

Pedro’s entrepreneurial spirit shone brightly when he became one of the pioneer investors in Guaranty Trust Bank in 1990. Collaborating with notable figures like Fola Adeola and Tayo Aderinokun, he played a pivotal role in establishing the bank’s presence across Nigeria.

His leadership and strategic vision were instrumental in the bank’s early successes.

In 1998, Pedro ventured into private business as the chairman of Agro-Corp Ventures Limited, a commodity processing company.

Later that year, he was appointed managing director and CEO of Comet Merchant Bank, which eventually became FinBank following its acquisition by a consortium of investors, including Pedro himself.

Political Career

Transitioning into politics, Pedro was elected as the Deputy Governor of Lagos State in 2003, serving alongside Governor Bola Tinubu. During his tenure, he focused on economic development initiatives and policies aimed at improving the state’s financial health.

His tenure lasted until 2007, during which he contributed to various developmental projects in Lagos State.

After his term as Deputy Governor, Pedro continued to influence public policy.

He was appointed as the chairman of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), where he advocated for the growth and support of SMEs across the country. Additionally, he served as the founding chairman of the Lagos State Sports Trust Fund, promoting sports development within the state.

Femi Pedro Net Worth

As of 2025, Femi Pedro’s net worth is not publicly disclosed. However, considering his extensive career in banking, entrepreneurship, and politics, it is evident that he has accumulated substantial wealth.

His investments in the banking sector, particularly as a co-owner and CEO of FinBank, along with his various business ventures, have significantly contributed to his financial standing.

Femi Pedro Recent Developments

In recent years, Pedro has remained active in public discourse, particularly concerning Nigeria’s economic policies. He has authored articles addressing issues such as fuel scarcity, power crises, and currency challenges, offering insights and potential solutions based on his extensive experience in economics and governance.

Additionally, Pedro has been involved in mentoring young entrepreneurs, sharing his wealth of knowledge to inspire and guide the next generation of Nigerian business leaders.

His commitment to education and economic development continues to influence his post-political endeavors.

Frequently Asked Questions (FAQs)

What are Femi Pedro’s notable contributions to Nigeria’s banking sector?

Femi Pedro played a significant role in the establishment and expansion of Guaranty Trust Bank in the early 1990s. As one of the pioneer investors and senior managers, he was instrumental in setting up multiple branches across Nigeria, contributing to the bank’s growth and success.

Additionally, as the managing director and CEO of Comet Merchant Bank, which later became FinBank, Pedro introduced innovative strategies that positioned the bank as a competitive player in Nigeria’s financial sector.

His leadership not only fostered financial growth but also introduced a culture of corporate governance and accountability.

What was Femi Pedro’s role as Deputy Governor of Lagos State?

As the Deputy Governor of Lagos State from 2003 to 2007, Femi Pedro played a crucial role in the administration of Governor Bola Tinubu. He focused on economic and infrastructural development, helping to shape policies that drove Lagos’s rapid urban growth during that period.

His efforts were instrumental in the creation of a favorable investment climate in Lagos, as well as in the development of public-private partnerships that benefited the state.

What inspired Femi Pedro to transition from banking to politics?

Femi Pedro’s transition from banking to politics was fueled by his desire to contribute more directly to societal development. After years of success in the private sector, he felt compelled to leverage his economic expertise to drive public policy and governance, particularly in Lagos State.

His experience in managing financial institutions gave him unique insights into improving public administration, which he sought to apply as Deputy Governor.

What are Femi Pedro’s latest contributions to economic policy in Nigeria?

In recent years, Femi Pedro has become a vocal advocate for economic reform in Nigeria. Through public speaking engagements, authored articles, and mentorship programs, he has addressed pressing issues like the nation’s energy crisis, inflation, and unemployment.

Pedro emphasizes the need for sustainable economic policies and reforms that empower small and medium enterprises (SMEs) while fostering job creation and innovation.

What is Femi Pedro’s legacy in Nigerian politics and finance?

Femi Pedro’s legacy lies in his dual impact on Nigeria’s banking and political landscapes. In finance, his contributions to the growth of Guaranty Trust Bank and his leadership in FinBank set benchmarks for excellence in the industry.

In politics, his tenure as Deputy Governor of Lagos State is remembered for its emphasis on economic growth and sustainable urban development. Moreover, his continued involvement in public discourse ensures that his influence remains relevant in shaping Nigeria’s future.

Femi Pedro Biography Conclusion

Femi Pedro’s life and career reflect a deep commitment to Nigeria’s growth and development. From his humble beginnings on Lagos Island to his rise as a banking pioneer and political figure, Pedro’s journey is an inspiring story of vision, resilience, and service.

His impact on Nigeria’s economic and political sectors serves as a testament to his dedication and expertise.

For more insights into Femi Pedro’s life and contributions, visit his official Wikipedia page.