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Otedola Splashes N300m On Ferrari cars For Daughters

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Femi Otedola, Nigerian businessman and father to popular entertainer Florence Ifeoluwa Otedola (DJ Cuppy) has spoilt his three daughters with a Ferrari Portofino each.

The 57-year old philanthropist took his three kids shopping and bought the cars.

According to Edmunds, the least-expensive 2019 Ferrari Portofino is the 2019 Ferrari Portofino 2dr Convertible (3.9L 8cyl Turbo 7AM). Including destination charge, it arrives with a Manufacturer’s Suggested Retail Price (MSRP) of about $210,783.

AutoGuide gives a retail price of $215,000 for the 2020 Portofino, the most basic of the Ferrari brands.

In Naira terms the cost will be between N240 and N251 million at the official exchange rate of N387 to a dollar. In the parallel market at N465 to a dollar, it means the billionaire has spent about N300 million on the gifts to his daughters.

Cuppy earlier today flaunted the cars on Twitter in a post that read “Papa took us shopping and bought one of each! #FerrariPortofino #CuppyDat.”

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