Billionaire Femi Otedola has revealed that his friends spend up to N50 million on Champagne when they want to enjoy life.

Otedola said this when he opened up on why he has been engaging in lots of charity work of late.

The billionaire said that the amount spent on champagne which gets passed out as waste is enough to put smiles on the faces of many people.

He said:

“In my circle of friends, many people spend up to N50 million on champagne and generally enjoy life. At the end what happens? It passes out of their bodies as waste.

“For me, therefore (and I also tell my friends), it is important to use such money to benefit others and put smiles on the faces of as many people as we can.”

Some of those whom the billionaire has helped include the former captain of the Green Eagles, Christian Chukwu, late legendary musician Majek Fashek, Nollywood actor Sadiq Daba, etc.