Fatomilola is the son of Chief Abraham Ojo Fatomilola and Mrs. Elizabeth Fatomilola. His father, a Chief Ifa Priest, influenced his herbalist roles in Nigerian films. In 1967, he joined the Olokun Theatre group under Professor Ola Rotimi's guidance at Obafemi Awolowo University. Fatomilola, an academic staff at the university, earned a Bachelor of Arts degree in Theatre Arts in 1978. Notably, he was the first Papa Ajasco in Wale Adenuga's comedy film and has featured in films like "Sango." His versatile acting includes roles as a priest in various Yoruba films.