The 63 year old told BBC Sport, "Africa must play a big role in world football,".
Mr. Odegbami becomes the second African to contest for the top job. Candidates wishing to replace the outgoing Sepp Blatter have until 26 October to receive the backing of five Fifa members.
Elections will be held on 26 February, with Uefa chief Michel Platini and South Korea's Chung Mong-joon among those to have already announced their bids.
