Folorunso Alakija, 62, a mother of four, started her career as a secretary in a bank then studied fashion and launched a label but one of her biggest breaks was in the male dominated oil sector in Nigeria. She is now a renowned business tycoon involved in fashion, oil and printing industries.
Her company, FAMFA OIL, is an indigenous Nigerian oil and gas exploration that has earned her a fortune. She is probably one of the richest self-made woman in Africa and one of just two female billionaires on the continent.
Her company, Famfa oil, which is an indigenous Nigerian oil and gas exploration company was awarded prospecting license in 1993. The company prospects one of the Nigeria’s prolific oil blocks. The company owns 60 percent with a stake in the block value at around $7.3 billion.
She is probably richer than Oprah
Folorunso is perhaps the richest self-made woman in Africa and one of just two in the continent. She has an estimated value of around $ 7.3 billion. At that amount, she has perhaps unseated Oprah as the richest black woman in the world.
She supports orphaned children and widows
Alakija has a charity called the Rose of Sharon Foundation that helps widows and orphans by empowering them through scholarships and business grants. This is an art she developed in her early forties.
She head an arts committee for the Nigerian government
Alakija was appointed to this position by the Nigerian minister for culture. This organization that seeks to promote and preserve unique and uncommon assets of heritage significance and registration of such places.
She is a family woman
In November 1976, Alakija got married to Modupe Alakija and has never looked back. They reside in Lagos, Nigeria with their four sons and grandchildren. British-Nigerian DJ Exclusive is her nephew.
She is the 87th most powerful woman in the world
Alakija was ranked 87 th in the world’s most powerful women in the world in 2015. This was a survey done by Forbes. Alongside Alakija was Nigeria’s finance minister Ngozi Okojo.
She was born in a wealthy polygamous family
Folorunso was born in 1951 to a family of polygamous wealthy Nigerian chief. His father, L.A.Oghara of Ikorudu village in Lagos state had 8 wives and 52 children.
Most of Folorunso’s early life and education was in the UK
She attended her primary education in the United Kingdom. She then returned to Nigeria for high school studies. She later attended her secretarial studies at Pitman’s Central College, London.
She is a managing director for a string of organizations
Folorunso is the managing director of a string of organizations in Nigeria. This include The Rose of Sharon Prints, Promotions Limited and Digital Reality Prints Limited. This organizations make up the Rose of Sharon Group. She is also the executive vice chairman of Famfa oil Limited.
She never went to University
Alakija pursued secretarial studies and fashion design as a young woman in London. She then returned in Nigeria to work as a secretary in a Merchant bank. She later founded the supreme stitches, a tailoring outfit.
She got involved in the oil business through a friend
Alakija got involved in business of oil through a friend she met in the fashion industry. They were allocated an oil block after which oil giant Texaco struck oil deals in commercial quantities after they had agreed on the terms and conditions.
She’s termed as Nigeria’s no. 1 billionaire fashion designer
Alakija has invested in real estate worth $100 million. She also owns a private jet Bombardier Global Express 6000 nearly worth $46 million. She is thus termed as Nigeria’s no. 1 billionaire fashion designer.