Folorunsho Alakija

Folorunsho Alakija (born July 15, 1951) is a prominent Nigerian businesswoman, philanthropist, and fashion designer. She is widely recognized as one of the wealthiest women in Africa, with interests spanning oil, fashion, real estate, and printing. Early Life and Education Folorunsho Alakija was born in Ikorodu, Lagos State, Nigeria, into a wealthy family as the daughter of Chief L. A. Ogbara. At the age of seven, she traveled to the United Kingdom to begin her primary education at Dinorben School for Girls in Hafodunos, Llangernyw, Wales. She returned to Nigeria after completing her primary schooling and attended Muslim High School, Sagamu, Ogun State. Subsequently, she returned to the UK to study Secretarial Studies at Central Secretarial College, London. She also studied fashion design at the American College in London and the Central School of Fashion, equipping her with the skills that launched her first successful business venture. Career Progression Alakija began her career in 1974 as an executive secretary at Sijuade Enterprises, Lagos, before moving to the First National Bank of Chicago (later acquired by FCMB) where she worked for several years, rising to the position of Head of the Corporate Affairs Department. In 1985, she transitioned from banking to fashion, founding a high-end tailoring company named Supreme Stitches. This company quickly grew into a nationally recognized brand, later rebranded as Rose of Sharon House of Fashion. The brand catered to Nigeria's elite and held a significant position in the country’s fashion industry. Her career took a major turn toward the oil industry in 1993 when she applied for and was granted a license to form Famfa Oil Limited. The company was awarded an oil prospecting license (OPL 216), located in the Agbami field of the central Niger Delta. After securing a partnership with Star Deep Water Petroleum (a subsidiary of Texaco, now Chevron), the block proved to be one of Nigeria’s most prolific deep-water fields. Alakija has since served as the Executive Vice Chairman of Famfa Oil. Major Achievements Alakija's most significant achievement is her pioneering role in Nigeria's oil sector and her subsequent recognition as a self-made billionaire. At one point, she was ranked by Forbes as the richest woman in Africa and one of the most powerful women globally. Her involvement in the deep-water oil sector highlighted a major win for indigenous companies in a field often dominated by international oil corporations. She has also authored several inspirational books and serves as a global public speaker on entrepreneurship and faith. Notable Works and Philanthropy Through her Rose of Sharon Foundation, she supports widows and orphans by empowering them through scholarships and business grants, aiming to alleviate poverty. She also manages the Folorunsho Alakija Scholarship Scheme (FASS) to help underprivileged students. Her role as a fashion icon remains a notable part of her legacy, setting standards for Nigerian haute couture in the 1980s and 1990s. Current Status As of her current status, Folorunsho Alakija remains the Executive Vice Chairman of Famfa Oil Limited. She also continues her work as a philanthropist and evangelist, actively engaging through her various foundations and ministry efforts. She is married to Modupe Alakija, and the couple has four sons.