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.
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 widowsAlakija 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
