Folorunsho Alakija is a prominent Nigerian businesswoman and philanthropist. She is the richest woman in Nigeria.
Known for her remarkable achievements in various industries, she serves as the group managing director of The Rose of Sharon Group and holds the position of executive vice chairman at Famfa Oil Limited.
Early Life and Education
Folorunsho Alakija was born on July 15, 1951 into a large family with five wives and 23 children. Her mother held the significant position of being the first wife.
She had her primary and secondary education in Muslim High School in Shagamu, Nigeria, before moving to England for her secretarial studies at Pitman’s Central College in London.
Career
Alakija’s illustrious career began in 1974 when she began working as an executive secretary at Sijuade Enterprises in Lagos, Nigeria.
Over the years, she held various roles in the banking sector, including executive secretary at the former First National Bank of Chicago, now part of First City Monument Bank.
Her expertise led her to become the Head of the Corporate Affairs Department at the International Merchant Bank of Nigeria.
Despite her success in banking, Alakija pursued her passion for fashion design.
She honed her skills at the American College in London and the Central School of Fashion, eventually establishing her fashion label, Supreme Stitches, which later evolved into The Rose of Sharon House of Fashion.
Her contributions to the fashion industry earned her the presidency of the Fashion Designers Association of Nigeria.
In May 1993, Alakija ventured into the oil industry by applying for an oil prospecting license (OPL).
Her company, Famfa Limited, was granted the license to explore the Agbami Field, located approximately 100km offshore of Nigeria.
Through a joint venture with Star Deep Water Petroleum Limited, a subsidiary of Texaco, Alakija secured a 40 percent stake in the venture.
Ministry
In addition to her successful business endeavors, Alakija is deeply involved in ministry work. She has dedicated herself to spreading the gospel and uplifting others through her faith-based initiatives and philanthropic activities.
Net Worth
According to Forbes, Folorunsho Alakija has an estimated net worth of $1 Billion, making her the richest woman in Nigeria.
Personal Life
She married Modupe Alakija in November 1976, and together they raised four sons. Their family home is located in Ikoyi, Lagos, Nigeria, where they have built a life filled with love, support, and shared values.
Marital Problems
Recently, reports have surfaced regarding marital discord between Folorunsho and Modupe Alakija.
After over three decades of marriage, the couple is said to be facing challenges that have led to their decision to live separately.
While the exact reasons for their separation remain undisclosed, the news has garnered significant attention and speculation within Nigerian society.