Biography And Education Of Folorunsho Alakija
Folorunsho Alakija, 70, is regarded as Nigeria’s wealthiest woman and one of Africa’s wealthiest women. Folorunsho Alakija is a philanthropist as well as a successful businesswoman in the fashion, printing, real estate, and oils businesses.
Folorunsho Alakija was born on July 15, 1951, in Ikorodu, Lagos State, to the family of Chief L.A Ogbara. She was the eighth child of a family of 52 children. Dinorben School for Girls in Hafodunos Hall in Llangernyw, Wales, was where she received her elementary school education when she was seven years old. She returned to Nigeria after completing her four-year education to attend Muslim High School in Ogun State. Folorunsho Alakija began her secretarial education at Pitman’s Central College in London when she was 17 years old. She also studied fashion design at the American College in London while in London.
Folorunsho Alakija’s first employment was as an executive secretary at Sijuade Enterprises in Lagos, Nigeria, in 1974. She also worked at Chicago’s First National Bank. Folorunsho Alakija’s first personal business, Supreme Stitches, is related to fashion. Supreme Stitches catered to the fashion needs and tastes of Nigeria’s rich women. One of her customers was the wife of General Ibrahim Babangida. The company immediately became well-known. Folorunsho Alakija’s fashion sense continues to promote Nigerian design and style; as a result, she is the National President of the Fashion Designers Association of Nigeria and a lifelong trustee (FADAN).
In May 1993, she applied for and was given an oil prospecting license by the Nigerian government to explore for oil on a 617,000-acre block—now known as OPL 216—by Alakija’s business, Famfa Oil Limited. The oil block is located in the central Niger Delta’s Agbami Field.
She formed a joint partnership with Star Deep Water Petroleum Limited three years later (a wholly-owned subsidiary of Texaco). She went on to appoint Star Deep Water as her technical consultant for the exploration of her license, and she gave the business 40% of her 100% ownership. Chevron and Petrobas are partners with FamFa Oil Limited. After the word went viral that they had struck oil on her oil block, the Nigerian government grabbed a total of 50% of her share. Folorunsho Alakija launched a long-running legal battle with them. Despite the fact that the battle was long and tense, Folorunsho Alakija emerged victoriously and received her stakes back.
She is Nigeria’s first female Chancellor, having been appointed in 2016. She is the executive vice-chairman of Famfa Oil Limited and the Group Managing Director of The Rose of Sharon Group, which includes The Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited, and The Rose of Sharon Prints & Promotions Limited.
Folorunsho Alakija Husband
In addition, in 1976, Folorunsho Alakija married Modupe Alakija, a lawyer. The couple has four sons as a result of their union.
Philanthropic Acts of Folorunsho Alakija
Furthermore, Folorunsho Alakija is passionate about education. Her philanthropic activities include granting scholarships to a number of Nigerian youngsters. Her business is a significant supporter of the Agbami Medical and Engineering Scholarship Scheme.
She also owns a foundation named The Rose of Sharon Foundation, which provides business loans and scholarships to widows and orphans. She’s also given the Yaba College of Technology a skills acquisition center.
Folorunsho Alakija has credited God for her accomplishment, adding, “I am not an overnight success.” Like everyone else, I’ve had to make sacrifices and overcome obstacles, but I’ve never given up. I have not put myself, my ideals, or my faith in jeopardy.”
Folorunsho Alakija’s net worth
Folorunsho Alakija’s net worth is unknown.
Her net worth is believed to be just under $1 billion dollars. Because of reduced oil prices, she slid off Forbes’ list of billionaires.
She also owns a luxurious home in Lagos, Nigeria. Julius Berger, a well-known German brand, was in charge of the construction of this home. Although no interior photos of the mansion have been released, we imagine it is magnificent and lavishly furnished.
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