Hajia Bola Muinat Shagaya, widely recognized as Bola Shagaya, is a Nigerian business magnate and one of Africa’s wealthiest and most influential female entrepreneurs. Through her conglomerate Bolmus Group International and her leadership in sectors ranging from oil and gas to real estate, banking, and communications, she has built a diversified business empire that has placed her among the richest women on the continent.
Profile Summary
| Full name | Hajia Bola Muinat Shagaya |
| Date of birth | 10 October 1959 |
| Place of birth | Ilorin, Kwara State, Nigeria |
| Nationality | Nigerian |
| State of origin | Kwara State, Nigeria (North‑Central geopolitical zone) |
| Partner | Alhaji Shagaya (transport mogul) |
| Children | Sherif, Hakeem, Deeja Shagaya, Naieema, Amaya Roberts, Adeena Roberts |
| Occupations | Business magnate, conglomerate CEO (Bolmus Group International), oil‑industry leader (Practoil), former chairman of First Bank of Nigeria, philanthropist |
| Net worth | Estimated above $630–650 million USD |
Early Life and Education
Bola Shagaya was born on 10 October 1959 in Ilorin, Kwara State, Nigeria, into a middle‑class family. She completed her secondary education at Queens School, Ilorin, before proceeding to Ahmadu Bello University in Zaria and later to Armstrong College in California, where she studied economics and accounting.
Career
Shagaya is the founder and chief executive officer of Bolmus Group International, a conglomerate with interests in real estate, oil and gas, banking, communications, and photography.
She also serves as managing director of Practoil Limited, one of Nigeria’s largest importers and distributors of base oil, which has cemented her role in the country’s industrial and petroleum‑distribution chains.
Her career trajectory includes senior roles in major institutions, such as being the first female chairman of First Bank of Nigeria, where she was widely praised for her governance and strategic leadership.
Beyond core business, she has supported social development through the Salman Shagaya Foundation, which focuses on education, community empowerment, and philanthropy.
Personal Life
Bola Shagaya is married to Alhaji Shagaya, a transport mogul based in Kwara State. The couple has six children: Sherif, Hakeem, Deeja Shagaya, Naieema, Amaya Roberts, and Adeena Roberts. She is popularly known in Nigerian society not only for her business success but also for her strong presence in fashion and social‑philanthropic circles.
Net Worth
Estimates of Bola Shagaya’s net worth cluster around the mid‑six‑hundred‑million‑dollar range, with several reputable outlets reporting figures above 630–650 million U.S. dollars. This valuation places her among the richest women in Africa and underscores the scale of her conglomerate holdings across oil and gas, real estate, finance, and related sectors.
Awards and Recognition
- Member of the Order of the Niger (MON), conferred in 2010.
- National Productivity Order of Merit Award, won in 2012.
- Awards for Excellence at the ThisDay Annual Awards in 2012.
- Listed by Forbes as one of the “Ten Millionaires to Watch in Africa” in 2012.
Hajia Bola Muinat Shagaya is not just a business magnate; she is a living example of what determination, faith, and hard work can achieve. Rising from a modest background in Ilorin to becoming one of Africa’s richest and most respected women, she has balanced massive success in oil and gas, banking, real estate, and communications with a deep commitment to family, faith, and community.
