Folorunsho Alakija is a renowned Nigerian businesswoman and philanthropist, celebrated as one of Africa’s richest women. Born on July 15, 1951, in Ikorodu, Lagos State, Nigeria, she has built a diverse business empire spanning oil, fashion, real estate, and printing.
Profile Summary
| Full Name | Folorunsho Alakija |
| Date of Birth | July 15, 1951 |
| Place of Birth | Ikorodu, Lagos State, Nigeria |
| State of Origin | Lagos State |
| Nationality | Nigerian |
| Partner | Modupe Alakija |
| Children | Four sons |
| Occupations | Businesswoman, Philanthropist, Fashion Designer, Oil Executive |
| Net Worth | Approximately $1 billion |
Early Life and Education
Alakija grew up in a large family with 52 siblings. She moved to the UK at age ten for her education, attending Muslim High School in Sagamu, Nigeria, and later studying secretarial skills at Pitman’s Central College in London.
She also pursued fashion design at the American College in London and the Central School of Fashion.
Career
Alakija started her career in 1974 as an executive secretary at Sijuade Enterprises in Lagos. She later worked at the former First National Bank of Chicago and became the Head of Corporate Affairs at the International Merchant Bank of Nigeria.
In 1984, she transitioned to fashion, establishing Supreme Stitches, which became a leading fashion label in Nigeria. She served as president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).
In 1993, Alakija ventured into the oil industry by applying for an oil prospecting license. Her company, Famfa Oil Limited, partnered with Star Deep Water Petroleum Limited to explore the Agbami Field, leading to significant oil discoveries.
She is the Executive Vice Chairman of Famfa Oil Limited and oversees its strategic planning. Additionally, she is involved in real estate through Dayspring Property Development Company Limited and in printing through Digital Reality Print Limited.
Alakija is also the Group Managing Director of The Rose of Sharon Group, which encompasses various business ventures.
Personal Life
Folorunsho Alakija has been married to Modupe Alakija since November 1976. They have four sons together and reside in Lagos. Her son Folarin married Iranian model Nazanin Jafarian Ghaissarifar in June 2017.
Health Challenges
Folorunsho Alakija has been facing significant health challenges. Recent reports indicate that she has lost her eyesight completely following a health crisis triggered by a near-air mishap.
The incident occurred while she was traveling with her husband, Modupe Alakija, and resulted in a sudden spike in her blood pressure, which affected her vision.
Alakija’s health issues have been ongoing, with sources suggesting that she has been experiencing eyesight problems for some time.
Folorunsho Alakija Net Worth
As of recent estimates, Alakija’s net worth is approximately $1 billion, primarily derived from her oil interests.
Philanthropy
Alakija is deeply involved in philanthropy through the Rose of Sharon Foundation, which supports widows and orphans by providing educational programs and scholarships. She also founded Flourish Africa, a platform to empower women entrepreneurs.
Recognition
Alakija has been globally recognized for her achievements. She was ranked as the 87th most powerful woman in the world by Forbes in 2015, the richest woman in Africa in 2021 and has received honorary degrees, including a doctorate from Benson Idahosa University.
She is the first female Chancellor of a public university in Africa.
