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'''Folorunsho Alakija''' (born July 15, 1951) is a Nigerian businesswoman and philanthropist.<ref>{{cite magazine|last1=Iyengar|first1=Rishi|title=Here's She is the World's Richest Black woman in the world|url=http://time.com/3649223/richest-black-woman-folorunso-alakija-oprah-winfrey-nigeria/|archive-url=https://web.archive.org/web/20180503025255/http://time.com/3649223/richest-black-woman-folorunso-alakija-oprah-winfrey-nigeria/|url-status=dead|archive-date=3 May 2018|magazine=[[Time (magazine)|Time]]|access-date=30 December 2014|date=30 December 2014}}</ref><ref name=fa>{{Cite web|title=Folorunso Alakija|url=https://africa.harvard.edu/people/folorunso-alakija|access-date=20 May 2021|website=africa.harvard.edu|language=en}}</ref>
'''Folorunsho Alakija''' (born July 15, 1951) is a Nigerian businesswoman and philanthropist.<ref>{{cite magazine|last1=Iyengar|first1=Rishi|title=Here's She is the World's Richest Black woman in the world|url=http://time.com/3649223/richest-black-woman-folorunso-alakija-oprah-winfrey-nigeria/|archive-url=https://web.archive.org/web/20180503025255/http://time.com/3649223/richest-black-woman-folorunso-alakija-oprah-winfrey-nigeria/|url-status=dead|archive-date=3 May 2018|magazine=[[Time (magazine)|Time]]|access-date=30 December 2014|date=30 December 2014}}</ref><ref name=fa>{{Cite web|title=Folorunso Alakija|url=https://africa.harvard.edu/people/folorunso-alakija|access-date=20 May 2021|website=africa.harvard.edu|language=en}}</ref> She is currently the group managing director of The Rose of Sharon Group and also serves as executive vice chairman of Famfa Oil Limited.<ref>{{cite web |title=Folorunso Alakija |url=https://folorunsoalakija.com/about-me/ |publisher=Folorunsho Alakija |access-date=27 April 2021 |archive-date=27 April 2021 |archive-url=https://web.archive.org/web/20210427025749/https://folorunsoalakija.com/about-me/ |url-status=dead }}</ref>

She is the group managing director of The Rose of Sharon Group and the executive vice chairman of Famfa Oil Limited.<ref>{{cite web |title=Folorunso Alakija |url=https://folorunsoalakija.com/about-me/ |publisher=Folorunsho Alakija |access-date=27 April 2021 |archive-date=27 April 2021 |archive-url=https://web.archive.org/web/20210427025749/https://folorunsoalakija.com/about-me/ |url-status=dead }}</ref>


== Early life==
== Early life==
Alakija was born on July 15, 1951. Her father had 8 wives and 52 children (https://www.arabellastarmagazine.com/the-biography-of-folorunsho-alakija/), and Folorunso's mother was the [[Senior Wife|first]].<ref>{{Cite web |date=2021-07-18 |title=Covenant I made with God at age 40 — Folorunso's Alakija |url=https://punchng.com/covenant-i-made-with-god-at-age-40-folorunsho-alakija/ |access-date=2023-01-20 |website=Punch Newspapers |language=en-US}}</ref> She is from the Yoruba tribe of south-western Nigeria .<ref>{{Cite web |last=Sadiq |first=Mobola |date=2021-07-18 |title=Covenant I made with God at age 40 — Folorunsho Alakija |url=https://punchng.com/covenant-i-made-with-god-at-age-40-folorunsho-alakija/ |access-date=2024-02-10 |website=Punch Newspapers |language=en-US}}</ref> At the age of ten, Alakija traveled to the United Kingdom for her education. Alakija attended Muslim High School in [[Shagamu]], Nigeria. She then returned to England for her secretarial studies at Pitman's Central College, London.<ref name=fa/>
Alakija was born on July 15, 1951. Her father, L. A. Ogbara, had 8 wives and 52 children,<ref>{{Cite web |title=FOLORUNSHO ALAKIJA - A Pathway For Very Female Entrepreneur |url=https://www.arabellastarmagazine.com/the-biography-of-folorunsho-alakija/ |access-date=24 April 2024 |publisher=Alamin Abdulhadi}}</ref> and Folorunso's mother was his [[Senior Wife|first]].<ref>{{Cite web |date=2021-07-18 |title=Covenant I made with God at age 40 — Folorunso's Alakija |url=https://punchng.com/covenant-i-made-with-god-at-age-40-folorunsho-alakija/ |access-date=2023-01-20 |website=Punch Newspapers |language=en-US}}</ref> She is from the Yoruba ethnicity of south-western Nigeria.<ref>{{Cite web |last=Sadiq |first=Mobola |date=2021-07-18 |title=Covenant I made with God at age 40 — Folorunsho Alakija |url=https://punchng.com/covenant-i-made-with-god-at-age-40-folorunsho-alakija/ |access-date=2024-02-10 |website=Punch Newspapers |language=en-US}}</ref> At the age of ten, Alakija traveled to the [[United Kingdom]] for her education. Alakija attended Muslim High School in [[Shagamu]], Nigeria. She then returned to England for her secretarial studies at Pitman's Central College, London.<ref name=fa/>


==Career==
==Career==
Alakija started her 12-year banking career in 1974 as an executive secretary at Sijuade Enterprises in [[Lagos]], Nigeria. She moved to the former First National Bank of [[Chicago]], which later became [[FinBank Nigeria|FinBank]] now acquired by [[First City Monument Bank]] as the Executive Secretary to the Managing Director. She became the new Head of the Corporate Affairs Department of the International Merchant Bank of Nigeria (formerly First National Bank of Chicago) and later became the Office Assistant to the Treasury Department.<ref>{{Cite web |title=Business – Alakija |url=https://folorunsoalakija.com/business/ |access-date=2023-08-31 |language=en-US |archive-date=27 April 2021 |archive-url=https://web.archive.org/web/20210427032731/https://folorunsoalakija.com/business/ |url-status=dead }}</ref><ref>{{Cite web |title=Folorunsho Alakija Biography - Biopreneur Nigeria |url=https://www.biopreneur.com.ng/2022/08/folorunsho-alakija-biography.html |access-date=2023-08-31 |language=en}}</ref>
Alakija started her 12-year banking career in 1974 as an executive secretary at Sijuade Enterprises in [[Lagos]], Nigeria. She moved to the former First National Bank of [[Chicago]] as the Executive Secretary to the Managing Director. She became the Head of the Corporate Affairs Department of the International Merchant Bank of Nigeria, and later became the Office Assistant to the Treasury Department.<ref>{{Cite web |title=Business – Alakija |url=https://folorunsoalakija.com/business/ |access-date=2023-08-31 |language=en-US |archive-date=27 April 2021 |archive-url=https://web.archive.org/web/20210427032731/https://folorunsoalakija.com/business/ |url-status=dead }}</ref><ref>{{Cite web |title=Folorunsho Alakija Biography - Biopreneur Nigeria |url=https://www.biopreneur.com.ng/2022/08/folorunsho-alakija-biography.html |access-date=2023-08-31 |language=en}}</ref>


Alakija then studied [[fashion design]] at the American College in London and the Central School of Fashion.<ref>{{cite web |last1=Folorunsho |first1=Alakija |title=Success in the Fashion World |url=https://folorunsoalakija.com/business/ |website=folorunshoalakija |publisher=Folorunsho Alakija |access-date=27 April 2021 |archive-date=27 April 2021 |archive-url=https://web.archive.org/web/20210427032731/https://folorunsoalakija.com/business/ |url-status=dead }}</ref> She started a fashion label known as Supreme Stitches, which was later renamed The Rose of Sharon House of Fashion in 1996.<ref name="nation">{{cite news |last=Falode |first=Kehinde |date=17 September 2011 |title=Fashion icon, Folorunso Alakija at 62 |work=[[The Nation (Nigeria)|The Nation]] |url=http://www.thenationonlineng.net/2011/index.php/saturday-magazine/special-report/19789-my-husband-swept-me-off-my-feet-the-very-first-time-we-met-fashion-icon-folorunso-alakija-at-60.html |access-date=20 June 2013}}{{Dead link|date=February 2022|bot=InternetArchiveBot|fix-attempted=yes}}</ref><ref>{{cite news|url=https://www.forbes.com/profile/folorunsho-alakija|title= Folorunsho Alakija|date=November 2012 |access-date=19 December 2012|work=Forbes}}</ref> She was the president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).<ref name="Wilson">{{cite news |last=Wilson |first=Julee |date=5 December 2012 |title=Richest Black Woman in the World, Folorunso Alakija, Was A Major Fashion Designer in Africa |work=The Huffington Post |url=http://www.huffingtonpost.com/2012/12/05/folorunso-alakija-richest-black-woman-fashion-designer_n_2245703.html}}</ref><ref>{{cite news |last=Gabriel |first=Gift |title= I moved out of the crowd to get it right – Mrs Alakija |url= http://www.vanguardngr.com/2012/06/i-moved-out-of-the-crowd-to-get-it-right-mrs-alakija/|work=Sunday Tribune |location=Nigeria |date=24 June 2012 }}</ref>
Alakija then studied [[fashion design]] at the American College in London and the Central School of Fashion.<ref>{{cite web |last1=Folorunsho |first1=Alakija |title=Success in the Fashion World |url=https://folorunsoalakija.com/business/ |website=folorunshoalakija |publisher=Folorunsho Alakija |access-date=27 April 2021 |archive-date=27 April 2021 |archive-url=https://web.archive.org/web/20210427032731/https://folorunsoalakija.com/business/ |url-status=dead }}</ref> She started a fashion label called Supreme Stitches, renamed in 1996 as The Rose of Sharon House of Fashion.<ref name="nation">{{cite news |last=Falode |first=Kehinde |date=17 September 2011 |title=Fashion icon, Folorunso Alakija at 62 |work=[[The Nation (Nigeria)|The Nation]] |url=http://www.thenationonlineng.net/2011/index.php/saturday-magazine/special-report/19789-my-husband-swept-me-off-my-feet-the-very-first-time-we-met-fashion-icon-folorunso-alakija-at-60.html |access-date=20 June 2013}}{{Dead link|date=February 2022|bot=InternetArchiveBot|fix-attempted=yes}}</ref><ref>{{cite news|url=https://www.forbes.com/profile/folorunsho-alakija|title= Folorunsho Alakija|date=November 2012 |access-date=19 December 2012|work=Forbes}}</ref> She was the president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).<ref name="Wilson">{{cite news |last=Wilson |first=Julee |date=5 December 2012 |title=Richest Black Woman in the World, Folorunso Alakija, Was A Major Fashion Designer in Africa |work=The Huffington Post |url=http://www.huffingtonpost.com/2012/12/05/folorunso-alakija-richest-black-woman-fashion-designer_n_2245703.html}}</ref><ref>{{cite news |last=Gabriel |first=Gift |title= I moved out of the crowd to get it right – Mrs Alakija |url= http://www.vanguardngr.com/2012/06/i-moved-out-of-the-crowd-to-get-it-right-mrs-alakija/|work=Sunday Tribune |location=Nigeria |date=24 June 2012 }}</ref>


In May 1993, Alakija applied for the allocation of an oil prospecting license (OPL).<ref>{{cite news|title=The Richest Black Woman in the World, Folorunsho Alakija|url=http://www.ventures-africa.com/2012/11/the-richest-black-woman-in-the-world-folorunsho-alakija|work=Ventures Africa|location=Lagos|date=29 November 2012|access-date=25 July 2013|archive-date=16 April 2015|archive-url=https://web.archive.org/web/20150416022055/http://www.ventures-africa.com/2012/11/the-richest-black-woman-in-the-world-folorunsho-alakija/|url-status=dead}}</ref> The license to explore for oil on a 617,000-acre block, which is about 100km offshore of Nigeria, in the [[Agbami Field]] was granted to Alakija's company, Famfa Limited. In September 1996, Alakija entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly owned subsidiary of [[Texaco]]) transferring a 40 percent stake to Star Deep.<ref>{{cite news |title=Folorunso Alakija richest black woman on earth |url=http://pmnewsnigeria.com/2012/12/05/folorunso-alakija-richest-black-woman-on-earth/|work=PM News |date=25 December 2012 }}</ref><ref>{{cite news |title=Agbami Oilfield, Nigeria|url= http://www.offshore-technology.com/projects/agbami |work=offshore technology.com |location=Nigeria }}</ref>
In May 1993, Alakija applied for the allocation of an oil prospecting license (OPL).<ref>{{cite news|title=The Richest Black Woman in the World, Folorunsho Alakija|url=http://www.ventures-africa.com/2012/11/the-richest-black-woman-in-the-world-folorunsho-alakija|work=Ventures Africa|location=Lagos|date=29 November 2012|access-date=25 July 2013|archive-date=16 April 2015|archive-url=https://web.archive.org/web/20150416022055/http://www.ventures-africa.com/2012/11/the-richest-black-woman-in-the-world-folorunsho-alakija/|url-status=dead}}</ref> The license to explore for oil on a 617,000-acre block, about {{Value|100|u=km}} offshore of Nigeria, in the [[Agbami Field]], was granted to Alakija's company, Famfa Limited. In September 1996, Alakija entered into a joint venture agreement with Star Deep Water Petroleum Limited, transferring a 40 percent stake to Star Deep.<ref>{{cite news |title=Folorunso Alakija richest black woman on earth |url=http://pmnewsnigeria.com/2012/12/05/folorunso-alakija-richest-black-woman-on-earth/|work=PM News |date=25 December 2012 }}</ref><ref>{{cite news |title=Agbami Oilfield, Nigeria|url= http://www.offshore-technology.com/projects/agbami |work=offshore technology.com |location=Nigeria }}</ref> After they struck oil, the Nigerian government claimed a 40% stake, followed by an additional 10%.<ref>{{Cite news |date=17 September 2016 |title=How Africa's second richest woman gained her fortune - CNBC Africa |language=en-US |work=CNBC Africa |url=https://www.cnbcafrica.com/news/west-africa/2016/09/17/africas-second-richest-woman/ |url-status=dead |access-date=3 August 2018 |archive-date=4 August 2018 |archive-url=https://web.archive.org/web/20180804014404/https://www.cnbcafrica.com/news/west-africa/2016/09/17/africas-second-richest-woman/ }}</ref> The government argued that if Alakija and her family were allowed to keep their block, Alakija would dispute this claim and win.<ref>{{Cite news|url=https://tithehacker.org/christian-entrepreneur/|title=5 Lessons Folorunsho Alakija Could Teach Christian Entrepreneurs - Tithehacker.org|date=29 July 2018|work=Tithehacker.org|access-date=3 August 2018|language=en-US|archive-date=4 August 2018|archive-url=https://web.archive.org/web/20180804014145/https://tithehacker.org/christian-entrepreneur/|url-status=dead}}</ref>

After they struck oil, the Nigerian government claimed a 40% stake, followed by an additional 10%.<ref>{{Cite news |date=17 September 2016 |title=How Africa's second richest woman gained her fortune - CNBC Africa |language=en-US |work=CNBC Africa |url=https://www.cnbcafrica.com/news/west-africa/2016/09/17/africas-second-richest-woman/ |url-status=dead |access-date=3 August 2018 |archive-date=4 August 2018 |archive-url=https://web.archive.org/web/20180804014404/https://www.cnbcafrica.com/news/west-africa/2016/09/17/africas-second-richest-woman/ }}</ref> The government argued that if Alakija and her family were allowed to keep their block, Alakija would dispute this claim and win.<ref>{{Cite news|url=https://tithehacker.org/christian-entrepreneur/|title=5 Lessons Folorunsho Alakija Could Teach Christian Entrepreneurs - Tithehacker.org|date=29 July 2018|work=Tithehacker.org|access-date=3 August 2018|language=en-US|archive-date=4 August 2018|archive-url=https://web.archive.org/web/20180804014145/https://tithehacker.org/christian-entrepreneur/|url-status=dead}}</ref>


==Recognition==
==Recognition==
Alakija has been listed among the [[Forbes]] World's 100 most powerful women multiple times.<ref name="Forbes-Nigerians make Forbes' most powerful women list">{{cite web|last1=Sotubo|first1=Jola|title=Nigerians make Forbes' most powerful women list|url=http://pulse.ng/local/okonjo-iweala-alakija-nigerians-make-forbes-most-powerful-women-list-full-list-id3799337.html|work=Forbes|access-date=28 May 2015|date=27 May 2015}}</ref><ref name="Forbes142">{{cite news |title=The World's 100 Most Powerful Women |work=Forbes |url=https://www.forbes.com/power-women/list/2/#tab:overall |access-date=26 June 2014}}</ref>
''[[Forbes]]'' has listed Alakija among the world's 100 most powerful women,<ref name="Forbes-Nigerians make Forbes' most powerful women list">{{cite web|last1=Sotubo|first1=Jola|title=Nigerians make Forbes' most powerful women list|url=http://pulse.ng/local/okonjo-iweala-alakija-nigerians-make-forbes-most-powerful-women-list-full-list-id3799337.html|work=Forbes|access-date=28 May 2015|date=27 May 2015}}</ref><ref name="Forbes142">{{cite news |title=The World's 100 Most Powerful Women |work=Forbes |url=https://www.forbes.com/power-women/list/2/#tab:overall |access-date=26 June 2014}}</ref> and has been ranked as the richest woman in Africa.{{Citation needed|date=June 2024}}


On July 17, 2021, [[Benson Idahosa University]], Benin City, bestowed on her an honorary doctorate degree in business administration.
On July 17, 2021, [[Benson Idahosa University]], [[Benin City]], she received an honorary doctorate degree in business administration.{{Citation needed|date=June 2024}}


==Philanthropy==
==Philanthropy==
Alakija established the Rose of Sharon Foundation that helps widows and orphans through scholarships and business grants.<ref>{{cite web |last1=Folorunsho |first1=Alakija |title=Folorunsho Alakija Foundation |url=https://folorunsoalakija.com/foundation/ |website=folorunshoalakija |publisher=Folorunsho Alakija |access-date=27 April 2021}}</ref> Alakija has donated a skills acquisition center to [[Yaba College of Technology|Yaba College of Technology (Yabatech)]], a higher educational institution located in Lagos.<ref>{{cite news|last=Ellis|first=Jessica |title= Nigerian billionaire takes on cause of 'mistreated widows'|url= http://edition.cnn.com/2012/02/16/world/africa/folorunso-alakija-philanthropist-nigeria|work=CNN|date=16 February 2012}}</ref><ref>{{cite news|last=Amos|first=Adaeze|title=My passion for widows and orphans –Folorunso Alakija|work=National Mirror|location=Nigeria |date=26 May 2013}}</ref><ref>{{Cite web|last=Nsehe|first=Mfonobong|title=Nigeria's Richest Woman Folorunsho Alakija Donates Skills Acquisition Center To School|url=https://www.forbes.com/sites/mfonobongnsehe/2018/10/04/nigerias-richest-woman-folorunsho-alakija-donates-skills-acquisition-center-to-school/|access-date=27 July 2020|website=Forbes|language=en}}</ref>
Alakija established the Rose of Sharon Foundation, which was intended to grant widows and orphans scholarships and business grants.<ref>{{cite web |last1=Folorunsho |first1=Alakija |title=Folorunsho Alakija Foundation |url=https://folorunsoalakija.com/foundation/ |website=folorunshoalakija |publisher=Folorunsho Alakija |access-date=27 April 2021}}</ref> Alakija has donated a skills acquisition center to [[Yaba College of Technology|Yaba College of Technology (Yabatech)]], a higher educational institution located in Lagos.<ref>{{cite news|last=Ellis|first=Jessica |title= Nigerian billionaire takes on cause of 'mistreated widows'|url= http://edition.cnn.com/2012/02/16/world/africa/folorunso-alakija-philanthropist-nigeria|work=CNN|date=16 February 2012}}</ref><ref>{{cite news|last=Amos|first=Adaeze|title=My passion for widows and orphans –Folorunso Alakija|work=National Mirror|location=Nigeria |date=26 May 2013}}</ref><ref>{{Cite web|last=Nsehe|first=Mfonobong|title=Nigeria's Richest Woman Folorunsho Alakija Donates Skills Acquisition Center To School|url=https://www.forbes.com/sites/mfonobongnsehe/2018/10/04/nigerias-richest-woman-folorunsho-alakija-donates-skills-acquisition-center-to-school/|access-date=27 July 2020|website=Forbes|language=en}}</ref>


==Personal life==
==Personal life==
Alakija married Modupe Alakija in November 1976.<ref>{{cite web|url=https://moneyinc.com/folorunso-alakija-richest-woman-africa/|title=Meet Folorunso Alakija: The Richest Woman in Africa
Alakija married Modupe Alakija in November 1976.<ref>{{cite web|url=https://moneyinc.com/folorunso-alakija-richest-woman-africa/|title=Meet Folorunso Alakija: The Richest Woman in Africa
|website=Money Inc.|author=Allen Lee|date=9 October 2019
|website=Money Inc.|author=Allen Lee|date=9 October 2019
|access-date=31 March 2020}}</ref> They reside in Lagos, Nigeria, with their four sons.<ref name="vanguard">{{cite news|url=http://www.vanguardngr.com/2011/09/my-life-is-full-of-blissful-moments-folorunso-alakija/|title=My life is full of blissful moments – Folorunso Alakija|last=Sessou|first=Ebun|date=9 September 2011|work=The Vanguard|location=Nigeria}}</ref> In June 2017, their son Folarin Alakija married Iranian model Nazanin Jafarian Ghaissarifar.<ref>{{Cite news |title=Folarin Alakija marries Nazanin Jafarian Ghaissarifar in a luxurious $8 million wedding |url=https://news.com.au/lifestyle/relationships/marriage/folarin-alakija-marries-nazanin-jafarian-ghaissarifar-in-a-luxurious-8-million-wedding/news-story/ea0ef9dce9d14375f1f8ec3e6a275b2f}}</ref>
|access-date=31 March 2020}}</ref> They reside in Lagos, Nigeria, with their four sons.<ref name="vanguard">{{cite news|url=http://www.vanguardngr.com/2011/09/my-life-is-full-of-blissful-moments-folorunso-alakija/|title=My life is full of blissful moments – Folorunso Alakija|last=Sessou|first=Ebun|date=9 September 2011|work=The Vanguard|location=Nigeria}}</ref> In June 2017, their son, Folarin Alakija, married Iranian model Nazanin Jafarian Ghaissarifar.<ref>{{Cite news |title=Folarin Alakija marries Nazanin Jafarian Ghaissarifar in a luxurious $8 million wedding |url=https://news.com.au/lifestyle/relationships/marriage/folarin-alakija-marries-nazanin-jafarian-ghaissarifar-in-a-luxurious-8-million-wedding/news-story/ea0ef9dce9d14375f1f8ec3e6a275b2f}}</ref>


==References==
==References==
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==External links==
==External links==
{{sisterlinks|d=Q8564253|c=Category:Folorunso Alakija|n=no|b=no|v=no|voy=no|m=no|mw=no|s=no|wikt=no|species=no}}
{{sisterlinks|d=Q8564253|c=Category:Folorunso Alakija|n=no|b=no|v=no|voy=no|m=no|mw=no|s=no|wikt=no|species=no}}
* {{official website|url=http://www.folorunsoalakija.com}}
* {{official website|url=http://www.folorunsoalakija.com}}<br />


{{authority control}}
{{authority control}}


Latest revision as of 02:12, 1 July 2024

Folorunso Alakija
Born (1951-07-15) 15 July 1951 (age 72)
Ikorodu, Western Region, British Nigeria
(now Ikorodu, Lagos State)
OccupationBusinesswoman
Spouse
Modupe Alakija
​
(m. 1976)​
Children4
Websitewww.folorunsoalakija.com

Folorunsho Alakija (born July 15, 1951) is a Nigerian businesswoman and philanthropist.[1][2] She is currently the group managing director of The Rose of Sharon Group and also serves as executive vice chairman of Famfa Oil Limited.[3]

Early life[edit]

Alakija was born on July 15, 1951. Her father, L. A. Ogbara, had 8 wives and 52 children,[4] and Folorunso's mother was his first.[5] She is from the Yoruba ethnicity of south-western Nigeria.[6] At the age of ten, Alakija traveled to the United Kingdom for her education. Alakija attended Muslim High School in Shagamu, Nigeria. She then returned to England for her secretarial studies at Pitman's Central College, London.[2]

Career[edit]

Alakija started her 12-year banking career in 1974 as an executive secretary at Sijuade Enterprises in Lagos, Nigeria. She moved to the former First National Bank of Chicago as the Executive Secretary to the Managing Director. She became the Head of the Corporate Affairs Department of the International Merchant Bank of Nigeria, and later became the Office Assistant to the Treasury Department.[7][8]

Alakija then studied fashion design at the American College in London and the Central School of Fashion.[9] She started a fashion label called Supreme Stitches, renamed in 1996 as The Rose of Sharon House of Fashion.[10][11] She was the president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).[12][13]

In May 1993, Alakija applied for the allocation of an oil prospecting license (OPL).[14] The license to explore for oil on a 617,000-acre block, about 100 km offshore of Nigeria, in the Agbami Field, was granted to Alakija's company, Famfa Limited. In September 1996, Alakija entered into a joint venture agreement with Star Deep Water Petroleum Limited, transferring a 40 percent stake to Star Deep.[15][16] After they struck oil, the Nigerian government claimed a 40% stake, followed by an additional 10%.[17] The government argued that if Alakija and her family were allowed to keep their block, Alakija would dispute this claim and win.[18]

Recognition[edit]

Forbes has listed Alakija among the world's 100 most powerful women,[19][20] and has been ranked as the richest woman in Africa.[citation needed]

On July 17, 2021, Benson Idahosa University, Benin City, she received an honorary doctorate degree in business administration.[citation needed]

Philanthropy[edit]

Alakija established the Rose of Sharon Foundation, which was intended to grant widows and orphans scholarships and business grants.[21] Alakija has donated a skills acquisition center to Yaba College of Technology (Yabatech), a higher educational institution located in Lagos.[22][23][24]

Personal life[edit]

Alakija married Modupe Alakija in November 1976.[25] They reside in Lagos, Nigeria, with their four sons.[26] In June 2017, their son, Folarin Alakija, married Iranian model Nazanin Jafarian Ghaissarifar.[27]

References[edit]

  1. ^ Iyengar, Rishi (30 December 2014). "Here's She is the World's Richest Black woman in the world". Time. Archived from the original on 3 May 2018. Retrieved 30 December 2014.
  2. ^ a b "Folorunso Alakija". africa.harvard.edu. Retrieved 20 May 2021.
  3. ^ "Folorunso Alakija". Folorunsho Alakija. Archived from the original on 27 April 2021. Retrieved 27 April 2021.
  4. ^ "FOLORUNSHO ALAKIJA - A Pathway For Very Female Entrepreneur". Alamin Abdulhadi. Retrieved 24 April 2024.
  5. ^ "Covenant I made with God at age 40 — Folorunso's Alakija". Punch Newspapers. 18 July 2021. Retrieved 20 January 2023.
  6. ^ Sadiq, Mobola (18 July 2021). "Covenant I made with God at age 40 — Folorunsho Alakija". Punch Newspapers. Retrieved 10 February 2024.
  7. ^ "Business – Alakija". Archived from the original on 27 April 2021. Retrieved 31 August 2023.
  8. ^ "Folorunsho Alakija Biography - Biopreneur Nigeria". Retrieved 31 August 2023.
  9. ^ Folorunsho, Alakija. "Success in the Fashion World". folorunshoalakija. Folorunsho Alakija. Archived from the original on 27 April 2021. Retrieved 27 April 2021.
  10. ^ Falode, Kehinde (17 September 2011). "Fashion icon, Folorunso Alakija at 62". The Nation. Retrieved 20 June 2013.[permanent dead link]
  11. ^ "Folorunsho Alakija". Forbes. November 2012. Retrieved 19 December 2012.
  12. ^ Wilson, Julee (5 December 2012). "Richest Black Woman in the World, Folorunso Alakija, Was A Major Fashion Designer in Africa". The Huffington Post.
  13. ^ Gabriel, Gift (24 June 2012). "I moved out of the crowd to get it right – Mrs Alakija". Sunday Tribune. Nigeria.
  14. ^ "The Richest Black Woman in the World, Folorunsho Alakija". Ventures Africa. Lagos. 29 November 2012. Archived from the original on 16 April 2015. Retrieved 25 July 2013.
  15. ^ "Folorunso Alakija richest black woman on earth". PM News. 25 December 2012.
  16. ^ "Agbami Oilfield, Nigeria". offshore technology.com. Nigeria.
  17. ^ "How Africa's second richest woman gained her fortune - CNBC Africa". CNBC Africa. 17 September 2016. Archived from the original on 4 August 2018. Retrieved 3 August 2018.
  18. ^ "5 Lessons Folorunsho Alakija Could Teach Christian Entrepreneurs - Tithehacker.org". Tithehacker.org. 29 July 2018. Archived from the original on 4 August 2018. Retrieved 3 August 2018.
  19. ^ Sotubo, Jola (27 May 2015). "Nigerians make Forbes' most powerful women list". Forbes. Retrieved 28 May 2015.
  20. ^ "The World's 100 Most Powerful Women". Forbes. Retrieved 26 June 2014.
  21. ^ Folorunsho, Alakija. "Folorunsho Alakija Foundation". folorunshoalakija. Folorunsho Alakija. Retrieved 27 April 2021.
  22. ^ Ellis, Jessica (16 February 2012). "Nigerian billionaire takes on cause of 'mistreated widows'". CNN.
  23. ^ Amos, Adaeze (26 May 2013). "My passion for widows and orphans –Folorunso Alakija". National Mirror. Nigeria.
  24. ^ Nsehe, Mfonobong. "Nigeria's Richest Woman Folorunsho Alakija Donates Skills Acquisition Center To School". Forbes. Retrieved 27 July 2020.
  25. ^ Allen Lee (9 October 2019). "Meet Folorunso Alakija: The Richest Woman in Africa". Money Inc. Retrieved 31 March 2020.
  26. ^ Sessou, Ebun (9 September 2011). "My life is full of blissful moments – Folorunso Alakija". The Vanguard. Nigeria.
  27. ^ "Folarin Alakija marries Nazanin Jafarian Ghaissarifar in a luxurious $8 million wedding".

External links[edit]

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