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| Mrs. Folorunsho Alakija |
Sixty-nine-year-old, Nigerian oil magnate,
Folorunsho Alakija, has emerged the wealthiest black woman on earth and
nineteenth richest African in 2019 according to Forbes.
According to Forbes, Alakija’s fortune has been estimated at
$1 billion, as of today, January 13, 2020.
It is pertinent to note that Folorunsho Alakija started her
career as a secretary in a bank in the mid-1970s, after which she studied fashion
in London and then returned to Nigeria to start a label, Supreme Stitches.
Her biggest break, however, came in oil.
In 1993, her company, Famfa Oil, was awarded an oil
prospecting license, which later became OML 127, one of the country’s most
prolific oil blocks, by then-president Ibrahim Babangida.
The company owned a 60 percent stake in the block until 2000
when the Nigerian government unconstitutionally acquired a 50 percent interest
without duly compensating Alakija or Famda Oil.
In May 2012, Alakija, a married mother-of-four, challenged
the acquisition and the Nigerian Supreme Court reinstated the 50 percent stake
to her company. She also has a charity called the Rose of Sharon Foundation
that helps widows and orphans by empowering them through scholarships and
business grants.
Folorunsho Alakija, has emerged the wealthiest black woman on earth and
nineteenth richest African in 2019 according to Forbes.
According to Forbes, Alakija’s fortune has been estimated at
$1 billion, as of today, January 13, 2020.
It is pertinent to note that Folorunsho Alakija started her
career as a secretary in a bank in the mid-1970s, after which she studied fashion
in London and then returned to Nigeria to start a label, Supreme Stitches.
Her biggest break, however, came in oil.
In 1993, her company, Famfa Oil, was awarded an oil
prospecting license, which later became OML 127, one of the country’s most
prolific oil blocks, by then-president Ibrahim Babangida.
The company owned a 60 percent stake in the block until 2000
when the Nigerian government unconstitutionally acquired a 50 percent interest
without duly compensating Alakija or Famda Oil.
In May 2012, Alakija, a married mother-of-four, challenged
the acquisition and the Nigerian Supreme Court reinstated the 50 percent stake
to her company. She also has a charity called the Rose of Sharon Foundation
that helps widows and orphans by empowering them through scholarships and
business grants.
She is the group managing director of The Rose
of Sharon Group which consists of The Rose of Sharon Prints & Promotions
Limited, Digital Reality Prints Limited and the executive vice-chairman of
Famfa Oil Limited.
of Sharon Group which consists of The Rose of Sharon Prints & Promotions
Limited, Digital Reality Prints Limited and the executive vice-chairman of
Famfa Oil Limited.
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call us via 08030808671,
07038864995.
