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Folorunsho AlakijaNigerian entrepreneur
Date of Birth: 01.01.1951
Country:  Nigeria |
Content:
- Fola Alakija: A Nigerian Business Icon
- Early Life and Education
- Business Career
- Oil and Gas Exploration
- Philanthropy
- Personal Life
Fola Alakija: A Nigerian Business Icon
Fola Alakija is a renowned Nigerian entrepreneur whose business ventures span the oil, printing, and fashion industries. She is the Group Managing Director of The Rose of Sharon Group, which includes companies like The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited. Alakija also serves as the Executive Vice Chairman of Famfa Oil Limited. Her net worth is estimated to range between $600 million and $3.2 billion.
Early Life and Education
Fola Alakija was born in 1951 in Ikorodu, Lagos State, Nigeria. She received her early education at Hafodunos Hall in Llangernyw, Wales, and later attended Muslim High School Sagamu in Ogun State. Alakija went on to study at Pitman's Central College, London, The American College in London, and the Central School of Fashion, London.
Business Career
Alakija's career began in 1974 when she was employed as an executive secretary at Sijuade Enterprises in Nigeria. She subsequently established her own fashion house, Supreme Stitches. The venture proved successful, and Alakija quickly made a name for herself in the fashion industry. Today, her Rose of Sharon House of Fashion is a household name.
As the National President and Life Trustee of the Fashion Designers Association of Nigeria, Alakija has played a pivotal role in promoting Nigerian culture through fashion.
Oil and Gas Exploration
In May 1993, Fola Alakija was awarded an oil prospecting license (OPL) for a 617,000-acre area (OPL 216) by Famfa Limited. The license block was located approximately 355 km southeast of Lagos and 110 km offshore Nigeria in the central Niger Delta.
In September 1996, Alakija entered into a joint venture agreement with Texaco's subsidiary, Star Deep Water Petroleum Limited. The company was appointed technical adviser for OPL 216. Star Deep later sold an 8% stake in OPL 216 to the Brazilian company Petrobras.
Philanthropy
Outside of her business ventures, Alakija has established the Rose of Sharon Foundation, which provides support to widows and orphans. The foundation offers scholarships and business start-up grants.
Personal Life
Fola Alakija resides in Lagos with her husband, Modupe, and their four children.
