Folorunsho Alakija stands as a leader in Nigeria and Africa. She is a trailblazer in business, moving between fashion, oil, and charity. Her journey shows hard work, clear goals, and a drive to help society. Many find her story inspiring.
Early Life and Education
Folorunsho was born on 15 July 1951 in Ikorodu, Lagos State. Her family is Yoruba, and she grew up in a middle-class home. Her father, Chief L.A. Ogbara, cared for a large family. His values shaped her; he taught her to work hard and reach high. At a young age, she left for the United Kingdom to continue her primary school studies. This move built a global view.
She studied at Dinorben School for Girls in Wales. Then she returned briefly to Nigeria and attended Muslim High School in Sagamu. Later, she went back to the UK for further studies. At Pitman Central College in London, she took secretarial courses. When she discovered her love for fashion, she learned design at the American College and the Central School of Fashion in London.
Career Beginnings: From Banking to Fashion
In 1974, Folorunsho began her career. She worked as an executive secretary in Lagos before joining the First National Bank of Chicago in Nigeria (now FinBank). Her time in the bank taught her much about professionalism. Soon, her heart moved to fashion.
In the late 1970s, she started Supreme Stitches. The fashion label grew into The Rose of Sharon House of Fashion, and the brand soon became well known inside and outside Nigeria. She took on the role of president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN). There, she helped boost Nigerian style and culture.
Transition to the Oil Industry: A Historic Move
In May 1993, Folorunsho applied for an Oil Prospecting License for a large offshore block. 
The block, named OPL 216, is in the Agbami field—one of Nigeria’s richest deepwater fields. Her company, Famfa Limited, earned the license. This step was very important for a woman in a field that is mostly male.
By 1996, she joined with Star Deep Water Petroleum Limited, an affiliate of Texaco, in a joint venture. In this venture, 40% of her share went to her technical partner to help with exploration. Later, the Nigerian government took about a 50% stake. Yet, she and her family kept a large portion. This move raised her profile as one of Africa’s richest women.
Recognition and Influence
Folorunsho’s success is known around the world. Forbes magazine lists her among the 100 most powerful women and calls her the richest African woman, with a net worth of over $2 billion. In 2014, for a short time, she even surpassed Oprah Winfrey as the wealthiest black woman.
In Nigeria, she has received many honorary doctorates. Benson Idahosa University and Chrisland University have honored her for business administration. She also serves as vice-chair of the Nigerian National Heritage Council, where she works to protect Nigeria’s culture.
Philanthropic Contributions
Beyond business, Folorunsho cares deeply for others. Through the Rose of Sharon Foundation, she offers scholarships and grants to widows and orphans. She donated a skills acquisition center to Yaba College of Technology and funds scholarships in medicine and engineering. Her work supports many young people and entrepreneurs. She also champions Nigerian culture and the empowerment of women.
Personal Life
Folorunsho married Modupe Alakija in 1976. The couple has four sons and lives in Lagos. Her family life shows the balance she has reached between work and home.
Conclusion
Folorunsho Alakija rose from a modest start to make her mark in both the fashion and oil sectors. Her journey shows strong will and clear vision. By breaking gender and industry barriers in Nigeria and Africa, she inspires many. Her wealth is only one part of her legacy; her charitable efforts show her commitment to social progress. Many people see her as a true icon in both business and philanthropy.
