10 Assets Owned By Nigeria's Richest Woman Folorunso Alakija
- Folorunso Alakija is Nigerias wealthiest woman and one of the richest women of African descent globally, with a successful mix of business ventures.
- Alakija's Famfa Oil, with a major stake in the Agbami Oilfield, is central to Nigeria's energy sector and global oil partnerships.
- Alakijas philanthropy through the Rose of Sharon Foundation and Flourish Africa empowers widows, orphans, and women entrepreneurs across Africa.
Folorunso Alakija stands as one of Africas leading business figures, a woman whose journey from humble beginnings to extraordinary success reshapes the narrative of wealth in Nigeria and beyond. Born in 1951, Alakijas path to prominence began in 1974, when she took on the role of secretary at Sijuwade Group, a conglomerate owned by the late Oba Okunade Sijuwade.
This early chapter gave her a front-row seat to the workings of business, a vantage point that would serve her well as she embarked on her own ventures. Today, Alakija is not only Nigerias wealthiest woman but also one of the richest women of African descent globally, thanks to a strategic mix of business savvy and forward-thinking investments.
At the heart of Alakijas expansive empire is Famfa Oil, where she serves as vice chair. This oil exploration company, known for its work with global giants like Chevron and Petrobras, has become a dominant player in the energy sector. The crown jewel of Alakijas portfolio, Famfa Oil oversees the operations of the Agbami Oilfield, one of Nigerias most lucrative energy assets. Under her leadership, Famfa Oil has not only secured a foothold in the competitive oil and gas industry but has also set a standard for long-term growth and sustainability.
But Alakijas wealth extends far beyond the oil rigs. Long before she became a household name in energy, she made her mark in fashion. In the 1980s, her brand Supreme Stitches gained a loyal following, establishing her as a leader in a new era of African fashion. Her ability to spot emerging trends and seize opportunities allowed her to transition seamlessly from fashion to oil, proving that her success was not a stroke of luck but a result of her keen business instincts.
Her influence also spans into philanthropy, where Alakijas work is changing lives. Through the Rose of Sharon Foundation, she has become a beacon of hope for widows, orphans, and the underprivileged in Nigeria, providing scholarships, grants, and support for small businesses. Additionally, her platform, Flourish Africa , mentors and empowers women entrepreneurs, amplifying her role as a champion for economic independence and growth.