By

Folorunso Alakija

Folorunso Alakija (born 15 July 1951) is a Nigerian billionaire businesswoman, one of the richest African women, and one of the richest black women in the world. In 2014, she temporarily unseated Oprah Winfrey as the richest woman of African descent in the world. She is involved in the fashion oil and printing industries. She is the group managing director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited. Alakija is ranked by Forbes as the richest woman in Nigeria with an estimated net worth of $2.1 billion.As of 2015, she is listed as the second most powerful woman in Africa after Ngozi Okonjo-Iweala and the 87th most powerful woman in the world by Forbes

Early life and education
Folorunsho was born in 15 July 1951 to the family of Chief L. A. Ogbara in Ikorodu, Lagos State. At age seven, she travelled to the United Kingdom to begin a four-year primary education at Dinorben School for Girls in Hafodunos Hall in Llangernyw, Wales. After returning to Nigeria, she attended Muslim High School Sagamu Ogun State, Nigeria. Afterwards, she returned abroad for her secretarial studies at Pitman's Central College, London. She also studied fashion design at the American College, London and the Central School of Fashion

Career
Folorunsho started her career in 1974 as an executive secretary at Sijuade Enterprises, Lagos, Nigeria. She moved on to the former First National Bank of Chicago, now FinBank now acquired by FCMB (First City Monument Bank] where she worked for some years before establishing a tailoring company called Supreme Stitches. It rose to prominence and fame within a few years, and as Rose of Sharon House of Fashion, became a household name. As national president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN), she left an indelible mark, promoting Nigerian culture through fashion and style.

In May 1993, Folorunsho applied for the allocation of an oil prospecting license (OPL). The license to explore for oil on a 617,000-acre block—now referred to as OPL 216—was granted to Alakija's company, Famfa Limited. The block is located approximately 220 miles south-east of Lagos and 70 miles offshore of Nigeria in the Agbami Field of the central Niger Delta. In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep.

Once word got out they struck oil the unthinkable happened: the Nigerian government snatched a 40% stake! Later, they took an additional 10%. According to her:

“We felt like it was unfair. We had taken the sole risk and invested everything we had in the business. It had become a family business. We spent six years as a family to ensure this worked out and now that it was bearing fruit, they just stepped in and took away everything we had struggled and worked extremely hard for. I said to myself, ‘Folorunsho Alakija does not give up, my husband does not give up and my children do not give up.’”

She took them to court. For 12 years she fought the government in court. The stakes were high. The government argued if Alakija and family were allowed to keep their bloc they stood to make $10 million a day! Still she persisted and in the end she won.

Recognition
As of 2014, she is listed as the 96th most powerful woman in the world by Forbes. In May 2015 two Nigerian women, Finance Minister Ngozi Okonjo-Iweala and Alakija were listed among the world's 100 most powerful women according to Forbes. Alakija was 87th on the list.

Philanthropic interest
Folorunsho has a foundation called the Rose of Sharon Foundation that helps widows and orphans by empowering them through scholarships and business grants.Her company is also a major sponsor of the Agbami medical and engineering scholarship scheme, one of the most reliable scholarship scheme in Nigeria with over a thousand people yearly as beneficiaries.Mrs Alakija is a fervent supporter of education in Nigeria; for example in 2014 she donated a substantial amount of money to Ibrahim Badamasi Babangida University Lapai, the Niger State University. The money was used to complete the construction of a 350 Seat Lecture Theater, which was named after her.

On 1 July 2013, the federal government of Nigeria inaugurated the National Heritage Council and Endowment for the Arts and appointed Alakija as vice-chairman of the body. While inaugurating the council, Nigeria's Minister of Tourism, Culture and National Orientation, Edem Duke, said Nigeria had identified 100 new heritage sites, which "are unique and uncommon assets that we intend to preserve and promote." He charged the council, which is headed by Igho Sanomi, to "ensure the protection and conservation of places and objects of heritage significance and the registration of such places and objects."

She serves as the Chief Matron of Africa's Young Entrepreneurs.

Personal life
Folorunsho married a lawyer, Modupe Alakija in November 1976. The couple reside in Lagos, Nigeria with their four sons and grandchildren. Her nephew is the Nigerian, DJ Xclusive.

source:https://samueljackson12.blogspot.com/2019/01/folorunso-alakija-folorunso-alakija.html

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige...
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission ...
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind thi...
Read more