The story of Folorunso Alakija is one of determination, hard work and bold decisions. She started as a secretary, became a successful fashion designer and later built one of Africa’s biggest business empires.
Today, Alakija is one of the richest women in Africa. Her wealth comes mainly from oil and gas, but she has also invested in fashion, real estate, printing and philanthropy. Her journey shows that success comes through patience, vision and the courage to seize opportunities.
Folorunso Alakija was born on July 15, 1951, into a middle-class Yoruba family in Nigeria. Her father, Chief L.A. Ogbara, had eight wives and 52 children, while her mother was his first wife.
She began her primary education in Wales, United Kingdom, before returning to Nigeria for secondary school. She later went back to London to study secretarial administration and fashion design.
Those early years gave her valuable skills and prepared her for a successful career.
Alakija began working as an executive secretary in Lagos in 1974. She later worked at First National Bank of Chicago and International Merchant Bank of Nigeria.
Although she enjoyed banking, her passion was fashion.
She studied fashion design in London and later launched Supreme Stitches, a luxury fashion brand that became popular among Nigeria’s wealthy families.
The business later became Rose of Sharon House of Fashion, one of the country’s leading fashion brands.
In 1993, Alakija made a bold move into the oil industry.
She applied for an oil prospecting licence through her company, Famfa Limited. The government awarded her a licence to explore a large offshore oil block in the Agbami Field.
Three years later, she partnered with Star Deep Water Petroleum Limited to develop the oil field.
When oil was discovered, the Federal Government sought a larger share of the licence. Alakija challenged the decision in court.
After years of legal battles, the Supreme Court ruled in her favour in 2012. The judgment secured her place among Nigeria’s most successful business leaders.
