Here is a quick nick on Folorunsho Alakija biography.
Folorunsho Alakija, often referred to as “Apostle Folorunsho,” is a prominent Nigerian businesswoman and philanthropist.
She is renowned for her significant contributions to various industries, including fashion, oil, real estate, and printing.
Born on July 15, 1951, in Ikorodu, Lagos State, Nigeria. She has established herself as one of Africa’s most influential and wealthiest women.
Folorunsho Alakija Biography Summary
| Attribute | Details |
|---|---|
| Full Name | Folorunsho Alakija |
| Nickname | Apostle Folorunsho |
| Date of Birth | July 15, 1951 |
| Place of Birth | Ikorodu, Lagos State, Nigeria |
| Nationality | Nigerian |
| Occupation | Businesswoman, Philanthropist |
| Marital Status | Married to Modupe Alakija (since 1976) |
| Children | Four sons |
| Net Worth | Approximately $1.1 billion (as of 2024) |
Folorunsho Alakija Early Life and Education
Folorunsho Alakija was born into a large family in Ikorodu, Lagos State, Nigeria. Her father, Chief L.A. Ogbara, was a prominent community leader and businessman who had eight wives and 52 children.
Folorunsho was the second surviving child of her father’s first wife.
This provides her with a unique upbringing within a close-knit yet extensive family.
At the age of seven, Alakija and her younger sister were sent to the United Kingdom to begin their formal education.
This marks the start of her exposure to diverse cultures and international perspectives.
She attended Dinorben School for Girls in Northern Wales, where she demonstrated a strong work ethic and an early sense of independence.
Her formative years in the UK instilled discipline and a cosmopolitan outlook that would later influence her career choices.
After completing her primary education, Alakija returned to Nigeria and enrolled at Muslim High School in Sagamu, Ogun State, where she continued to excel academically.
She displayed a keen interest in both academics and extracurricular activities. Building the foundational skills that would serve her in future endeavors.
Recognizing the importance of professional training, Alakija pursued secretarial studies at Pitman’s Central College in London.
This is a decision that positioned her for entry into the corporate world.
Her educational journey did not stop there. She also studied fashion design at the American College and the Central School of Fashion, both in London.
This dual focus on business and creativity would later underpin her success in multiple industries.
Her time abroad not only equipped her with technical skills but also broadened her worldview, preparing her for the challenges of a competitive global business environment.
Alakija’s educational background reflects a blend of practical expertise and creative flair, laying the groundwork for her remarkable career trajectory.
Folorunsho Alakija Career
Alakija’s professional journey began in 1974 when she joined Sijuade Enterprises in Lagos as an executive secretary.
She later moved to the former First National Bank of Chicago, serving as the Executive Secretary to the Managing Director.
However, her career progressed as she became the Head of the Corporate Affairs Department at the International Merchant Bank of Nigeria and subsequently an Office Assistant in the Treasury Department.
Transitioning into the fashion industry, Alakija established her own label, Supreme Stitches, which was later renamed The Rose of Sharon House of Fashion. Her success in fashion led to her appointment as the President and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).
In 1993, Alakija ventured into the oil industry by applying for an oil prospecting license (OPL).
Her company, Famfa Limited, was granted the license to explore a 617,000-acre block in the Agbami Field.
Entering a joint venture with Star Deep Water Petroleum Limited, she navigated complex negotiations with the Nigerian government to retain significant ownership of the oil block, which substantially increased her wealth.
Folorunsho Alakija Net Worth
As of 2024, Folorunsho Alakija’s net worth is estimated at approximately $1.1 billion, primarily derived from her investments in the oil sector through Famfa Oil Limited. Her diversified business interests and strategic investments have solidified her status as one of Africa’s wealthiest individuals.
Folorunsho Alakija Philanthropy and Personal Life
Beyond her business endeavors, Alakija is deeply involved in philanthropy. She founded the Rose of Sharon Foundation, which provides support to widows and orphans through scholarships and business grants. Additionally, she has made significant contributions to educational institutions, including the donation of a skills acquisition center to Yaba College of Technology in Lagos.
In her personal life, Alakija married Modupe Alakija in 1976, and together they have four sons. The family resides in Lagos, Nigeria.
In recent times, there have been rumors regarding the state of her marriage, with reports suggesting a separation after 47 years. However, these reports remain unconfirmed, and Alakija has not publicly addressed the speculations.
Folorunsho Alakija Recent Developments
In 2024, Alakija continued her philanthropic efforts and public engagements. She actively participated in the Annual National Crusade, sharing messages of faith and empowerment. Her commitment to social causes and economic development remains unwavering, as she advocates for sustainable practices and support for small and medium-sized enterprises in Nigeria.
Frequently Asked Questions (FAQs)
What is Folorunsho Alakija’s current net worth?
As of 2024, her net worth is estimated at approximately $1.1 billion.
What industries is Folorunsho Alakija involved in?
She has business interests in fashion, oil, real estate, and printing.
Is Folorunsho Alakija married?
Yes, she has been married to Modupe Alakija since 1976. Recent reports suggest a possible separation, but these remain unconfirmed.
Does Folorunsho Alakija have children?
Yes, she has four sons.
What philanthropic initiatives is she known for?
She founded the Rose of Sharon Foundation, supporting widows and orphans, and has donated to educational institutions like Yaba College of Technology.
Has Folorunsho Alakija received any honorary degrees?
Yes, she has received honorary doctorate degrees from institutions such as Benson Idahosa University and Chrisland University.
What recent public engagements has she participated in?
In 2024, she participated in the Annual National Crusade, delivering messages on faith and empowerment.
What challenges has she faced in her career?
Alakija faced significant challenges in securing her oil prospecting license and negotiating with the Nigerian government to retain ownership of the oil block. Her perseverance and strategic decisions helped overcome these obstacles.
What is the Rose of Sharon Foundation?
The Rose of Sharon Foundation is a non-profit organization established by Folorunsho Alakija to support widows and orphans through scholarships, business grants, and skill acquisition programs.
Does Folorunsho Alakija have any books or publications?
Yes, she has authored several books, including “Alone with God” and “University of Marriage,” which provide insights into her faith and life experiences.
What are her contributions to the fashion industry?
Alakija’s fashion label, The Rose of Sharon House of Fashion, gained significant recognition, and she served as the President of the Fashion Designers Association of Nigeria (FADAN), promoting Nigerian fashion designers globally.
What is her advice to aspiring entrepreneurs?
Alakija often emphasizes the importance of faith, hard work, and resilience. She advises aspiring entrepreneurs to identify their passion, remain committed, and seek God’s guidance in their endeavors.
