Folorunsho Alakija was born on the 15th of July, 1951 to the family of Chief L.A. Ogbara in Ikorodu, Lagos State and she has 51 siblings. She traveled to the United Kingdom at age seven for her primary school education at Dinorben School for Girls in Harfodunos Hall, Llangernyw, Wales. Afterward, she returned to Nigeria and attended Muslim High School, Sagamu Ogun State. Folorunsho Alakija went back abroad for her secretarial studies at Pitman’s Central College, London.
Due to her interest in fashion, Folorunsho pursued a degree in Fashion Designing at the American College, London, and the Central School of Fashion. The power woman has 8 Honorary Degree Awards from Universities in Nigeria and the United States of America.
Folorunsho Alakija got married to Modupe Alakija, a lawyer in November 1976 and they are blessed with four sons and grandchildren. She lives in Lagos, Nigeria with her family.
Folorunsho Alakija Net Worth
Folorunsho Alakija’s net worth as at 6th August 2018 is estimated at $1.5b according to Forbes
Business Life Of Folorunsho Alakija
She started her career in 1974 at Sijuade Enterprises in Lagos where she worked as an Executive Secretary. Afterward, she worked for a while with First National Bank of Chicago (renamed, FinBank) now acquired by First City Monument Bank (FCMB).
Folorunsho Alakija left the bank to pursue her interest in fashion. Which she uses her money to finance the business, Her fashion design company, Supreme Stitches became a known brand after working hard on the brand. Supreme Stitches was later renamed ‘Rose of Sharon House of Fashion’ which has become a household name that Folorunsho Alakija is associated with today.
Aside from Fashion, Folorunsho Alakija is an amazing leader who served as the National President and lifelong Trustee of the Fashion Designers Association of Nigeria (FADAN). She made an exemplary contribution to the Association.
In May 1993, Folorunsho Alakija delved into Oil and Gas exploitation and exploration. She was granted an Oil Prospecting License (OPL) to start exploring oil on a 617,000-acre block known as OPL 216 located in the Agbami Field of the central Niger Delta.
In September 1996, Folorunsho Alakija went into a joint venture agreement with Star Deep Water Petroleum Limited and she later appointed Star Deep as the technical adviser for the exploration of her license. She transferred 40% of her 100% stake to Star Deep Waters Limited. Star Deep later sold 8% of the 40% shares to Petrobras, a Brazilian company.
Folorunsho Alakija became the Chancellor of Osun State University on 9th March 2016. The record has it that she is the first female chancellor in the history of Nigeria.
Folorunsho Alakija’s Companies
Rose of Sharon Fashion House: The home of classy wears for both genders.
FAMFA Oil Limited
A family Oil & Gas business is formerly known as OPL 216. It was incorporated in September 1991 and is one of the largest indigenous Nigerian owned exporters of crude oil in Nigeria.
Rose of Sharon Prints and Promotions
A monogramming printing outlet. The company prints on ready-made shirts, towels, bedsheets, Uniforms, table cloths, and the like.
Digital Reality Print Limited
Specializes in design and offset printing, large format printing, Industrial/corporate signage and promotional prints.
Dayspring Property Development Company Limited
A real estate company where Folorunsho Alakija operates as the Vice-Chairman.
Folorunsho Alakija Christian Life
Alakija accords all glory to God for all her achievements. She is a devout Christian with an evangelical calling. Since giving her life to Christ in 1991, she preaches the gospel ceaselessly to anyone that cares to listen even in the market place. Also, she and her husband started a house fellowship which is now a ministry; Rose of Sharon Glorious Ministry International.
Folorunsho Alakija Philanthropic Gestures
Folorunsho Alakija gives back to the society through her foundation, the Rose of Sharon Foundation. The foundation empowers widows and orphans through scholarships and business grants.
She is the primary sponsor of the Agbami Medical and Engineering Scholarship Scheme which records over 1000 beneficiaries annually.
In 2014, she donated a huge amount of money towards the completion of a 350 seat lecture theatre building in Ibrahim Babangida University, Lapai, the Niger State University. And, the building was named after her in appreciation of her philanthropic gesture. A hall was named after her at Ajayi Crowther University in Oyo as a reward of her Philanthropic gesture.
She was appointed as the Vice-Chairman of Heritage Council and Endowment for the Arts inaugurated on the 1st of July, 2013. Also, she serves as matron to Africa’s Young Entrepreneurs.
Her House and Cars
10,268 total views, 205 views today
Akano Rafiu is a student that constantly seeking new knowledge. I follow my heart and my intuition and i am growing into the best version of me. A die hard Chelsea fan.