Nigerian Entrepreneurs

Full Name: Folorunsho Alakija
Date of Birth: July 15th, 1951.
Place of Birth: Ikorodu, Lagos State.
Net Worth: $2.7 Billion
Nationality: Nigerian
Source Of Wealth: Oil, Self Made.
Marrital Status: Married.
Education: Secretarial studies at Pitman’s Central College, London.
Residence: Lagos, Nigeria
Children: 4


EARLY LIFE

Mrs. Alakija was born in 1951 into a large family – her dad had 8 wives and 52 children in his lifetime and she was the second surviving child as her mom was the first wife. Quoting her, “I had a very happy childhood and enjoyed my upbringing, was taught etiquette and how to sit at the table”

EDUCATION AND BUSINESS

At age seven, Alakija 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.

Her mother used to be a fabric merchant. It was with her she got her firsthand knowledge of the fashion industry. She left the corporate world in the early 80’s (1984) to the UK to study fashion designing and returned in 1985, a year after her training, to start her fashion house – Supreme Stitches which she started at a 3-Bedroom apartment in Surulere, Lagos. A year after establishing the company, she emerged as the best Designer in the country in 1986.

Supreme Stitches has a big clients such as former first lady Maryam Babandiga, her company quickly rose to prominence among Nigeria’s high society. Her closeness with Babandiga proved even more valuable when the Ministry of Energy approved her oil prospecting license in 1993, granting her a lucrative block in Nigeria’s coastal waters. Famfa Oil, which she controls, now holds a 60% stake in the oil field.
It pumps about 200,000 barrels a day. In 2008, she founded The Rose of Sharon Foundation, which works to help widows and orphans. And in 2013, she was appointed the vice chair of Nigeria’s National Heritage Council and Endowment for the Arts.

Marriage
She got married to a lawyer, Mr. Modupe Alakija in 1976 and between them they have 4 kids, all boys who all schooled abroad and are all engaged one way or the other in the family business.