Chief Folorunso Alakija is a renowned Nigerian entrepreneur, investor, and philanthropist born on July 15, 1951, in Ikorodu, Lagos State. She is the Group Managing Director of The Rose of Sharon Group and serves as the Executive Vice Chairman of Famfa Oil Limited. Over the years, she has built a reputation as one of Africa’s most influential business leaders, with vast interests spanning fashion, oil and gas, real estate, and philanthropy.
Folorunsho Alakija Profile
| Name | Chief Folorunso Alakija |
| Real Name | Folorunso Alakija |
| Date of Birth | 15 July 1951 |
| Age | 74 years |
| State of Origin | Lagos State |
| Tribe | Yoruba |
| Nationality | Nigerian |
| Occupation | Businesswoman |
| Religion | Christianity |
| Marital Status | Married |
| Net Worth | $1 Billion |
| Copied from | contents101.com |
Educational Background
Folorunso Alakija hails from a large family. She began her early education in Nigeria before traveling to the United Kingdom at the age of ten for further studies. Upon her return, she attended Muslim High School in Shagamu, Ogun State. She later pursued secretarial studies at Pitman’s Central College in London. Her passion for fashion led her to further her education at the American College in London and the Central School of Fashion.
Career
Alakija’s professional journey began in the banking sector in 1974 when she worked as an executive secretary at Sijuade Enterprises. She later joined the First National Bank of Chicago (now part of First City Monument Bank) as an executive secretary to the managing director. Over the years, she climbed the corporate ladder, serving in different capacities, including Head of the Corporate Affairs Department at International Merchant Bank of Nigeria and an office assistant in the Treasury Department.
After a decade in banking, she transitioned into fashion, establishing Supreme Stitches, which later became The Rose of Sharon House of Fashion. Her designs gained widespread recognition, earning her a leadership role as the president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN).
Her most significant business breakthrough came in 1993 when she secured an oil prospecting license (OPL) for a 617,000-acre oil block in Nigeria’s deep offshore Agbami Field through her company, Famfa Oil. In 1996, she entered a partnership with Star Deep Water Petroleum Limited, ceding 40% of the oil block’s ownership. The Nigerian government later took an additional 40% stake, leading to a legal battle that Alakija successfully contested, restoring her company’s shareholding.
Beyond oil and gas, she has investments in real estate through Dayspring Property Development Company Limited and plays a significant role in the Rose of Sharon Group, which comprises multiple businesses and philanthropic initiatives.
Alakija is well-known for her charitable efforts through the Rose of Sharon Foundation, which provides scholarships and financial aid to widows and orphans. Her foundation has empowered countless individuals through education, skills training, and business grants. She is also a prominent Christian leader and the founder of Rose of Sharon Glorious Ministry International, where she actively promotes faith-based community development.
Controversies
Alakija has faced several controversies over the years, particularly regarding the allocation of her oil block. Critics have linked her acquisition of the oil prospecting license to her close ties with Maryam Babangida, the late wife of former Nigerian military ruler Ibrahim Babangida, under whose regime the license was granted. Despite these claims, she has maintained that her success is a result of diligence, strategic partnerships, and divine favor.
Another controversy emerged regarding her health. Reports surfaced that she suffered from a deteriorating eyesight condition, allegedly triggered by a near-air mishap that affected her blood pressure. Despite seeking medical and spiritual solutions, it was reported that her condition worsened, leading to complete vision loss.
Furthermore, speculation about her marital status has also made headlines, with unconfirmed reports suggesting that she and her husband, Modupe Alakija, have been living separately since 2024 due to personal differences. However, no official statement has been released by the family.
Folorunso Alakija Social Media Handle
https://www.instagram.com/alakijaofficial/?hl=en
Personal Life
Chief Alakija has been married to Modupe Alakija since 1976, and they have four sons. The family resides in Lagos, Nigeria. Her son, Folarin Alakija, gained public attention in 2017 when he married Iranian model Nazanin Jafarian Ghaissarifar in a lavish wedding ceremony in the United Kingdom.
As a deeply religious woman, Alakija is actively involved in Christian ministry. She founded the Rose of Sharon Glorious Ministry International and was ordained as an Apostle on her 69th birthday.
Folorunso Alakija Net Worth
Folorunso Alakija’s net worth is estimated to be around $1 Billion.