Folorunsho Alakija (born 1951) is a Nigerian billionaire businesswoman, one of the richest women in Africa. She began her career in fashion, founding Supreme Stitches and becoming Nigeria's first female fashion designer to export to international markets. In 1993, Alakija ventured into oil, acquiring an oil prospecting license that became the prolific OML 127. Famfa Oil, her company, struck oil in commercial quantities, making her a billionaire. Beyond business, Alakija is a philanthropist through the Rose of Sharon Foundation, supporting widows, orphans, and education. She has received numerous honors including Commander of the Order of the Niger (CON). Alakija's journey from fashion to oil demonstrates Nigerian women's business acumen and resilience.


PIONEERING BUSINESSWOMAN:
Folorunsho Alakija transitioned from secretarial work to founding Supreme Stitches, a haute-couture fashion house that dressed Nigeria’s elite in the 1980s. Her meticulous designs earned her the National Union of Tailors’ “Best Designer” award, illustrating female entrepreneurship at a time when the sector was male dominated.

OIL AND GAS INNOVATOR:
In 1993 she secured the OPL 216 oil prospecting license, later renamed OML 127, through Famfa Oil. The partnership with Chevron produced the prolific Agbami deep offshore field, propelling her into the ranks of global energy leaders and demonstrating that Nigerian firms could manage complex upstream projects.

FAITH-DRIVEN PHILANTHROPY:
Through the Rose of Sharon Foundation she supports widows, orphans, and scholarships for over 1,000 students across Nigeria. Alakija sponsors skill-acquisition centres, medical outreaches, and housing projects, embedding mentorship and entrepreneurship training into every programme.

ADVOCATE FOR WOMEN IN BUSINESS:
She speaks at global forums—UN Women events, Harvard Business School sessions, and the Forbes Women’s Summit—encouraging African women to pursue leadership. Her books on faith, business ethics, and wealth stewardship inspire disciplined, purpose-driven enterprise.

FAST FACTS:
- Born 15 July 1951 in Ikorodu, Lagos State.
- Positions: Vice Chair of Famfa Oil, Chancellor of Osun State University (2016-2021).
- Honours: Commander of the Order of the Niger (CON), Forbes richest woman in Africa (multiple years).
- Signature initiative: Rose of Sharon Foundation empowerment loans and education scholarships.