About the richest woman in Nigeria

Mrs Folorunsho Alakija is the richest woman in Nigeria and the second richest African woman. 68-year-old Alakija is the Executive Director of FAMFA Oil, a company involved in oil and gas exploration and production. She was into fashion designing, which form part of the source of her wealth. However, the greater bulk of her wealth […]

Mrs Folorunsho Alakija is the richest woman in Nigeria and the second richest African woman.

68-year-old Alakija is the Executive Director of FAMFA Oil, a company involved in oil and gas exploration and production. She was into fashion designing, which form part of the source of her wealth. However, the greater bulk of her wealth actually came from her oil company.

Now, Famfa Oil produces 250,000 barrels of oil per day. Her business partners are Chevron and Petrobras. According to Forbes, Folorunsho Alakija net worth is estimated at 1.6 billion US dollars equivilent to N576 Billion as of the 30th of December 2018, which makes her number 1561 in the Forbes ranking of 2018 billionaires.

Alakija has other assets that have moved her up to that position, like real estate worth more than $100 million and a private jet worth $46 million.

Her foundation, Rose of Sharon Foundation, helps widows and orphans by empowering them through scholarships and business grants.