Folorunsho Alakija: Her entrepreneurial journey to becoming Africa's richest woman
Folorunsho Alakija’s journey is a remarkable story of growth, from her early days as a secretary to becoming Africa’s richest woman and a leading force in oil, fashion, and philanthropy. Her path is marked by resilience and sharp business acumen, shaping a legacy that continues to inspire generations.
Source: UGC
TABLE OF CONTENTS
Key takeaways
- Folorunsho serves as executive vice chair of Famfa Oil Limited and the group managing director at The Rose of Sharon Group.
- She has achieved billionaire status and is consistently ranked among Africa’s richest women by Forbes.
- In the 1990s, Folorunsho secured a profitable oil licence through her company, Famfa Oil Limited.
- Folorunsho founded the Rose of Sharon Foundation on 23 May 2008, as a faith-based NGO.
Profile summary
| Full name | Folorunsho Alakija |
| Gender | Female |
| Date of birth | 15 July 1951 |
| Age | 73 years old (as of June 2025) |
| Zodiac sign | Cancer |
| Place of birth | Ikorodu, Lagos State, Nigeria |
| State of origin | Lagos State |
| Current residence | Lagos, Nigeria |
| Nationality | Nigerian |
| Ethnicity | African |
| Tribe | Yoruba |
| Religion | Christianity |
| Sexuality | Straight |
| Hair colour | Black |
| Eye colour | Dark brown |
| Father | L.A. Ogbara |
| Siblings | 51 |
| Marital status | Married |
| Husband | Modupe Alakija |
| Children | 4 |
| School | Our Ladies of Apostles,Dinorben School for Girls,Muslim High School |
| College | Pitman's Central College,American College in London and the Central School of Fashion |
| Profession | Businesswoman, philanthropist, author, former fashion designer |
| Net worth | $1 billion |
| @alakijaofficial | |
| X | @alakijaofficial |
Folorunsho Alakija's biography
Born in Ikorodu, Lagos State, Folorunsho is the daughter of Chief L.A. Ogbara, who had eight wives and fifty-two children. Her mother was his first wife. Folorunsho's entrepreneurial spirits were inherited from her parents, who were entrepreneurs.
The Nigerian entrepreneur's father was a dynamic businessman involved in textiles, leather sandals, stockfish, and various ventures, including real estate and stocks. Her mother was a fabric merchant who operated textile shops.
Folorunsho Alakija's age is 73 years as of June 2025. She was born on 15 July 1951, and her zodiac sign is Cancer.
Folorunsho Alakija's academic journey
Alakija began her educational journey in 1955 at Our Lady of Apostles Nursery School in Lagos. At the age of seven, she moved to the United Kingdom and attended Dinorben School for Girls at Hafodunos Hall in Llangernyw, Wales, from 1959 to 1963.
Source: Original
Alakija later returned to Nigeria and enrolled at Muslim High School in Sagamu, Ogun State, Nigeria in 1963. After completing high school, she went back to the United Kingdom for secretarial studies at Pitman's Central College in London.
The philanthropist later pursued fashion design at the American College in London and the Central School of Fashion. She also earned a master’s degree in Business Administration from the CWC School for Energy, London, in 2006.
How did Folorunsho Alakija get rich?
According to Celebrity Net Worth, Forbes, and Pulse Nigeria, Folorunsho Alakija's net worth is allegedly $1 billion.
Folorunsho Alakija built her wealth through strategic entrepreneurship, bold investments, and relentless legal determination—primarily in Nigeria’s oil sector. According to her LinkedIn profile, she began her career in 1973 as an executive secretary at Sijuade Enterprises, based in Lagos.
After working for a year at Sijuade Enterprises, Folorunsho left to become an executive secretary at International Merchant Bank (Nig.) Ltd., where she worked from 1974 to 1985. She later served as managing director of Supreme Stitches for sixteen years, from 1986 to 2002.
Source: Getty Images
Since September 1991, the entrepreneur has served as the Executive Vice Chairman of Famfa Oil Limited, based in Lagos, Nigeria. She has also been a Life Trustee of FADAN since 2001 and the Group Managing Director of the Rose of Sharon Group since 2002.
In 2004, the Nigerian philanthropist took on the role of Vice Chairman at Dayspring Property Development Company. She also became the Managing Director of Digitalreality Print Limited in 2006.
As a philanthropist, Alakija founded the Rose of Sharon Foundation, an NGO dedicated to improving the lives of widows and orphans, in May 2008. Additionally, in August 2016, she launched Flourish Africa—an online community where young women uplift and inspire one another.
Folorunsho is also an author. She has written several books, such as Alone With God, University of Marriage, and The Cry of Widows and Orphans. Alakija became the first female chancellor of a public university in Nigeria and Sub-Saharan Africa when she was appointed Chancellor of Osun State University in 2016.
Inside Folorunsho Alakija's house
Source: Getty Images
The entrepreneur owns a mansion reportedly valued at $700 million, making it one of the most expensive residential homes in Nigeria. Featuring around 400 rooms, the home is located in Ikoyi, Lagos. It was built by the German firm Julius Berger and designed by Adeniyi Coker Consultants Limited.
The mansion features a movie theatre, game room, private bar, gym, multiple dining halls, and spacious lounges, along with beautifully maintained lawns, vibrant gardens, and an elegant outdoor pool area. It features advanced, bulletproof security and a windowless design to prevent intrusions.
What happened to Folorunsho Alakija?
In late February 2025, rumours circulated that Folorunsho Alakija had lost her eyesight after a near-air-travel incident reportedly triggered by a sudden spike in blood pressure. Her absence from public and social media appearances in the following weeks fuelled speculation among the media and her followers.
However, on 8 March 2025, during International Women's Day, the entrepreneur broke her silence via her Instagram page. Although she didn't comment on her health, she shared an empowering message for women. To date, neither Alakija nor any official source has confirmed these claims.
Who is Folorunsho Alakija's husband?
Source: Instagram
Folorunsho is married to Modupe Alakija, a Nigerian lawyer and businessman. Folorunsho and Modupe first met at a party in Surulere. They were in a relationship for three and a half years before getting married on 12 November 1976.
In 2016, during an interview with The Guardian, Folorunsho spoke highly of her husband. She said:
He is like a harmless tiger- strong and proud- but with a big soft heart, or better still, a heart of gold. I knew that my tiger would always fulfill his God-given role as head of the family as best he can.
The couple has four sons: Folarini, Rotimi, Dele, and Ladi.
FAQs
- Who is Folorunsho Alakija? She is a Nigerian philanthropist, businesswoman, author, and former fashion designer.
- How old is Folorunsho Alakija? She is 73 years old as of June 2025.
- What is Folorunsho Alakija's state of origin? Her state of origin is Lagos State.
- Is Folorunsho Alakija blind? There were rumours in February 2025 that she had lost her sight. However, she hasn't confirmed nor denied the speculations.
- Does Folorunsho Alakija have children? She has four sons: Folarini, Rotimi, Dele, and Ladi.
- Is Folorunsho Alakija married? The Nigerian philanthropist is married to Modupe Alakija.
- What is Folorunsho Alakija's net worth? Her net worth is allegedly $1 billion.
Folorunsho Alakija is an entrepreneur, author, philanthropist, and former fashion designer. With resilience, faith, and strategy, she has made a lasting impact in fashion, oil, and philanthropy. Folorunsho is the vice chair of Famfa Oil and is the founder of the Rose of Sharon Foundation.
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Proofreading by Kola Muhammed, copy editor at Legit.ng.
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