Guest Post: Nigerian Becomes Richest Black Woman in World

Nigeria’s Mrs Alakija Becomes Richest Black Woman in the World, displaces Oprah Winfrey
Guest Post: Alheri from Nigeria 
 

Mrs Folorunsho Alakija was born into a wealthy Nigerian polygamous family in 1951 (she is 61 years old at present). She began her professional career in the mid-1970s, and took up work as a secretary at the International Merchant Bank of Nigeria (now defunct). She later resigned in the early 80’s for Fashion School in England. 

Folorunsho Alakija, richest black woman in the world

Upon her return, she started her own Fashion Label, Supreme Stitches, which catered for exclusive clients only- really exclusive: socialites and wives of extremely wealthy Army Generals, Politicians and business men (wives because it is was very rare, back in the day, to see a Nigerian woman who could boast such wealth and stand on her own feet, i.e., without having a wealthy husband).

Her business grew tremendously and in 1993, she founded and became the CEO of a Nigerian Oil company, Famfa Oil. Famfa produces about 200,000 barrels of oil a day, and she owns 60% working interest.

Although the Forbes Ranking pegs her wealth at about 600 million USD, a more recent report has been published by Ventures Africa, an African News and Business Magazine that she is worth at least 3.3 Billion USD, and is about 500 Million USD richer that Oprah Winfrey. 

Random Alheri Thoughts: It is really impressive to see that African women are on the rise! I am very happy that we have a Nigerian woman who has defied all odds. This gives me hope that indeed, a woman can go whatever she sets her mind! Several people, even women themselves are intimidated by the mere thought of being wealthy and powerful, which causes a huge lack of ambition. Here, we have Mrs. Alakija who ventured into the oil business, without minding that the business was, and still is, a more male dominated area. I am really impressed that she has made such a fortune, and I can only hope that other Nigerian women take after her example in the true spirit of entrepreneurship. I read somewhere that she is also a Philanthropist, which means she is one more source of funding for me when I set out to begin my own project of transforming Africa!