BizWoman: 10 Things To Know About Folorunsho Alakija

Folorunsho Alakija is one of Nigeria’s prominent and finest women in business. Alakija over the years has made a name for herself not just in Nigeria but all over the world. She is a force to be reckoned with. BizWaatch Nigeria applauds all women in the various business sectors.

Here are 10 things to know about Alakija


Folorunsho Alakija recently celebrated 70 years of good health. She was born on July 15, 1951.


Alakija grew up in a polygamous home. Her dad had eight wives and 52 children. She went to England at the age of seven with one of my siblings who was six years old. Then returned 4 years later.

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Alakija is vice chair of Famfa Oil, a Nigerian oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset. Alakija’s first company was a fashion label whose customers included the wife of former Nigerian president Ibrahim Babangida. The Nigerian government awarded Alakija’s company an oil prospecting license in 1993, which was later converted to an oil mining lease.


Folorunsho Alakija was listed as the 96th most powerful woman in the world by Forbes in 2014. In May 2015, Alakija was listed among the world’s 100 most powerful women according to Forbes. Alakija was 86th on the list.

Alakija is number 20 in 2020 Africa’s Billionaires list Dropped off in 2021. On the 17th of July 2021, Benson Idahosa University, Benin City gave her an honorary Doctorate Degree in Business Administration. This was in recognition of her contribution to the business world.

Flourish Africa

Alakija founded Flourish Africa. Flourish Africa is the women empowerment movement to serve as a catalyst for female empowerment and development.

The Rose of Sharon Foundation

The Rose of Sharon Foundation is an NGO focused on alleviating the plight of widows and orphans. They design and execute programmes that give financial independence and educational opportunities to widows, their children and orphans. The journey began on the 23rd of May 2008.


Folorunsho Alakija in November 1976, married a lawyer, Modupe Alakija of the Adeyemo Alakija family. They reside in Lagos, Nigeria, with their four sons and their grandchildren.


Alakija is an acclaimed public speaker and the first female to be appointed as Chancellor of a public university in Africa. She is a Fellow of Yaba College of Technology and holds six Honorary Doctorate Degrees.


She is an alumnus of the Lagos Business School, a Member, Commonwealth Enterprise & Investment Council Advisory Board and Member, Advisory Board, Harvard University Centre for African Studies.

She has served the nation as a member in four different committees and as the Vice Chairman of the National Heritage Council and Endowments for Arts. She also serves as the Chief Executive Matron of the African Young Entrepreneurs, an Ambassador of the Junior Chambers International and matron of several other organizations.


Alakija is a religious woman, she is a Christian and has imbibed Godliness into her business and daily activities. She revealed that during the period she sought the face of the Lord and said, “Listen, this isn’t working. I know there is a God and I can find Him.” That was when I made a covenant with God and said, “God, if you would bless me. I would work for you all the days of my life.”

About Author

Aina Adepeju is a Mass Communication graduate. She loves photography, she is a Member of the Nigerian Institute of Public Relations (NIPR) and Advertising Practitioners Council of Nigeria (APCON). Adepeju can be reached via [email protected]

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