Folorunsho Alakija Net Worth (Updated 2025).

Folorunsho Alakija, a Nigerian business magnate, began her career in the fashion industry in the early 1970s. After obtaining a secretarial course certificate in the United Kingdom, she returned to Nigeria and worked briefly as a secretary. However, her passion for fashion led her to establish her first business, a fashion label named Supreme Stitches, which catered to Nigeria’s elite.

In the late 1980s, Alakija ventured into the oil industry, obtaining an oil prospecting license. This move, though risky, proved to be a turning point in her career. She founded Famfa Oil, a company that became one of Nigeria’s first indigenous, female-owned oil companies. This marked the beginning of her rise to fame and fortune.

**Folorunsho Alakija’s Current Net Worth (as of 2025)**

As of 2025, Folorunsho Alakija’s net worth is estimated to be around $1 billion, making her one of the wealthiest individuals in Africa.

**Career**

Folorunsho Alakija began her career as a secretary in the mid-1970s. She later founded her fashion label, Supreme Stitches, which became a major success in the Nigerian fashion industry. In the 1990s, she ventured into the oil industry, becoming the first female to own an oil prospecting license in Nigeria.

**Other Ventures**

Apart from her fashion and oil businesses, Alakija has also invested in real estate and printing industries. She is the founder of Rose of Sharon Prints & Promotions Limited, a company that specializes in the production of high-quality, affordable stationery.

**Assets**

Alakija’s assets include a 60,000-square-foot penthouse in Lagos, a private jet, and a significant stake in the oil company, Fasheun Oil Ventures Nigeria Limited. She also owns several properties in Nigeria and the United Kingdom.

**Annual Income**

While the exact figure of Alakija’s annual income is not public, it is estimated to be in the tens of millions of dollars, primarily from her oil and fashion businesses. Her diverse investments also contribute significantly to her annual earnings.

Frequently Asked Questions about  Folorunsho Alakija

Frequently Asked Questions about Folorunsho Alakija

1. What is Folorunsho Alakija’s net worth?

Folorunsho Alakija’s net worth is estimated to be around $1 billion.

2. How did Folorunsho Alakija make her fortune?

Alakija made her fortune through her fashion and oil businesses. She started as a fashion designer, creating clothing for the Nigerian elite, and later ventured into the oil industry, becoming a billionaire through her company, Famfa Oil.

3. When was Folorunsho Alakija born?

Alakija was born on October 15, 1951.

4. Where was Folorunsho Alakija born?

Alakija was born in Ikorodu, Lagos State, Nigeria.

5. What is Folorunsho Alakija’s educational background?

Alakija studied at the Muslim High School in Ikorodu, Lagos State, and later attended the Secretarial College,ham, England. She also studied fashion design at the American College in London.

6. Is Folorunsho Alakija married?

Yes, Alakija is married to Modupe Alakija, a former vice-chairman of First Bank of Nigeria. They have four children together.

7. What are some of Folorunsho Alakija’s philanthropic efforts?

Alakija is known for her philanthropic efforts, particularly in the areas of education and health. She has established the Rose of Sharon Foundation, which supports widows and orphans, and has also donated to various causes, including the fight against Ebola in Nigeria.

8. What awards has Folorunsho Alakija received?

Alakija has received numerous awards, including the National Honour of Officer of the Order of the Niger (OON) by the Nigerian government, and the Forbes Woman Africa’s Woman of the Year award in 2016.

9. What is the name of Folorunsho Alakija’s fashion label?

Alakija’s fashion label is called Supreme Stitches.

10. What is the name of Folorunsho Alakija’s oil company?

Alakija’s oil company is called Famfa Oil Limited.