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Monday, March 10, 2014

Meet Nigeria's First Female Billionaire, Folorunsho Alakija

Folorunsho Alakija
Nigeria's first female billionaire, Folorunsho Alakija built her fortune on fashion and oil. She began her career in the 1970s as a secretary in a Nigerian bank before she quit to study fashion design in England. After returning to Nigeria she founded Supreme Stitches, a fashion label that catered to the country's high society women. Her biggest patron was Maryam Babangida, wife to Nigeria's notorious former military president. She reportedly leveraged that relationship to get a lucrative oil prospecting license, which went onto become OML 127. One of Nigeria's most prolific oil blocks, it produces as much as 200,000 barrels per day. Famfa Oil, which Alakija controls, owns a 60% stake in the asset. At 63, Flolrunsho Alakija is happily married and mother of four. Her fortune is estimate at $2.5. She is a model that all African young girls look up to for inspiration.

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