Folorunsho Alakija

This woman owns 60% of one of Nigeria’s most valuable oil fields… and uses the money to fund widows, orphans, and teaching hospitals.

In the 1970s, Folorunso Alakija was working as a secretary in a Lagos bank.

She pivoted to fashion in the ‘80s.

Went to London. Studied design. Came back and launched Supreme Stitches.

A luxury label that dressed Nigeria’s elite, including First Lady Maryam Babangida.

By the 90s, her name was everywhere.

But she wanted more.

So in 1993, she applied for an oil prospecting license.

Not just any block. 617,000 acres offshore in the Agbami Field.

She had no experience and no corporate backing.

But she still got the license.

Then came Chevron. She brought them in as technical partners.

Then came oil.

And then came the government.

They tried to grab 50% of her stake.

She fought back in court. For 12 years.

And won.

That one decision, to go after an oil block, put her on the global billionaire list.

Famfa Oil now earns massive royalties without even operating the field.

Alakija also built out the Rose of Sharon Group: real estate, printing, fashion.

Launched Digital Reality Print Ltd.

And then she started giving it all away.

In 2008, she founded Rose of Sharon Foundation to support widows and orphans.

Since then: 4,000+ widows trained and funded, 1,900+ scholarships for children, and free housing, healthcare, and legal aid across Nigeria.

In 2025, she donated a ₦70 billion medical and research hospital to Osun State University ($48M).

She also launched WELI (Women in Energy and Leadership Initiative) to bring more African women into oil and gas.

And no, she never went to university.