- Mother-of-four, Folorunsho Alakija, 62, started her career as a secretary in a bank then studied fashion and launched a label but her big break was oil
- In 1993, her company, Famfa Oil, was awarded an oil prospecting license, which later became OML 127, one of Nigeria's most prolific oil blocks
- The company owns a 60 per cent stake in the block, valued at around $7.3 billion, Ventures Africa reports
- According to Forbes, Oprah Winfrey is worth $2.9 billion
By
Helen Pow
|
Move over Oprah: Nigerian oil tycoon Folorunsho
Alakija, pictured in September, is now the richest black woman in the
world with an estimated fortune of $7.3 billion
Move over Oprah, Nigerian oil
tycoon Folorunsho Alakija is now the richest black woman in the world
with an estimated fortune of $7.3 billion.
Africa
boasts 55 billionaires - far more than previously thought - and they're
worth a staggering $143.88 billion in total, according to pan-African
magazine Ventures Africa.
Starting
her career as a secretary in a bank in the mid 1970s, Alakija, 62, then
studied fashion in London and returned to Nigeria to start a label,
Supreme Stitches. But her biggest break came in oil.
In
1993, her company, Famfa Oil, was awarded an oil prospecting license,
which later became OML 127, one of the country's most prolific oil
blocks, by then-president Ibrahim Babangida.
The
company owned a 60 per cent stake in the block until 2000 when the
Nigerian government unconstitutionally acquired a 50 per cent interest
without duly compensating Alakija or Famda Oil.
In
May 2012, Alakija, a married mother-of-four, challenged the acquisition
and the Nigerian Supreme Court reinstated the 50 per cent stake to her
company.
She also has a charity called the
Rose of Sharon foundation that helps widows and orphans by empowering
them through scholarships and business grants.
Forbes
magazine had estimated Alakija's fortune at $600 million, as of
November 2012, but the magazine's editor-in-chief Uzodinma Iweala said
his researchers were 'closer to the ground.'
Still rich: According to Forbes, Oprah Winfrey, pictured, is worth $2.9 billion
Richest African: The overall richest African is
Nigerian manufacturer Aliko Dangote, pictured, who is worth $20.2
billion. Twenty Nigerians are listed in total
They noted that Brazilian oil
company, Petrobas, was looking to sell its 8 per cent stake in OML 127
for $1.5- $2.5 billion, and extrapolated that if they managed to sell it
for $1 billion, Alakija's 60 per cent stake would be worth at least
$7.3 billion.
Iweala
claims this and other estimates included in the report are actually 'on
the conservative side' and said the magazine expect to unearth more
African billionaires shortly.
The
overall richest African is Nigerian manufacturer Aliko Dangote who is
worth $20.2 billion. Twenty Nigerians are listed in total.
According to Forbes, Oprah Winfrey is worth $2.9 billion.
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