Folorunsho Alakija is the Group Managing Director of The Rose of Sharon Group. The Group consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited and the Executive Vice-Chairman of Famfa Oil Limited.
In 1993, Alakija’s company, Famfa Oil Limited was granted Oil Processing Licence (OPL) to explore for oil on a 617,000-acre block—now referred to as OPL 216. By 1996, she had a Joint Venture Agreement with Star Deep Water Petroleum Limited which appointed Star Deep Water as a technical adviser for the exploration business and re-allotted 40 percent of Famfa Oil Limited to Star Deep Water. When they struck oil, the Nigerian government took over the lion share of the venture. This resulted in litigation that lasted 12 years but Famfa Oil Limited got judgement in its favour.
Sector- Oil Exploration, Fashion and Prints.
Date of Birth- July 15 1951.
Residence- Lagos, Nigeria.
Education- Secretarial studies at Pitman’s Central College, London; Fashion design at the American College, London and the Central School of Fashion.
Our country faces many challenges, but I want to encourage you all not to focus on the issues plaguing us, rather see yourselves as the Change Agents of God that this country so desperately need.
– Folorunso Alakija