xecon.dev / 234 · Nigeria / Xcelerators / Folorunsho Alakija

Xcelerator · Person

Folorunsho Alakija

Famfa Oil

Oil Exploration & Production, Fashion, Philanthropy

Signal

Region
Nigeria
Industry
Oil Exploration & Production, Fashion, Philanthropy
Source file
profiles/nigeria_business_people.md:158
Status
published

Economic impact

Holds a beneficial interest in Oil Mining Lease (OML) 127, through Famfa Oil Limited, a deep-water block in the Gulf of Guinea developed in joint venture with Chevron Nigeria and Star Deep Water Petroleum. The Agbami field within OML 127 achieved peak production of approximately 250,000 barrels per day by 2009, making it one of Nigeria's largest-producing deepwater fields at that time, per Chevron Nigeria published operational data. Prior to her oil-sector entry, she founded Supreme Stitches (later Rose of Sharon House of Fashion) in Lagos in 1986. Established the Rose of Sharon Foundation, which by 2024 supported approximately 10,000 widows and orphans through educational scholarships and vocational training grants, per the foundation's published beneficiary records.

Sources

  1. Wikipedia
  2. Billionaires
  3. Entrepreneurs
Last updated: 5/27/2026 by xecon desk corrections@xecon.dev