Nigerian Female Billionaire Defeats Oprah Winfrey To Become Richest Black Woman In The World

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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.

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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.’

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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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31 COMMENTS

  1. Madam alakija started stealing in the bank first nefore her major break through,perharps she’s among those that started corruption in our country.

  2. Congrats to you mam, all I need is just £50,000 to break through, if you can do that for me ma, I will surely appreciate. Thanks

  3. My major problem with man is we don’t bother to know or trace the source of peoples wealth, all we care about is he/she is rich. With inclusion of name like IBB it’s clear that this woman is enjoying stollen money. May God help Nigeria & Nigerians. Needless to add here though, Dangote’s money is Fed govt money take it or leave.

  4. We are proud of you Ma’am and we pray that God bless all Nigerians just like the way u are blessed with all dis fortune

  5. S̶̲̥̅Ơ̴̴̴̴̴̴͡ proud of Ÿ̲̣̣̣̥ø̲̣̣̥u̶̲̅ ma’am.May I ask Ÿ̲̣̣̣̥ø̲̣̣̥u̶̲̅ 2invest in my education.Can Ÿ̲̣̣̣̥ø̲̣̣̥u̶̲̅ sponsor M̶̲̅ε̲̣̣ abroad 2study,promise 2 pay Ÿ̲̣̣̣̥ø̲̣̣̥u̶̲̅ back.08149721255,paulchibogu@gmail.com

  6. It is absurd for anyone to compare Ophrah Winfrey with Nigeria criminal Alakija. Any Nigerian who became the richest men or the Richest women in the world are nothing but acquired their wealth through corruption and embezzlement. It did not suprise me when later she left a banking business to face oil. The moment she involved herself in oil pushing, that is when she became the greatest thief on earth. I would hate anyone comparing Opgrah Winfrey with a thief. This woman plus all other Nigerians who are pushing our crude oil are the biggest thief on earth. Ophrah Winfrey earned her money through genuine effort not through stealing. I do not care how much Alakija made from stealing Nigerian wealth but she cannot be compared with Ophrah Winfrey. I do not compare a thief with real genuine human being.

  7. ma i pray to God almighty that you will not end as a billionier but a trillionier in the mighty name of JESUS/ALLAH and you shall increase in all aspect of your life. Just continue being good regardless of the nigerians critism and metallity.

  8. If world announce u as d best africa women richest doesn’t av meaning but what u use your money for is most important to d world. Many pple complain hungry, thirsty and lack of good health, if u assist dem with your money i believe they wouldn’t 4get u. They will pray 4 u and your name is not 4getable by d pple. To announce what u worth is nothing just numbering, but to assist pple with your wealth is higherly appreciate by pple and by creator who pick u out of uncountable of women.

  9. Waoh! All the ladies, are you still there? There is a difference between to look SEXY and to look GOOD. The average NIGERIA ladies today, want to look sexy instead of thinking about how to have a positive mindset towards life, and become GREAT like this good looking and beautiful ALAKIJA

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