Billionaire Folorunso Alakija unveils six books at Lagos thanksgiving marking her 75th birthday

Folorunso Alakija, the Nigerian oil magnate and philanthropist, unveiled six books at a thanksgiving service held at her Ikoyi residence in Lagos to mark her 75th birthday.

The gathering brought together family, friends, associates and public figures. Prayers, hymns and worship formed the core of the programme, with a Bible reading by her grandson. The broadcaster Ayo Mairo-Ese served as master of ceremonies and described Alakija as a woman who is truly an Amazon. The gospel saxophonist Beejay Sax led the praise and worship session.

The six titles centre on marriage, relationships, spiritual growth and Christian values. They are "Still in Love at 80 and Beyond: Navigating the Realities of Marriage", "Love Questions, Honest Answers", "Love With Your Eyes Open", "Breaking News: Back to Sender Prayers, God Said, Who Sent You?", "Marriage Playbook: Gems for Married Couples", and "Two Hearts, One Lifetime". The books were reviewed during the event.

The launch follows a similar exercise at her 70th birthday in 2021, when she presented five titles.

From fashion to an offshore oil block

Alakija was born on July 15, 1951, and began her working life in banking as a secretary at what was then the International Merchant Bank of Nigeria. She left to study fashion in England and returned to found Supreme Stitches, later renamed The Rose of Sharon House of Fashion, dressing Lagos society and the political class, including the wife of former military ruler Ibrahim Babangida.

The decisive move came in 1993, when her company Famfa Oil was awarded oil prospecting licence 216, covering a 617,000-acre block roughly 100 kilometres off the Nigerian coast. The licence was later converted to oil mining lease 127, encompassing the Agbami field, one of the country's largest deepwater discoveries.

Famfa transferred a 40 percent stake to Star Deep Water Petroleum, a Chevron subsidiary, under a joint venture signed in September 1996. After oil was struck, the Nigerian government claimed a 40 percent interest, then a further 10 percent, leaving Alakija's company with a minority position. She contested the acquisition through the courts across 11 years. The Supreme Court ruled in her favour in 2012, restoring the 60 percent holding.

Agbami began producing in 2008. Famfa's partners include Chevron and Petrobras.

A fortune that has moved with oil

Forbes has most recently estimated Alakija's fortune at just above $1 billion, down from about $2.5 billion in 2014, a decline tracking oil price cycles and production profiles at the field. She has for years been described as Nigeria's wealthiest woman and among the richest on the continent.

She is vice chair of Famfa Oil. Her other interests span real estate through Dayspring Property Development, printing through Digital Reality Prints, and the fashion house she founded.

Alakija married Modupe Alakija, a lawyer and businessman, in 1976. The couple have four sons, several of whom hold positions across the family businesses.

Philanthropy built around widows and young women

Her charitable work runs mainly through the Rose of Sharon Foundation, which provides scholarships and business grants to widows and orphans, and Flourish Africa, which supports women entrepreneurs. She has donated a skills acquisition centre to Yaba College of Technology in Lagos.

Benson Idahosa University in Benin City conferred an honorary doctorate on her in July 2021, and Chrisland University in Abeokuta did the same in November 2022. Forbes ranked her the 96th most powerful woman in the world in 2014.

She has spoken frequently about the religious commitment that shaped her later career, describing an agreement she made after giving her life to Christ that she would serve if blessed. The books unveiled at the Ikoyi service draw on that thread, alongside material on marriage and mentorship.