Nigerian Billionaire Folorunso Alakija Reportedly Loses Sight
February 27, 2025
Health Concerns Following Air Mishap
Nigerian billionaire and philanthropist Folorunso Alakija has reportedly lost her sight, according to medical sources familiar with her condition.
Sources told SaharaReporters that the 73-year-old founder and Executive Vice Chairman of Famfa Oil began experiencing health complications following a near air mishap. She was traveling with her husband, Modupe Alakija, Chairman of Famfa Oil, when the incident allegedly caused a significant spike in her blood pressure, ultimately impacting her vision.
“She had a near air mishap with her husband on board, and her blood pressure shot up, affecting her eyes,” a source disclosed.
Despite ordering a new private jet to avoid traveling on the same flight as her husband, her vision continued to deteriorate, culminating in total blindness.
Religious Response and Ministry Work
Alakija, a devout Christian, opted to focus on her faith rather than seek conventional medical treatment. She has long been involved in religious activities, founding the Rose of Sharon Glorious Ministry International in the early 2000s. On her 69th birthday, she was ordained as an Apostle.
Wealth and Business Ventures
A major stakeholder in Nigeria’s oil sector, Alakija is the founder of Famfa Oil, which holds a significant interest in OML 127, a highly lucrative oil block within the Agbami deepwater oilfield.
According to Forbes, she was estimated to be worth $1 billion as of 2020. In 2015, she ranked as the 87th most powerful woman in the world and was one of only two African women on Forbes’ list of the richest individuals in Africa.
Beyond the oil industry, she oversees multiple business entities, including the Rose of Sharon Group and Dayspring Property Development Company Limited.
Luxury Assets and Aviation Interests
Alakija’s immense wealth is reflected in her lifestyle, particularly in her aviation assets. One of her private jets, a Bombardier Global Express XRS (model BD-700-1A10), was registered under Wings of Grace Limited in 2011, with the tail number VP-CEO.
Flight records indicate that the aircraft departed Lagos on February 26 for an undisclosed location. She also owns a Bombardier Global Express 6000, a long-range private jet registered as VP-CTO, which left Lagos for London on February 24.
Connection to Babangida and Oil Acquisition
Alakija’s business journey is intertwined with Nigeria’s political elite. Her first venture, Supreme Stitches, was a luxury fashion brand that attracted high-profile clients, including Maryam Babangida, the late wife of former military leader Ibrahim Babangida.
In 1993, she secured an Oil Prospecting Licence (OPL) under the Babangida regime, a move widely attributed to her close relationship with the First Lady. Initially deemed high-risk, the oil block later proved to be a major asset after a partnership with Texaco (now Chevron) uncovered significant reserves, propelling Alakija to billionaire status.
Despite a government attempt to reclaim the oil block in 2000, she successfully fought a legal battle, and in 2008, Nigeria’s Supreme Court reaffirmed her 60% stake in the venture.
Presence at Babangida’s Book Launch
On February 20, 2025, Alakija attended the launch of Ibrahim Babangida’s book, A Journey in Service, held at the Transcorp Hilton Hotel in Abuja. The event also served as a fundraiser for the IBB Presidential Library.
Among the distinguished attendees were President Bola Tinubu, former Nigerian leaders Olusegun Obasanjo, Goodluck Jonathan, Yakubu Gowon, and Abdulsalami Abubakar, alongside former Vice Presidents Atiku Abubakar, Namadi Sambo, and Yemi Osinbajo. Leading business figures, including Aliko Dangote and Abdulsamad Rabiu, made substantial donations, with Dangote pledging N8 billion and Rabiu contributing N5 billion.
Speculation on Marital Status
Reports have circulated since March 2024 suggesting that Alakija and her husband, Modupe Alakija, may have separated after more than 30 years of marriage. While sources indicate that the couple has been living apart due to personal differences, there has been no official confirmation from the Alakija family regarding their marital status.
Folorunso Alakija remains one of Nigeria’s most influential business figures, with a legacy spanning the oil, fashion, and philanthropic sectors. As reports of her health struggles emerge, the public awaits further details on her condition and future engagements.
