Folorunsho Alakija was born to the family of Chief L. A. Ogbara in 1951 at Ikorodu, Lagos Nigeria. When she was 7 years of age, she traveled out of Nigeria for her four years primary education. She had her primary school education at Dinorben School for Girls in Hafodunos Hall, Wales. And attended Muslim High School in Sagamu, Ogun State, Nigeria. Alakija had a certificate in secretarial studies from Pitman's Central College, London. Above all, she did a course in the world of fashion designing from the prestigious American College as well as the Central School of Fashion, London.
Folorunsho’s began her journey in life when she joined the Sijuade Enterprises in Lagos, Nigeria way back in 1974 as executive secretary. Prior to her limelight, Alakija worked for some years at the then First National Bank of
Chicago, now known as Fin Bank. Not quite long she decided to be her own master and kick started her first business venture with her
fabulous tailoring company, known as the Supreme Stitches. Wow! What a name. Her endurance, perseverance and patience paid off as her Supreme stitches tailoring
company created a special niche for itself, as such re-named it “The Rose of Sharon House of Fashion." This business does paved way to Alakija as she was named the national President and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN). Her competency left no single pebble unturned to endorsed the Nigerian art and culture, through the forum.
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Alakija skilful hand and sense of fashion enabled her to won the heart of the formal president of Nigeria's wife, Ibrahim Badamosi Babangida. She was her tailor then and the precious angel who aided her to be granted the oil prospecting license (OPL). She enlarged her coast and expand her horizons by establishing a partnership deal with Star Deep Water Petroleum Limited. Not limited to these, the federal government of Nigeria selected her as the Vice Chairman of the National Heritage Council and Endowment for the Arts. On 9th March, 2016 the business tycoon, Alakija became the first female Chancellor at Osun State University, now Bola- Ige University in Nigeria.
Folorunsho is married to her love, Modupe Alakija, who is
a legal practitioner. The happy couple has completed thier 40 glorious years of marriage and they are blessed with four sons and grandchildren.
Folorunsho Alakija is the owner and the chairman of Famfa prospect Oil Limited, the Managing Director of The Rose of Sharon Group. This group comprises of The Rose of Sharon Prints & Promotions Limited ans the Digital
Reality Prints Limited. Forbes however, rated her as the richest woman in Nigeria with an approximate whooping net worth of $ 2.1 billion, and sit on the number 87th in the list of the ‘most powerful women’ world. Alakija is also rumoured to be the second most powerful woman in the whole of Africa.