Folorunsho Alakija Makes Forbes List Of Most Powerful Women Of 2016

Africa richest woman, Folorunsho Alakija has been named among one of the 100 Most Powerful Women of 2016 according to a list released by Forbes. The magazine released its annual, and Folorunsho Alakija’s whose net worth as of yesterday, June 6, 2016 is $1.72 billion was among those listed. The 66-year-old married mother of four is the vice chair of Famfa Oil, a Nigerian oil exploration company that has a 60% participating interest in block OML 127, part of the larger Agbami field, one of Nigeria’s largest deepwater discoveries, about 70 miles offshore. It partners include Chevron and Petrobras. Her first company was a fashion label that catered to Nigeria’s elite women, including the wife of former military president, Ibrahim Babangida, who awarded Alakija’s company an oil prospecting license. Alakija’s net worth has fallen in the past year as a result of lower oil prices. German Chancellor Angela Merkel topped the list for the second time in a row, while US White House hopeful Hillary Clinton came in second, also steady in her ranking, and has a clear shot at the number one spot if she wins the Presidential election, Forbes said. US Fed Reserve Chair Janet Yellen, philanthropist Melinda Gates and General Motors CEO Mary Barra rounded off the top five.