229 Views

Nigeria’s Richest Female Oil Tycoons

Nigeria, the 14th largest oil producing country in the world with 2.4 million barrels a day, has taken steps to open up its oil industry to locals, a policy known as “indigenisation”. Findings reveal that the oil and gas industry has largely been dominated by male entrepreneurs. But that trend seems to be changing fast, as the number of women who have become powerful stakeholders by virtue of their investment in the sector appears to be on the increase. The oil business in Nigeria today can no longer be said to be an all-male affair. LEADERSHIP Friday throws the spotlight on leading female entrepreneurs who have risen to prominence, courtesy of their investments in the oil sector.

Folurunsho Alakija (CEO, Famfa Oil)

Born in 1951to the family of Chief I. A Ogbara, Alakija is a Nigerian businesswoman, reputed to be the second richest woman in Africa after Mrs Dos Santos of Angola, with an estimated net worth of $2.5billion. The business tycoon is involved in the fashion, oil and printing industries.

Alakija began her career in the banking sector by serving as an executive secretary at Sijuade Enterprises back in 1974, before moving on to the First National Bank of Chicago, now FinBank. After working there for some years, she established a tailoring company called Supreme Stitches, which rose to prominence and fame and became a household name within few years as Rose of Sharon House of Fashion. As national president and lifelong trustee of the Fashion Designers Association of Nigeria (FADAN), she left an indelible mark, promoting Nigerian culture through fashion and style.

In May 1993, Alakija applied for the allocation of an oil-prospecting license (OPL). The license, to explore for oil on a 617, 000-acre block now referred to as OPL 216, was granted to Alakija’s company, Famfa Limited.

She is the group-managing director of The Rose of Sharon Group, which consists of The Rose of Sharon Prints and Promotions Limited and Digital Reality Prints Limited. She is also the executive vice-chairman of FAMFA Oil.

Hajiya Bola Shagaya (CEO, Bolmus Group)

Bola Shagaya is one of the richest women in Nigeria who has a stake in the oil sector. She is a businesswoman and the founder and CEO of Bolmus Group International, a diversified Nigerian conglomerate company with interests in oil, real estate and banking. (She is a board member of Unity Bank PLC).

She is also into communications and photography and is on the board of the National Economic Partnership for Africa Development (NEPAD).

Uju Ifejika (CEO, Britannia-U Group)

Catherine Uju Ifejika is a Nigerian woman of substance whose wealth is traceable to earnings from oil-related businesses. She is the chairman and chief executive of the Britannia-U Group, a group of oil and gas companies. The company is indigenous and an integrated oil and gas company, incorporated on December 4 1995 under the laws of the Federal Republic of Nigeria. The company has upstream (exploration and production), downstream, (supply and trading), shipping and sub-surface engineering affiliate companies. Recently, her business bought a stake in a major oil and gas field, Ajapa. The reserves, according to Britannia, are worth $4.3billion

A lawyer by profession, Mrs Ifejika previously worked in the oil and gas industry for 20 years with Texaco, which later merged with Chevron, rising from junior counsel to regional company secretary before retiring early to focus on building an enterprise for herself. She is a graduate of Queen’s College Enugu and the Ahmadu Bello University, Zaria, Nigeria.

Mrs Nkechi Obi (Executive Vice Chairman, Techno Oil Limited)

Mrs Nkechi Obi, MON (Member of the Order of the Niger), is the executive vice chairman of Techno Oil Ltd, Nigeria’s foremost oil and gas company. Mrs Obi is a visionary and astute businesswoman, who presides over the Techno Oil Group, a diversified conglomerate with subsidiaries and interests spanning oil and gas, aviation, power, real estate and banking.

The business activities of the company involve manufacturing, storing and marketing of refined petroleum products and providing high quality value-adding services to the retail, commercial and industrial sectors of the Nigerian economy, such as marine, construction, aviation, automotive, energy and other highly specialised sectors.

Techno Oil was founded more than a decade ago with a humble beginning, but now has annual revenue in excess of $250million.

Princess Stella Oduah (CEO, Sea Petroleum)

Princess Stella Adaeze Oduah, former minister of aviation, is one of those topping the list of Nigerian female oil merchants.

Born in Akili-Ozizor Ogbaru local government area of Anambra State on January 5 1962, Stella’s career in the oil sector officially began when she joined the Nigerian National Petroleum Corporation (NNPC) upon her return to Nigeria from the United States, where she obtained Bachelor’s and Master’s degrees in Accounting and Business Administration respectively. She distinguished herself while at the NNPC before leaving to set up Sea Petroleum and Gas (SPG), an independent marketer of petroleum products in Nigeria. The company rose from its humble beginnings to become a leading company in the competitive oil industry.

Her foray into politics saw her play a leading role in President Jonathan’s 2011 campaign.

Amy Jadesimi (MD, LADOL)

The roll call of great women in Nigeria would not be complete without her. Dr Amy Jadesimi is the managing director of Lagos Deep Offshore Logistics (LADOL) base. She is another force to be reckoned with in the Nigerian oil sector by virtue of her position at LADOL, which has become one of the giant service providers in the upstream sector.

Responding to the reality of men dominating the economy, especially the oil sector in an interview she once granted, Dr Jadesimi, a former Goldman analyst, medical doctor and MBA holder said, “Women are taken for granted… of course a woman can reach the highest levels of society.”

LADOL, which plans to invest up to $1billion developing port facilities in Lagos, has turned a site reclaimed from a swamp and an industrial wasteland into a $500million port facility to support offshore drilling operations, including ship repair, maintenance, engineering and construction. It is the only deep offshore oil and gas logistics base in Lagos and the largest privately financed logistics base in Nigeria.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Photos from Davido’s Friend, Tagbo Umeike’s Burial in Anambra State
Entertainment
25 views
Entertainment
25 views

Photos from Davido’s Friend, Tagbo Umeike’s Burial in Anambra State

PH - October 22, 2017

Davido's friend, Tagbo Umeike who died from suffocation and alcohol poisoning on the eve of his birthday at Shisha Lounge in Lekki, Lagos on October 2, has…

5 Quick And Stunning Facts About The Nigerian That Painted Obama’s Portrait
Best of Nigeria
39 views
Best of Nigeria
39 views

5 Quick And Stunning Facts About The Nigerian That Painted Obama’s Portrait

Mabel - October 21, 2017

The skilled craftsman who is a New York-based representation painter, known for his exceedingly naturalistic depictions of dark individuals in chivalrous postures, will be the main dark…

Eat These Common Foods And Lessen Your Risk Of Colon Cancer
Food and Health
49 views
Food and Health
49 views

Eat These Common Foods And Lessen Your Risk Of Colon Cancer

Mabel - October 21, 2017

You know entire grains are useful for your heart, yet they may have another advantage, as well, as indicated by a new report from the World Cancer Research…

SEE This Nollywood Director’s ‘Birthday Cake’ Everyone Is Talking About – [One Of A Kind]
Entertainment
47 views
Entertainment
47 views

SEE This Nollywood Director’s ‘Birthday Cake’ Everyone Is Talking About – [One Of A Kind]

MT - October 21, 2017

  Nollywood director, Ugezu J. Ugezu who is currently on set with his crew for the making of the movie ‘THRONE OF REVENGE’, celebrated his birthday with…

5 Drugs That Get Nigerians High Far More Than Marijuana
Food and Health
42 views
Food and Health
42 views

5 Drugs That Get Nigerians High Far More Than Marijuana

Mabel - October 21, 2017

  The codeine culture is getting more intensed in north and in urban ranges of Southern Nigeria. It is the most loved medication of decision for some…

Exquisite First Photos From Ex Governor, Mimiko’s Daughter’ Traditional Wedding In Akure
Politics
45 views
Politics
45 views

Exquisite First Photos From Ex Governor, Mimiko’s Daughter’ Traditional Wedding In Akure

MT - October 21, 2017

On Thursday 19th October, 2017, Ondo State’s former Governor Mimiko’s daughter, Bibitayo tied the knot with his sweet heart, Adetola Aderemi in the State’s capital, Akure. Dignitaries…

How Actor Mofe Duncan’s Sister Was Chased To The Point Of Death By FRSC Officials – Friend
Entertainment
32 views
Entertainment
32 views

How Actor Mofe Duncan’s Sister Was Chased To The Point Of Death By FRSC Officials – Friend

MT - October 21, 2017

  Nollywood actor, Mofe Duncan took to Instagram moments ago to narrate how his sister Matilda sustained injuries in an auto accident in Abuja. The accident, according…

Nigeria’s First Lady, Aisha Buhari Relaxes On A Yacht With Wives Of Other Leaders In Turkey (Photos)
Politics
43 views
Politics
43 views

Nigeria’s First Lady, Aisha Buhari Relaxes On A Yacht With Wives Of Other Leaders In Turkey (Photos)

MT - October 21, 2017

Nigeria’s First Lady, Mrs Aisha Buhari was seen with wives of other world leaders relaxing on a yacht in Instanbul while being hosted by the First Lady…

Quick Reminder Facts About ‘Legendary DaGrin’ As Fans Celebrate His 30th Posthumous Birthday
Buzz & Trends
33 views
Buzz & Trends
33 views

Quick Reminder Facts About ‘Legendary DaGrin’ As Fans Celebrate His 30th Posthumous Birthday

Mabel - October 21, 2017

Oladapo Olaitan Olaonipekun, also known as Dagrin (21 October 1987 – 22 April 2010), was an award-winning Nigerian rapper from Ogun, Nigeria. A film of his life…

Atiku’s Ex Daughter-in-law, Miss Ummi Reveals What Led To The Custody Battle With Ex Hubby Aminu
Politics
42 views
Politics
42 views

Atiku’s Ex Daughter-in-law, Miss Ummi Reveals What Led To The Custody Battle With Ex Hubby Aminu

MT - October 21, 2017

In an interview with Punch, Miss Ummi Bukar Bolori, ex wife of Aminu, one of the sons of the former vice president of Nigeria, Abubakar Atiku, reveals…

Kebbi State’s Accountant-General, Mohammed Dakingari, Sentenced To 70yrs Jail Term For This Reason.
Politics
39 views
Politics
39 views

Kebbi State’s Accountant-General, Mohammed Dakingari, Sentenced To 70yrs Jail Term For This Reason.

MT - October 21, 2017

The Court of Appeal Kebbi Division has upturned the judgment of a Kebbi State High Court which discharged and acquitted Mohammed Arzika Dakingari, Accountant General of Kebbi…

This Is What Governor Amosun Is Saying About The Stories Making Round That A Youth Corper Gave Birth To Twins For Him
Politics
56 views
Politics
56 views

This Is What Governor Amosun Is Saying About The Stories Making Round That A Youth Corper Gave Birth To Twins For Him

MT - October 21, 2017

Mr Ibikunle Amosun, the governor of Ogun State, on Friday morning broke his silence on what he considered as the avalanches of rumours and falsehood being peddled…

Bidemi Kosoko Shares Adorable Birthday Photos With Well Wishers
Buzz & Trends
33 views
Buzz & Trends
33 views

Bidemi Kosoko Shares Adorable Birthday Photos With Well Wishers

Mabel - October 21, 2017

Nollywood performing artist and girl of Veteran on-screen character Jide Kosoko, Bidemi Kosoko is a year more established today and the on-screen character has dropped some lovely…

Bishop Oyedepo Speaks On The Spiritual Attack On His Private Jet That Almost Killed Him Recently
Religion
45 views
Religion
45 views

Bishop Oyedepo Speaks On The Spiritual Attack On His Private Jet That Almost Killed Him Recently

MT - October 21, 2017

It was praise, worship and thanksgiving to God yesterday at Canaanland, Otta, the headquarters of the Living Faith Church Worldwide (LFCWW) . The leadership and members of…

PHOTOS: ‘I Wish My Mum Was Alive To See This’ – Davido Gushes As He Takes Photos With Oba Ewuare Of Benin
Entertainment
69 views
Entertainment
69 views

PHOTOS: ‘I Wish My Mum Was Alive To See This’ – Davido Gushes As He Takes Photos With Oba Ewuare Of Benin

MT - October 21, 2017

Nigerian music star, Davido earlier today was pictured with Edo Crown Prince for the first year anniversary of Oba Ewuare II of Benin Kingdom coronation today. The…

How This Nigerian Lady, Ekprimma Called Out An Uyo Doctor For Molesting Her Will Shock You
Shocking
26 views
Shocking
26 views

How This Nigerian Lady, Ekprimma Called Out An Uyo Doctor For Molesting Her Will Shock You

MT - October 21, 2017

An enraged Nigerian lady, Ekprimma Koko is set to go to Uyo on Sunday to probably show the whole world the man who molested her several times…

MBGN 2017 Winner, Ugochi Ihezue Super Excited As She Receives Her Official Car (Photos)
Entertainment
27 views
Entertainment
27 views

MBGN 2017 Winner, Ugochi Ihezue Super Excited As She Receives Her Official Car (Photos)

MT - October 21, 2017

Newly crowned Most Beautiful Girl in Nigeria, Ugochi Ihezue has received her official Car. The model who beat 35 contestants and walked home with the Crown got…

Former Militant Leader, Asari Dokubo Has This Strong Message For President Buhari (New Video)
Politics
36 views
Politics
36 views

Former Militant Leader, Asari Dokubo Has This Strong Message For President Buhari (New Video)

MT - October 21, 2017

Former Niger Delta militant leader, Asari Dokubo, has come for President Buhari again. In this new video, Dokubo described the President as a ''satan'' for neglecting people…

Loading...