Nigerian Oil mogul Folorunso Alakija named World's Richest Black Woman by Ventures Africa

Nigerian oil mogul, Folorunsho Alakija has emerged as the richest black woman in the world leapfrogging Oprah Winfrey who has been enjoying the tittle for some time.

According to Ventures Africa Online, contrary to the Forbes Magazine ranking which pins Alakija's net worth at only $600 million, She is actually worth at least $3.3 billion.

A fashion designer and philanthropist, Alakija 61 was born into a Nigerian wealthy family and she later started her career in the 70’s as a bank secretary at the IMF.

After she left her job as a secretary she studied fashion design in the United Kingdom (UK) and when she returned home she started her fashion store that catered for classy clients in the area.

“The business thrived, and Alakija quickly made a tidy fortune selling high-end Nigerian clothing to fashionable wives of military bigwigs and society women,” Ventures Africa reported.

Now she is the co-founder and the owner of Famfa Oil, which owns a 60 per cent interest in OML 127, an offshore oil field that, produces 200,000 barrels of oil per day.