Forbes Names Folorunsho Alakija as One Of World’s 100 Powerful Women Of 2016

One of the world’s richest women, billionaire oil tycoon Folorunsho Alakija has been announced has been named as one of the world’s 100 most powerful women of 2016 Forbes magazine in its annual list of 100 Most Powerful Women of 2016.

The list also includes familiar and upcoming industry leaders in the field of business, entrepreneurship, investing, science, philanthropy.. etc.

The proud mother of four is the vice chairman 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. Its 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.

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According to the list, German Chancellor Angela Merkel topped the list again this year, as she “guided her country through a recession with stimulus packages and subsidies for companies, with Germany entering 2016 with a budget surplus of 12.1 billion euros (S$18.6 billion) and an AAA rating from credit rating agencies.

The second on the list is the US White House hopeful Hillary Clinton, also steady in her ranking, and has a clear shot at the number one spot if she wins the Presidential election, Forbes said.

Other notable faces on the list included IMF chief Christine Lagarde (No. 6), Facebook COO Sheryl Sandberg (No. 7), Entrepreneur/Actress Oprah Winfrey (No. 21), Fashion guru and longtime Vogue editor Anna Wintour (No. 28), World Health Organisation director-general Margaret Chan (No. 38) and China’s first lady Peng Liyuan (No. 58).