Nigerian businesswoman and philanthropist Folorunso Alakija has received an honorary doctorate from the University of Buckingham in the United Kingdom, in recognition of her contributions to business, philanthropy and society.
The degree was conferred on Friday, October 16, 2026, at the university’s Radcliffe Centre during its Africa Day celebration, which also marked the institution’s 50th anniversary. Vice-Chancellor Professor David Cole presented the honour at a ceremony attended by university officials, family members, friends and other guests.
Accepting the degree, Alakija expressed gratitude to God and the university for the recognition. She also used the occasion to speak about Africa’s potential and the responsibility that comes with success.
“Africa is a continent of immense potential, creativity and resilience and that achievement carries responsibility to serve others,” she said.
She encouraged students and young people to pursue their goals with passion, perseverance and diligence, while remaining humble and recognising the value of their contributions.
Alakija’s career has spanned several industries. She began in banking before establishing herself in Nigeria’s fashion industry and later becoming widely known for her work in oil and gas through Famfa Oil. Her business interests have also extended to real estate and printing, alongside philanthropic initiatives supporting education, women and vulnerable communities.
During the ceremony, Professor Debarpita Bardhan-Correia, Dean of the Faculty of Business, Humanities and Social Sciences, highlighted Alakija’s commitment to creating opportunities for others.
Delivering the oration, Professor Shalom Lloyd MBE also emphasised the importance of investing in Africa’s next generation.
“What better investment can we make than developing Africa’s future leaders?” Lloyd asked.
The remarks placed mentorship and the development of young people alongside the recognition of individual achievement. They also reflected a broader question about how established leaders can use their influence and resources to expand opportunities for others.
Following the ceremony, the university hosted a reception in Alakija’s honour, where she interacted with students and guests, offering advice and encouragement. Her son, Dele Alakija, and sister, Arinola Ogbara, were among the family members who attended.
The honorary doctorate adds to the recognition of Alakija’s work across multiple sectors. Beyond celebrating her professional achievements, her message at the ceremony centred on the responsibility that accompanies success: pursuing excellence while contributing to the development of others.
