Folorunso Alakija Receives Honorary Doctorate From UK’s University of Buckingham

Folorunso Alakija with Vice-Chancellor Professor David Cole at the University of Buckingham.

From fashion and banking to oil and gas, Nigerian businesswoman and philanthropist Folorunso Alakija has built a career across several industries. Now, the University of Buckingham in the United Kingdom has recognised her achievements with an honorary doctorate, celebrating her contributions to business, philanthropy and society.

The honour was conferred on Friday, 16 October 2026, at the university’s Radcliffe Centre during Buckingham Africa Day, as the institution marked its 50th anniversary. Dressed in a red doctoral gown, Alakija received the degree from Vice-Chancellor Professor David Cole, with family, friends and members of the university community in attendance.

For Alakija, the occasion was also an opportunity to speak to the next generation about ambition, responsibility and the importance of creating opportunities for others.

Folorunso Alakija in her doctoral gown at the University of Buckingham conferment ceremony.

Accepting the honorary degree, she thanked God and the university for the recognition, sharing her belief in Africa’s potential and the responsibility that comes with achievement.

“Africa is a continent of immense potential, creativity and resilience and that achievement carries responsibility to serve others,” she said.

She also encouraged students and young people to pursue their goals with passion, perseverance and diligence, while remaining humble and recognising the value of their contributions.

Her message reflects a career that has taken her through several fields. Before becoming widely known for her work in oil and gas through Famfa Oil, Alakija worked in banking and established herself in Nigeria’s fashion industry. She has also been involved in real estate, printing and philanthropic initiatives supporting education, women and vulnerable communities.

Folorunso Alakija with Dean of Faculty Professor Debarpita Bardhan-Correia at the Radcliffe Centre.

During the ceremony, Professor Debarpita Bardhan–Correia, Dean of the Faculty of Business, Humanities and Social Sciences, spoke about Alakija’s commitment to opening doors for others. Professor Shalom Lloyd MBE also highlighted the importance of investing in young Africans, asking, “What better investment can we make than developing Africa’s future leaders?”

After the conferment, Alakija spent time with students and guests at a reception hosted in her honour, offering advice and encouragement. Her son, Dele Alakija, and sister, Arinola Ogbara, were among the family members who joined her for the celebration, alongside friends and other guests who travelled from Nigeria.

The honorary doctorate adds another chapter to Alakija’s journey, one that began long before her success in the oil industry. And as she celebrated the recognition in Buckingham, her message to young people was clear: pursue your ambitions, remain committed to your work and use what you achieve to create opportunities for others.

Folorunso Alakija receiving her honorary doctorate degree from University of Buckingham Vice-Chancellor Professor David Cole.