Folorunsho Alakija’s Company Secures Offshore Blocks from Sierra Leone Government
Folorunsho Alakija, a distinguished Nigerian billionaire, has successfully finalized a substantial deal with the government of Sierra Leone for six offshore oil blocks. The official announcement of this significant achievement was made through a formal statement by Dr. Julius F. Sandy, the Secretary to the President of Sierra Leone.
The statement disclosed that Alakija’s oil company concluded the licensing agreement for blocks 53, 54, 55, 71, 72, and 73 on the 4th of December 2023. The Sierra Leonean government emphasized that this accord signifies the strong and enduring relationship between Nigeria and Sierra Leone.
In expressing appreciation for the partnership, Alakija underscored the mutual benefits that this agreement will bring to all involved parties. The official statement conveyed her sentiments, stating, “The License Agreement will result in a win-win outcome for both parties.”
The Sierra Leonean government reassured its citizens of their commitment to collaborating with reputable and established entities at opportune moments, underscoring the strategic significance of this agreement for the nation’s development agenda.
Notably, F. A. Oil Limited, the company involved in the deal, is a subsidiary of the F. A. Group, a conglomerate established by Folorunso Alakija in 1991. Holding the esteemed titles of CEO and Chairman of F. A. Oil Limited, Alakija has played a pivotal role in the company’s successes.
This recent venture in Sierra Leone adds to Alakija’s already substantial portfolio, as Famfa Oil Ltd, which holds a majority interest in a significant oil production field in Nigeria, continues to make significant contributions to the oil and gas industry.
Sierra Leone has recently attracted interest from numerous Nigerian companies, further strengthening the economic ties between the two countries. This development serves as a positive indication of cooperative efforts and shared opportunities for growth and development.
In conclusion, the collaboration between Folorunsho Alakija’s company and the Sierra Leonean government represents a significant milestone in the development of petroleum resources in Sierra Leone. This partnership holds great promise for both nations and contributes to Sierra Leone’s national transformation agenda.
Source:
https://tribuneonlineng.com/folorunsho-alakijas-company-secures-six-offshore-blocks-from-sierra-leone-govt/
