Alakija Joins Otedola, Rabiu, Donates N1bn

Folorunso AlakijaFolorunso Alakija
  • Alakija Joins Otedola, Rabiu, Donates N1bn

In an effort to put an end to the fast-spreading coronavirus in Nigeria, Mr. and Mrs. Modupe and Folorunso Alakija have joined the list of Nigeria’s billionaires donating to complement government’s efforts.

In a letter released on Mrs Alakija’s Linkedin page, the Chairman and Vice-Chairman of Famfa Oil Ltd, Mr Modupe and Mrs Folorunso Alakija, said as “the world rallies to deal with the health, security, economic and social implications of the coronavirus, it’s clear that we will feel the effects much more deeply than many of the developed world. Managing a crisis of this magnitude means that the strength of our response will determine our ability to weather the storm.”

A break down shows the couple, through Famfa Oil Ltd, donated N250,000,000 to the Nigeria Centre for Disease Control. While another N250,000,000 was donated to the Lagos State Government.

The billionaire couple also donated N100,000,000 each to medical workers on the frontline in Lagos and Abuja.

A total sum of N245,000,000 was donated for the supply of medical equipment to relevant organisations. While the remaining N5,000,000 will be donated to Dr. Ameyo Stella Adadevoh (DRASA) Health Trust.

“We will work with these organisations to determine their specific requirements in the furtherance of our collective fight against Covid-19. We will also oversee the procurement of these products and facilities to ensure that our contributions is deployed in the most impactful way.”Famfe oil

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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