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Jackie graced the cover of the special "Men of the Year" issue of Harper's Bazaar Men's Style magazine in China.
Jackie graced the cover of the special "Men of the Year" issue of Harper's Bazaar Men's Style magazine in China.

JACKIE CHAN NAMED THE MEN OF THE YEAR IN A ONE STYLE MAGAZINE IN CHINA

Jackie graced the cover of the special "Men of the Year" issue of Harper's Bazaar Men's Style magazine in China.
Jackie graced the cover of the special "Men of the Year" issue of Harper's Bazaar Men's Style magazine in China.
MUST READ STORY!
A guy promised his girlfriend that he would buy her a diamond ring as her birthday gift. The girl was very happy. She went to the salon to have some make over to look beautiful on her birthday. She bought make-ups, new clothes and new shoes. Finally, the day she's been waiting for, arrived. She looked elegant, gorgeous...the dream girl for every man. Everybody was focused on her. The party was going to take place in one of those party buses. They were going to pick up her boyfriend from a bus stop. When her boyfriend arrived with a simple doll, the girl got mad at her boyfriend. She thought that he would give her a diamond ring instead of a doll. She threw the doll away. The guy ask the bus driver to stop the bus so that he can pick up the doll, but he was hit by a car. He died in hospital after few hours later. The girl felt very sorry, she cried every minute. At the funeral the girl remembered the good times they had. She hugged the doll tightly, full of love and regret. She was shocked when the doll talked and said "HAPPY BIRTHDAY BABY, will you marry me? She then gets the ring in the doll's pocket with the note, hope you like it, I love you! The girl was cried even louder and shouted, " I'm sorry baby, i didn't know, i love u too", but the guy was gone forever.

MORAL OF THE STORY

We should learn to appreciate whatever comes our way because it might just be what we actually need and not what we want

A BIRTHDAY GIFT "APPRECIATE WHATEVER COMES YOUR WAY"

MUST READ STORY!
A guy promised his girlfriend that he would buy her a diamond ring as her birthday gift. The girl was very happy. She went to the salon to have some make over to look beautiful on her birthday. She bought make-ups, new clothes and new shoes. Finally, the day she's been waiting for, arrived. She looked elegant, gorgeous...the dream girl for every man. Everybody was focused on her. The party was going to take place in one of those party buses. They were going to pick up her boyfriend from a bus stop. When her boyfriend arrived with a simple doll, the girl got mad at her boyfriend. She thought that he would give her a diamond ring instead of a doll. She threw the doll away. The guy ask the bus driver to stop the bus so that he can pick up the doll, but he was hit by a car. He died in hospital after few hours later. The girl felt very sorry, she cried every minute. At the funeral the girl remembered the good times they had. She hugged the doll tightly, full of love and regret. She was shocked when the doll talked and said "HAPPY BIRTHDAY BABY, will you marry me? She then gets the ring in the doll's pocket with the note, hope you like it, I love you! The girl was cried even louder and shouted, " I'm sorry baby, i didn't know, i love u too", but the guy was gone forever.

MORAL OF THE STORY

We should learn to appreciate whatever comes our way because it might just be what we actually need and not what we want


1. Bananas regulate the bowel system: Are you suffering from constipation? The best solution to constipation is eating a banana a day. This is one of the major health benefits of …bananas. Bananas are rich in fiber that helps in regulating the bowel functions.



2. Bananas reduce the risk of heart diseases and blood pressure: You might be surprised to hear this health benefit of bananas; yes, bananas reduce the risk of heart diseases as well as lowers blood pressure levels. How? Bananas are rich in potassium, which is very vital for the muscle contraction and proper functioning of the heart and nervous system. Do you know how much of potassium is required a day? It is just 4g and you get this by eating a banana. Isn’t this health benefit of banana amazing?

3. Bananas reduce depression: Tryptophan acids are present in bananas and these help in reducing depression and thereby improve your mood. Studies show that bananas are also helpful in reducing stress levels. In this age of stress, this health benefit of banana is truly great.

4. Eat bananas for healthy bones: What do you require for healthy bones? One requires calcium for healthy bones, am I right? Pro biotic bacteria help in absorbing calcium and increasing the digestive ability. This helpful bacterium is present in bananas. Green bananas are especially helpful in absorbing calcium.

5. Reduce menstrual pains with bananas: Do you get menstrual pains? Majority of the women folk take pills to reduce menstrual pains. Rather taking these pain killers eat a banana. Bananas are rich in vitamin B6 that helps in regulating blood glucose levels. This helps in balancing your overall mood and hence reduces menstrual pains. Most of women found this health benefit of banana very useful. How about you?

6. Bananas help ulcer patients: Another major health benefit of bananas is their capability of fighting intestinal disorders. Eating a raw banana reduces irritation in the stomach and reduces the effect of over acidity.

7. Bananas and anemia: Bananas are not only rich in potassium but also rich in iron; therefore, eating a banana increases iron and thereby high hemoglobin. When hemoglobin content is increased, naturally anemic conditions decreases. Forgot those pills for anemia and take a banana. Wow…yet another amazing health benefit of banana.

8. Quit smoking by eating bananas: Another amazing health benefit of banana is that it helps people who wish to quit smoking. Smokers have a high level of nicotine; minerals in banana like potassium and magnesium and vitamins B6 and B12 help in reducing nicotine. Smokers, take a note of this and quit smoking by taking bananas.

9. Bananas increase brain power: A survey was conducted very recently among 200 students at a school in Middle sex. They were given bananas along with their normal diet for their breakfast, break and lunch. Research proved that potassium in bananas helped to increase their mental alertness and boost brain power. Remember this health benefit of banana and make your child eat a banana everyday to score high in studies.

10. Reduce itching of mosquito bites with bananas: What do you normally do when there is an itching or swelling due to mosquito bites? We go in for creams that reduce itching and swelling. Rather using these creams, use banana peels. Rub the itching or swelling area with the inside of banana peels and see for yourself how soon you get relief from mosquito bite itching or swelling

THE HEALTH BENEFITS OF EATING BANANAS



1. Bananas regulate the bowel system: Are you suffering from constipation? The best solution to constipation is eating a banana a day. This is one of the major health benefits of …bananas. Bananas are rich in fiber that helps in regulating the bowel functions.



2. Bananas reduce the risk of heart diseases and blood pressure: You might be surprised to hear this health benefit of bananas; yes, bananas reduce the risk of heart diseases as well as lowers blood pressure levels. How? Bananas are rich in potassium, which is very vital for the muscle contraction and proper functioning of the heart and nervous system. Do you know how much of potassium is required a day? It is just 4g and you get this by eating a banana. Isn’t this health benefit of banana amazing?

3. Bananas reduce depression: Tryptophan acids are present in bananas and these help in reducing depression and thereby improve your mood. Studies show that bananas are also helpful in reducing stress levels. In this age of stress, this health benefit of banana is truly great.

4. Eat bananas for healthy bones: What do you require for healthy bones? One requires calcium for healthy bones, am I right? Pro biotic bacteria help in absorbing calcium and increasing the digestive ability. This helpful bacterium is present in bananas. Green bananas are especially helpful in absorbing calcium.

5. Reduce menstrual pains with bananas: Do you get menstrual pains? Majority of the women folk take pills to reduce menstrual pains. Rather taking these pain killers eat a banana. Bananas are rich in vitamin B6 that helps in regulating blood glucose levels. This helps in balancing your overall mood and hence reduces menstrual pains. Most of women found this health benefit of banana very useful. How about you?

6. Bananas help ulcer patients: Another major health benefit of bananas is their capability of fighting intestinal disorders. Eating a raw banana reduces irritation in the stomach and reduces the effect of over acidity.

7. Bananas and anemia: Bananas are not only rich in potassium but also rich in iron; therefore, eating a banana increases iron and thereby high hemoglobin. When hemoglobin content is increased, naturally anemic conditions decreases. Forgot those pills for anemia and take a banana. Wow…yet another amazing health benefit of banana.

8. Quit smoking by eating bananas: Another amazing health benefit of banana is that it helps people who wish to quit smoking. Smokers have a high level of nicotine; minerals in banana like potassium and magnesium and vitamins B6 and B12 help in reducing nicotine. Smokers, take a note of this and quit smoking by taking bananas.

9. Bananas increase brain power: A survey was conducted very recently among 200 students at a school in Middle sex. They were given bananas along with their normal diet for their breakfast, break and lunch. Research proved that potassium in bananas helped to increase their mental alertness and boost brain power. Remember this health benefit of banana and make your child eat a banana everyday to score high in studies.

10. Reduce itching of mosquito bites with bananas: What do you normally do when there is an itching or swelling due to mosquito bites? We go in for creams that reduce itching and swelling. Rather using these creams, use banana peels. Rub the itching or swelling area with the inside of banana peels and see for yourself how soon you get relief from mosquito bite itching or swelling
Many people have grown weary about the commercialization of the Christmas holiday, but don't necessarily know many alternatives to the traditional gift-giving ritual. For those who do not observe the holiday religiously or are looking for a different way to occupy themselves on Dec. 25, there are quite a few options. 

  1. Charity
    • Instead of buying and receiving vast amounts of gifts, volunteer your and your loved ones' services to a homeless shelter or soup kitchen on Christmas Day. Research in advance those charities that are most in need during the holiday season, and call to ask if they could use your help. Volunteering to help others who are less fortunate, especially on this family and abundance-brimming holiday, is an extremely rewarding and meaningful way to invest your energies.
    Get Active
    • While the traditional Christmas Day routine might involve big breakfasts and hours of gift opening, get outdoors instead and get some exercise. If you are alone over the holidays or have a small family, call friends or other family members to organize a cross-country or game reserves, zoo visiting, a canoe trip or a day hike in the mountains. While everyone else is eating chocolate and putting on holiday pounds, you will be nurturing your body and enjoying the crisp winter weather.
    Vacation
    • Celebrate the Christmas holiday by getting away to a new or favorite destination with your loved ones. Instead of tangible gifts, let this trip be your present to one another. Talk with your family, friends or partner a few months before to brainstorm places you might like to go and your budgetary limits. Come up with a place that will be fun and worthwhile for everyone involved, so that they will not feel as if they are missing out on a more traditional celebration.
    Party
    • Rather than gift giving and eating only, organize a party with your best friends for Christmas Day or evening. If your friends like to get loose, hire a DJ or ask everyone to bring their favorite CDs. If you are not in the mood to cook, make the party potluck so that everyone contributes and no one is left with all of the preparation work. For added fun, have a theme for the party and ask everyone to come dressed accordingly.

      BEST HOPE WISH YOU A MERRY CHRISTMAS
      A HAPPY NEW YEAR

ALTERNATIVE WAYS TO SPEND A CHRISTMAS DAY

Many people have grown weary about the commercialization of the Christmas holiday, but don't necessarily know many alternatives to the traditional gift-giving ritual. For those who do not observe the holiday religiously or are looking for a different way to occupy themselves on Dec. 25, there are quite a few options. 

  1. Charity
    • Instead of buying and receiving vast amounts of gifts, volunteer your and your loved ones' services to a homeless shelter or soup kitchen on Christmas Day. Research in advance those charities that are most in need during the holiday season, and call to ask if they could use your help. Volunteering to help others who are less fortunate, especially on this family and abundance-brimming holiday, is an extremely rewarding and meaningful way to invest your energies.
    Get Active
    • While the traditional Christmas Day routine might involve big breakfasts and hours of gift opening, get outdoors instead and get some exercise. If you are alone over the holidays or have a small family, call friends or other family members to organize a cross-country or game reserves, zoo visiting, a canoe trip or a day hike in the mountains. While everyone else is eating chocolate and putting on holiday pounds, you will be nurturing your body and enjoying the crisp winter weather.
    Vacation
    • Celebrate the Christmas holiday by getting away to a new or favorite destination with your loved ones. Instead of tangible gifts, let this trip be your present to one another. Talk with your family, friends or partner a few months before to brainstorm places you might like to go and your budgetary limits. Come up with a place that will be fun and worthwhile for everyone involved, so that they will not feel as if they are missing out on a more traditional celebration.
    Party
    • Rather than gift giving and eating only, organize a party with your best friends for Christmas Day or evening. If your friends like to get loose, hire a DJ or ask everyone to bring their favorite CDs. If you are not in the mood to cook, make the party potluck so that everyone contributes and no one is left with all of the preparation work. For added fun, have a theme for the party and ask everyone to come dressed accordingly.

      BEST HOPE WISH YOU A MERRY CHRISTMAS
      A HAPPY NEW YEAR
Ikiwa ni miezi kazaa tangu vijana wa darasa la saba tangu wafanye mitihani yao ya kuhitimu darasa la saba muda ,muafaka ambao umekuwa ukingojewa kwa hamu na vijana hao ili kujua kile walichokivuna kwa kukaa shule kwa muda wa miaka saba sasa wakaribia ambapo ni huwa ni kabla ya krismasi kuanzia tarehe 20 hadi 25. Mwaka jana jumla ya wanafunzi 567,567 walifaulu mitihani ya kumaliza elimu ya msingi, je mwaka huu wataweza kufikia kiwango hicho ikizingatiwa kumekuwa ni migomo ya mara kwwa mara ya walimu? 
  • Je endapo ufaulu wa wanafunzi utapungua kwa kiasi kikubwa lawama ziende kwa nani, waziri wa wizara husika au serikali kwa kuto timiza matakwa ya walimu?

Katika msimu wa mwaka jana Baraza la Mtihani la Taifa lilifuta matokeo yote ya watahiniwa 9,736 sawa na asilimia 1.0 waliobainika kufanya udanganyifu wakati wa mtihani huo.
  • Je mwaka huu itakuwaje kwa watahiniwa hao ambao hawakupata masomo kwa mda wote kutokana na mgomo ya walimu.

Mwaka jana kiwango cha ufaulu kiliongezeka hadi kufikia asilimia 58.28 ukilinganisha na cha mwaka juzi ambacho kilikuwa asimilia 53.52.
  • Endapo kiwango kitashuka kwa mwaka huu je serikali itachukua hatua gani kwa walimu? na ninani wakulaumiwa walimu wa shule hizo kwa kutofundisha au serikali kwa kutowalipa walimu madai yao!
TAFAKARI MUELEKEO WA ELIMU YA TANZANIA! 

MATOKEO YA DARASA LA SABA MWAKA 212 MBIONI KUTANGAZWA HUKU KUKIWA NA HOFU KUBWA YA KUSHUKA KWA KIWANGO CHA UFALU KUTOKANA NA MIGOMO YA WALIMU

Ikiwa ni miezi kazaa tangu vijana wa darasa la saba tangu wafanye mitihani yao ya kuhitimu darasa la saba muda ,muafaka ambao umekuwa ukingojewa kwa hamu na vijana hao ili kujua kile walichokivuna kwa kukaa shule kwa muda wa miaka saba sasa wakaribia ambapo ni huwa ni kabla ya krismasi kuanzia tarehe 20 hadi 25. Mwaka jana jumla ya wanafunzi 567,567 walifaulu mitihani ya kumaliza elimu ya msingi, je mwaka huu wataweza kufikia kiwango hicho ikizingatiwa kumekuwa ni migomo ya mara kwwa mara ya walimu? 
  • Je endapo ufaulu wa wanafunzi utapungua kwa kiasi kikubwa lawama ziende kwa nani, waziri wa wizara husika au serikali kwa kuto timiza matakwa ya walimu?

Katika msimu wa mwaka jana Baraza la Mtihani la Taifa lilifuta matokeo yote ya watahiniwa 9,736 sawa na asilimia 1.0 waliobainika kufanya udanganyifu wakati wa mtihani huo.
  • Je mwaka huu itakuwaje kwa watahiniwa hao ambao hawakupata masomo kwa mda wote kutokana na mgomo ya walimu.

Mwaka jana kiwango cha ufaulu kiliongezeka hadi kufikia asilimia 58.28 ukilinganisha na cha mwaka juzi ambacho kilikuwa asimilia 53.52.
  • Endapo kiwango kitashuka kwa mwaka huu je serikali itachukua hatua gani kwa walimu? na ninani wakulaumiwa walimu wa shule hizo kwa kutofundisha au serikali kwa kutowalipa walimu madai yao!
TAFAKARI MUELEKEO WA ELIMU YA TANZANIA! 

Former undisputed heavyweight boxing champion of the world Mike Tyson is said to be “feeling fine” after undergoing successful gender reassignment surgery at a clinic near Beverley Hills.
Report by NewsBiscuit
Once known as “The Baddest Man on the Planet”, the boxer said having his first menstrual cycle “would be a dream come true”, and that from now on he would be known as Michelle.
“Some people might think it strange that I’m now a woman,” said Tyson, who underwent complete facial feminisation, orbital bone contouring and nasal surgery in an operation lasting over 16 hours.
‘But even at the height of my career, when pound for pound I was regarded as the best fighter in the world, I never lost touch with my feminine side and knew that one day I would grow breasts and have a vagina.’
Iron Mike was given the all-clear for gender reassignment surgery following a successful course in hormone replacement therapy which, in his autobiography, the boxer blamed for his 1996 defeat at the hands of Evander Holyfield.
Although at the time Tyson insisted he was fit enough to carry on with the fight, referee Mitch Halpern stopped the bout in the 11th round saying Tyson looked flushed, was sweating profusely and appeared to be lactating heavily from his left breast.
Tyson, said he hoped being female would finally convince the American people that his “bad-boy” days were over and he had turned over a new leaf.

THE FORMER UNDISPUTED HEAVY WEIGHT MIKE TYSON NOW FEMALE


Former undisputed heavyweight boxing champion of the world Mike Tyson is said to be “feeling fine” after undergoing successful gender reassignment surgery at a clinic near Beverley Hills.
Report by NewsBiscuit
Once known as “The Baddest Man on the Planet”, the boxer said having his first menstrual cycle “would be a dream come true”, and that from now on he would be known as Michelle.
“Some people might think it strange that I’m now a woman,” said Tyson, who underwent complete facial feminisation, orbital bone contouring and nasal surgery in an operation lasting over 16 hours.
‘But even at the height of my career, when pound for pound I was regarded as the best fighter in the world, I never lost touch with my feminine side and knew that one day I would grow breasts and have a vagina.’
Iron Mike was given the all-clear for gender reassignment surgery following a successful course in hormone replacement therapy which, in his autobiography, the boxer blamed for his 1996 defeat at the hands of Evander Holyfield.
Although at the time Tyson insisted he was fit enough to carry on with the fight, referee Mitch Halpern stopped the bout in the 11th round saying Tyson looked flushed, was sweating profusely and appeared to be lactating heavily from his left breast.
Tyson, said he hoped being female would finally convince the American people that his “bad-boy” days were over and he had turned over a new leaf.

According to a Ventures Africa article Mrs Folorusho Alakija is now the richest black woman in the world not media mogul Oprah Winfrey (who is worth 2.7 billion dollars). The article breaks down Mrs Alakija’s total net worth and pegs it at $6.4 billion not $600 Million as stated in last week’s Forbes Africa Top 40 Africa Rich List which put her at Number 21.

6.4 Billion DOLLARS!!!  Oprah’s net worth doesn’t even come up to half of hers!

Here’s the breakdown of her wealth:

According to Fool.co.uk, OML 30 currently produces 35,000 barrels of oil per day.

So, if 45 percent of a 35,000 bpd-producing oil bloc is $850 million, 100 percent of the same bloc = $1.88 billion i.e 100/45 x $850 million

If a 100 percent stake in a 35,000 bpd-producing oil bloc is $1.88 billion, by the same logic, a 100 percent stake in 200,000 bpd-producing oil bloc is worth $10.74 billion i.e 200,000 bpd/35,000 bpd X $1.88 billion

Folorunsho Alakija’s 60 percent stake in a $10.74 billion oil well is worth $6.44 billion.

Technically, her 60 percent stake in OML 127 is worth $6.44 billion.

Oil Prospecting License
In May 1993 Alakija applied for an allocation of an Oil Prospecting License (OPL). The license to explore for oil on a 617,000 acre block – (now referred to as OPL 216) was granted to Alakija’s company, Famfa Limited. The block is located approximately 220 miles South East of Lagos and 70 miles offshore Nigeria in the central Niger Delta.

This was in 1993. Many wealthy Nigerian businessmen and military bigwigs who had been allocated oil blocs by the military administration at the time had no clue as to the technicalities in operating an oil block, so many of them typically acquired OPLs, and then flipped them off to international oil companies for substantial profits.

But Alakija was intelligent. She had no expertise or experience in running an oil field, but she decided not to sell off her license. In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly-owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off 8 percent of its stake in OPL 216 to Petrobas, a Brazilian company. Folorunsho Alakija and her family owned 60 percent.

Nigerian Government Forcefully Acquires Stake In The Block
Star Deep Petroleum carried on with exploitation of the oil field. In 2000, the first appraisal well was confirmed to have recoverable reserves in excess of 1 billion barrels of oil equivalent. When this was discovered, the Nigerian government, led by Olusegun Obasanjo immediately ordered that a 40 percent interest in OPL 216 be allocated to the Nigerian National Petroleum Corporation (NNPC) under the Back-in-Right Regulation of 2003 which gives the Nigerian government participatory rights in any OPL or OML.

This would leave Famfa Oil with a 20 percent stake. This was in 2000, and the government did not pay Famfa a dime for the stake. In 2003, Famfa applied for a conversion from an OPL to an OML, and in 2004 the request was granted. OPL 216 became OML 127.
But the Nigerian government was not content with its 40 percent stake in Famfa. In 2005, the government led by General Olusegun Obasanjo forcefully acquired a further 10 percent stake in OML 127.

Folorunsho Alakija immediately went to the courts to challenge the government’s forceful acquisition take a 50% in the license. It was a lengthy court battle which lasted for several years, but in May 2012, the Supreme Court voided the government’s acquisition of a 50 percent stake in OML 127 and subsequently transferred the 50 percent stake back to Famfa Oil.

The Nigerian government tried to appeal the Supreme’s court decision, but the case has been dismissed- a victory for Famfa Oil which sees the little-known oil company owning a 60 percent in OML 127, which is one of Nigeria’s most prolific oil blocks.

Valuation Of OML 127
Daily production at OML 127 currently stands at 200,000 barrels per day. When the Nigerian government, through its wholly-owned petroleum company, NNPC, was trying to justify its forceful acquisition of a 50 percent stake in OML 127 at the Supreme court, the Government admitted that if Famfa Oil owned a 60 percent stake in the OML, the company stood to earn $10 million on a daily basis (after taxes and other exploration costs have been settled).

So how much is a 60 percent stake in OML 127 worth?
Comparator: In July 2012, Royal Dutch Shell agreed to sell its 45 percent stake in OML 30 for $850 million to Heritage Oil and Shoreline Energy.

According to Fool.co.uk, OML 30 currently produces 35,000 barrels of oil per day.

So, if 45 percent of a 35,000 bpd-producing oil bloc is $850 million, 100 percent of the same bloc = $1.88 billion i.e 100/45 x $850 million

If a 100 percent stake in a 35,000 bpd-producing oil bloc is $1.88 billion, by the same logic, a 100 percent stake in 200,000 bpd-producing oil bloc is worth $10.74 billion i.e 200,000 bpd/35,000 bpd X $1.88 billion

Folorunsho Alakija’s 60 percent stake in a $10.74 billion oil well is worth $6.44 billion.

Technically, her 60 percent stake in OML 127 is worth $6.44 billion.

Another comparator: In November 2012, French oil group Total announced that it was selling a 20 percent stake in its Nigerian offshore oil field to China’s Sinopec in a $2.5 billion deal. The block in question, OML 138 is a 180,000 bpd facility.

So, if a 20 percent stake in an 180,000 bpd facility offshore block is worth $2.5 billion, the entire block is worth $12.5 billion i.e 100/20 x $2.5 billion. Since a 180,000 bpd-producing facility is worth $12.5 billion, a 200,000 bpd-producing facility is worth $13.8 billion because 200,000/180,000 x $12.5 billion.

Using the Total-Sinopec deal as the yardstick, we could also value OML 127 at $13.8 billion. In that case, her 60 percent stake would be worth $8.3 billion.

But to be conservative, we prefer to go with the lower valuation of $6.44 billion.

On Debt
Ventures Africa reached out to Famfa Limited to comment, but the company declined to divulge any information regarding any long-term or short-term debt. We have no idea on how much debt (if any, the company has), but even if we take the high side, and subtract 50 percent of the value of her stake for debt, that still gives her 60 percent stake in OML 127 a market value of $3.2 billion, which makes her richer than the $2.7 billion Oprah Winfrey is worth according to Forbes Magazine’s last rankings.

Real Estate: $100 million
Folorunsho Alakija also has a real estate portfolio worth over $100 million.  Earlier this year, Nigerian and British media announced that Alakija acquired a property at One Hyde Park for $102 million.

A source at Famfa Oil who asked for anonymity indeed confirmed that Mrs. Alakija actually acquired the property at One Hyde Park.

Private Jet
Alakija owns a Bombardier Global Express 6000 which she bought earlier this year for a reported $46 million.

PHILANTHROPY
Folorunsho Alakija is the founder of the Rose of Sharon foundation, a Christian-based charity which gives out small grants to widows.

PERSONAL
Alakija is married to Modupe Alakija and they have four grown-up sons together.  She also has a grandchild from her first son. Modupe Alakija, her husband is the Chairman of Famfa Oil. Her sons run the company.

NIGERIAN WOMAN NAMED THE RICHEST BLACK WOMAN BY FORBES, KICKED OPRAH WINFREY OUTTA NUMBER ONE


According to a Ventures Africa article Mrs Folorusho Alakija is now the richest black woman in the world not media mogul Oprah Winfrey (who is worth 2.7 billion dollars). The article breaks down Mrs Alakija’s total net worth and pegs it at $6.4 billion not $600 Million as stated in last week’s Forbes Africa Top 40 Africa Rich List which put her at Number 21.

6.4 Billion DOLLARS!!!  Oprah’s net worth doesn’t even come up to half of hers!

Here’s the breakdown of her wealth:

According to Fool.co.uk, OML 30 currently produces 35,000 barrels of oil per day.

So, if 45 percent of a 35,000 bpd-producing oil bloc is $850 million, 100 percent of the same bloc = $1.88 billion i.e 100/45 x $850 million

If a 100 percent stake in a 35,000 bpd-producing oil bloc is $1.88 billion, by the same logic, a 100 percent stake in 200,000 bpd-producing oil bloc is worth $10.74 billion i.e 200,000 bpd/35,000 bpd X $1.88 billion

Folorunsho Alakija’s 60 percent stake in a $10.74 billion oil well is worth $6.44 billion.

Technically, her 60 percent stake in OML 127 is worth $6.44 billion.

Oil Prospecting License
In May 1993 Alakija applied for an allocation of an Oil Prospecting License (OPL). The license to explore for oil on a 617,000 acre block – (now referred to as OPL 216) was granted to Alakija’s company, Famfa Limited. The block is located approximately 220 miles South East of Lagos and 70 miles offshore Nigeria in the central Niger Delta.

This was in 1993. Many wealthy Nigerian businessmen and military bigwigs who had been allocated oil blocs by the military administration at the time had no clue as to the technicalities in operating an oil block, so many of them typically acquired OPLs, and then flipped them off to international oil companies for substantial profits.

But Alakija was intelligent. She had no expertise or experience in running an oil field, but she decided not to sell off her license. In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly-owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off 8 percent of its stake in OPL 216 to Petrobas, a Brazilian company. Folorunsho Alakija and her family owned 60 percent.

Nigerian Government Forcefully Acquires Stake In The Block
Star Deep Petroleum carried on with exploitation of the oil field. In 2000, the first appraisal well was confirmed to have recoverable reserves in excess of 1 billion barrels of oil equivalent. When this was discovered, the Nigerian government, led by Olusegun Obasanjo immediately ordered that a 40 percent interest in OPL 216 be allocated to the Nigerian National Petroleum Corporation (NNPC) under the Back-in-Right Regulation of 2003 which gives the Nigerian government participatory rights in any OPL or OML.

This would leave Famfa Oil with a 20 percent stake. This was in 2000, and the government did not pay Famfa a dime for the stake. In 2003, Famfa applied for a conversion from an OPL to an OML, and in 2004 the request was granted. OPL 216 became OML 127.
But the Nigerian government was not content with its 40 percent stake in Famfa. In 2005, the government led by General Olusegun Obasanjo forcefully acquired a further 10 percent stake in OML 127.

Folorunsho Alakija immediately went to the courts to challenge the government’s forceful acquisition take a 50% in the license. It was a lengthy court battle which lasted for several years, but in May 2012, the Supreme Court voided the government’s acquisition of a 50 percent stake in OML 127 and subsequently transferred the 50 percent stake back to Famfa Oil.

The Nigerian government tried to appeal the Supreme’s court decision, but the case has been dismissed- a victory for Famfa Oil which sees the little-known oil company owning a 60 percent in OML 127, which is one of Nigeria’s most prolific oil blocks.

Valuation Of OML 127
Daily production at OML 127 currently stands at 200,000 barrels per day. When the Nigerian government, through its wholly-owned petroleum company, NNPC, was trying to justify its forceful acquisition of a 50 percent stake in OML 127 at the Supreme court, the Government admitted that if Famfa Oil owned a 60 percent stake in the OML, the company stood to earn $10 million on a daily basis (after taxes and other exploration costs have been settled).

So how much is a 60 percent stake in OML 127 worth?
Comparator: In July 2012, Royal Dutch Shell agreed to sell its 45 percent stake in OML 30 for $850 million to Heritage Oil and Shoreline Energy.

According to Fool.co.uk, OML 30 currently produces 35,000 barrels of oil per day.

So, if 45 percent of a 35,000 bpd-producing oil bloc is $850 million, 100 percent of the same bloc = $1.88 billion i.e 100/45 x $850 million

If a 100 percent stake in a 35,000 bpd-producing oil bloc is $1.88 billion, by the same logic, a 100 percent stake in 200,000 bpd-producing oil bloc is worth $10.74 billion i.e 200,000 bpd/35,000 bpd X $1.88 billion

Folorunsho Alakija’s 60 percent stake in a $10.74 billion oil well is worth $6.44 billion.

Technically, her 60 percent stake in OML 127 is worth $6.44 billion.

Another comparator: In November 2012, French oil group Total announced that it was selling a 20 percent stake in its Nigerian offshore oil field to China’s Sinopec in a $2.5 billion deal. The block in question, OML 138 is a 180,000 bpd facility.

So, if a 20 percent stake in an 180,000 bpd facility offshore block is worth $2.5 billion, the entire block is worth $12.5 billion i.e 100/20 x $2.5 billion. Since a 180,000 bpd-producing facility is worth $12.5 billion, a 200,000 bpd-producing facility is worth $13.8 billion because 200,000/180,000 x $12.5 billion.

Using the Total-Sinopec deal as the yardstick, we could also value OML 127 at $13.8 billion. In that case, her 60 percent stake would be worth $8.3 billion.

But to be conservative, we prefer to go with the lower valuation of $6.44 billion.

On Debt
Ventures Africa reached out to Famfa Limited to comment, but the company declined to divulge any information regarding any long-term or short-term debt. We have no idea on how much debt (if any, the company has), but even if we take the high side, and subtract 50 percent of the value of her stake for debt, that still gives her 60 percent stake in OML 127 a market value of $3.2 billion, which makes her richer than the $2.7 billion Oprah Winfrey is worth according to Forbes Magazine’s last rankings.

Real Estate: $100 million
Folorunsho Alakija also has a real estate portfolio worth over $100 million.  Earlier this year, Nigerian and British media announced that Alakija acquired a property at One Hyde Park for $102 million.

A source at Famfa Oil who asked for anonymity indeed confirmed that Mrs. Alakija actually acquired the property at One Hyde Park.

Private Jet
Alakija owns a Bombardier Global Express 6000 which she bought earlier this year for a reported $46 million.

PHILANTHROPY
Folorunsho Alakija is the founder of the Rose of Sharon foundation, a Christian-based charity which gives out small grants to widows.

PERSONAL
Alakija is married to Modupe Alakija and they have four grown-up sons together.  She also has a grandchild from her first son. Modupe Alakija, her husband is the Chairman of Famfa Oil. Her sons run the company.

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