{"id":68300,"date":"2021-07-06T12:19:25","date_gmt":"2021-07-06T11:19:25","guid":{"rendered":"https:\/\/buzznigeria.com\/?p=68300"},"modified":"2021-07-06T12:19:30","modified_gmt":"2021-07-06T11:19:30","slug":"a-trace-of-how-hajia-bola-shagaya-became-one-of-the-richest-women-in-africa","status":"publish","type":"post","link":"https:\/\/buzznigeria.com\/a-trace-of-how-hajia-bola-shagaya-became-one-of-the-richest-women-in-africa\/","title":{"rendered":"A Trace of How Hajia Bola Shagaya Became One of The Richest Women in Africa"},"content":{"rendered":"
Hajia Bola Shagaya is a talented Nigerian businesswoman and fashion enthusiast whose net worth is estimated at $630 million. She made her wealth through her various stints in the Oil & gas, real estate, banking, and communication industries.<\/div><\/div>\n

Talk about people with entrepreneurial spirits who run multi-million dollar conglomerates, then Hajia Bola Shagaya comes to mind. The successful Nigerian businesswoman has made a fortune for herself with a whopping net worth of $630 million, making her one of the richest women in Africa.\u00a0She is the founder and CEO of Bolmus Group International, a diversified Nigerian conglomerate with investments in many industries ranging from Oil & gas, real estate, banking, and communications.<\/p>\n

Hajia Bola began her career in the Central Bank of Nigeria (CBN), where she worked as an auditor. She is also a fashion enthusiast who grossly supports and encourages the fashion and arts industry. Hajia has a passion for trendy wear and loves to look good; this comes as no surprise that she was once the Fashion Designers Association of Nigeria (FADAN)’s patron. Let’s tell her success story.<\/p>\n

Hajia Bola Shagaya Started Her Career as an Auditor At the Central Bank of Nigeria (CBN)<\/strong><\/h2>\n

After graduating from Ahmadu Bello University, Zaria, Hajia proceeded to the United States, where she got a degree in Accountancy and Economics from Armstrong College in California. Straight out of college, she returned to Nigeria to get practical knowledge of what she studied. Thus, she started as a banker when she joined the Central Bank of Nigeria (CBN). There, she worked in the audit department before leaving in 1983 to venture into full-time entrepreneurship. Despite her time working at CBN, the amount she made as salaries have not been disclosed.<\/p>\n

Her First Business Venture Was Into Photographic Equipments<\/strong><\/h3>\n

With the wealth of knowledge she gathered from her role in the bank, Bola made her first step in the business world. She started by introducing to Nigerian and West African markets the Konica brand of photographic materials such as roll papers, films, and chemicals. The business was strictly based on importation and distribution, but she later got inspired to expand it to a different level to include photo laboratory services.<\/p>\n

Being a circumspective businesswoman, Bola saw that the business is massively growing in Nigerian markets and, in 1997, founded a Photo lab company called Fotofair (Nigeria) Limited. Fotofair is currently one of the leading photography laboratories in Nigeria, with over 30 branches spread across the country. It is located in Victoria Island, Lagos, and uses 100% Japanese technology under the Konica brand name. Bola makes a huge amount of money through this company. However, how much it has contributed to her net worth is yet to be disclosed.<\/p>\n

Her Oil And Gas Business Pulls The Biggest Strings<\/strong><\/h3>\n

As her photography business progresses, the Nigerian business mogul extended her feet to the Nigerian oil and gas sector. She founded Practoil limited, which is one of the largest importers and distributors of base oil in Nigeria today. The company has its lubricating plant in Kirikiri and produces multi-grade oils and lubricants that serve the needs of local lubricants blending plants.<\/p>\n

In 2011, Bola founded another oil and gas industry, Voyage Oil and Gas Limited. The voyage was officially launched in 2012 when it started operating as a Crude Oil trading and export company. Since its establishment, the company has been on the Nigerian National Petroleum Corporation (NNPC) crude oil term contract with an average production of 30,000 barrels of oil per day. It also has operated as dealers and independent marketers of oil, petroleum products, and gas. Currently, it engages in petroleum product sales, haulage, marketing, and storage, all of which have added greatly to her net worth.<\/p>\n

The Business Mogul is Into Real Estate<\/strong><\/h3>\n
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A post shared by Naija Party & Owanbe (@naijapartyowanbe)<\/a><\/p>\n<\/div>\n<\/blockquote>\n