Bola Shagaya: Giant Among Men

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By Eric Elezuo

She is beautiful, elegant, famous, enchanting and above all down to earth. She is a woman of means and is renowned for her extraordinary generosity. She is the quintessential Hajia Bola Shagaya.

Shagaya, unlike most prominent and wealthy industrialists, was not born with the proverbial silver spoon. Consequently, she had to pull herself up by her bootstraps and exert herself relentlessly through some difficult times on her way to arriving at the enviable height she now occupies. Her remarkable accomplishments have since earned her a pride of place at the table of royals and captured the attention of the influential Forbes magazine. She made the 10th wealthiest woman spot in Africa in a 2015 Forbes ranking.

The socialite, who turned 57 on October 10, was born in 1959 in Kwara State, her home town. She attended Queens School in Ilorin for her secondary education and the Ahmadu Bello University in Zaria and Armstrong College in California, where she studied Economics and Accountancy respectively. Shagaya also attended Harvard Business School and a number of other local and international seminars, workshops and symposiums where she sharpened her skills and gained all the cutting-edge knowledge that has kept her on top of her game.
Fresh out of school, a promising career took off with a stint at the Central Bank of Nigeria (CBN) where she worked with the Audit Department. Having acquired veritable experience from the CBN, she ventured into commercial activities in 1983, beginning with the importation and distribution of photographic materials under one of her incorporated companies called Bolmus. She is reputed to have introduced the Konica brand of photographic materials into the Nigerian market and West Africa.

She is also the owner of Fotofair Nigeria limited, and her photo laboratory unit in Victoria Island is no doubt one of the largest photo laboratories in Nigeria. The photo laboratory has a net base of over thirty branches located in different parts of the country and over 300 workers employed. A great feat!

Her prowess is not limited to the business of photographic materials alone, Hajia Bola Shagaya is also the Managing Director of Practoil Limited, one of the largest importers and distributors of base oil in Nigeria, serving local lubricant blending plants. Not only that, her extensive acumen in the world of buying and selling finds expression in huge investments in real estate, spanning major cities in the country with over 300 employees.

She is proactive and visionary, and so through her base oil importation, she is meeting the need of the local lubricant blending plants. At the moment, Practoil is building its own plant at Kirikiri, Lagos State. When completed, it is expected to produce multi-grade oils and lubricants.

An astute financial wizard, Mrs. Shagaya is on the board of Unity Bank (Nigeria) Plc (formerly Intercity Bank) and has been for about a decade. She is also a member of the recently inaugurated NEPAD Business Group, Nigeria.

She is a reputed fashionista, and her consistent display of an impeccable dress sense is a testimony to the assertion. It is therefore, not surprising that she is a patron of the Fashion Designers Association of Nigeria (FADAN) and a fashion and arts enthusiast who supports and encourages the fashion and arts industry. She also loves sports, especially polo. She is also hopelessly in love with exotic jewellery, especially diamonds, and Deola Sagoe, Folake Coker, Maureen Onigbanjo, Abba Folawiyo are just a few of her clothiers. Internationally, there are also Escada and Christian Lacroix.

In July 2010, she was conferred with the national honour of Member of the Order of the Niger (MON) by the then President of the Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan (GCFR).

A committed family woman; wife and mother, she is married to Alhaji Ganiyu Shagaya, a Kwara State-based transporter and their union is blessed with four children, among whom is Sheriff Shagaya, who got married in 2013.

 

Though a socialite who loves reveling, Mrs. Shagaya knows when to open the door and when to keep it closed. It was gathered from a recent interview that as a rule she doesn’t entertain friendly visitations, no matter how close, between Monday and Friday. Consequently, everything social revolves around the weekends when major work has been done. That accounts for her serious-mindedness, focus and hard work.

 

A friend of several Nigerian First Ladies, Mrs. Shagaya is known to have been close to virtually every recent First Lady in the Nigerian political system, especially Dame Patience Jonathan, with whom she forged a formidable relationship. It is believed that her amiable nature, down to earth attitude and uprightness always endear her to the hearts of those in the corridor of power.

A staunch Muslim, she believes that no matter what one becomes, God will always remain number one, and the revolving factor in her life. As a result, no matter where she is or what she’s doing, she makes it a duty to go to Mecca at least twice a year. She also creates time to observe her ‘Majrib’.

 

“That’s my only way to praise God”, she said.

 

The stupendously rich amazon has houses in London, Abuja, Lagos, Ilorin and so on, and goes to bed every day at 9pm after listening to the 8 O’clock news, and wakes up daily by 5am to pray.

 

Bola Shagaya is a crown jewel in the swelling ranks of African women who have demystified the stereotyped notion that the place of the woman is, and ends in the kitchen. In her continued display of business ingenuity, she has showcased the stuff women like her are made of while proving that females are capable of threading the paths that even some men would not dare venture.

 

Consequently, madam, for your dexterity, zeal and informed ability, we crown you the Boss of the Week. Congratulations!

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