Toba Owojaiye reporting
Abuja , Nigeria
Africa’s wealthiest woman, Folorunso Alakija’s company, FA Oil Limited, has secured exploration rights for six offshore oil blocks in Sierra Leone. The Government of Sierra Leone awarded these blocks, numbered 53, 54, 55, 71, 72, and 73, as announced in a public notice by Secretary to the President Julius F. Sandy on December 4, 2023. The License Agreement was officially signed in Freetown during a ceremony.
In a statement made available to Truth Live News, Julius F. Sandy highlighted, “FA. Oil Limited’s expression of interest reflects the investment community’s confidence in Sierra Leone under President Julius Maada Bio’s leadership.” The agreement signifies a new level of cooperation between Nigeria and Sierra Leone.
Apostle Folorunso Alakija, the CEO/Chairman of FA. Oil Limited, expressed gratitude for the opportunity to engage in Sierra Leone’s Oil and Gas landscape. She assured that the License Agreement would be mutually beneficial, marking a defining moment in Sierra Leone’s petroleum resource development.
The agreement aligns with Sierra Leone’s national transformation agenda, promising significant advancements. The government emphasized its commitment to bringing in the right players to foster progress. Overall, this development not only reinforces FA Oil Limited’s influence in the Gulf of Guinea but also signifies a strategic partnership contributing to Sierra Leone’s economic growth and energy sector development.