OPRAH DETHRONED AS RICHEST BLACK WOMAN

Oprah Winfery has been holding down that title for a while but i bet the world did not expect a Nigerian woman to dethrone her! Now brace yourself this story is absolutely true:

Meet Folorunsho Alakija, a Nigerian billionaire oil tycoon, Fashion designer and philanthropist who is worth at least $3.3 billion- contrary to a recent Forbes Magazine ranking which pegs her net worth at only $600 million. Alakija, 61, was born into a wealthy, polygamous Nigerian family. She started out her professional career in the mid 70s as a secretary at the now defunct International Merchant Bank of Nigeria, one of the country’s earliest investment banks. In the early 80s, Alakija quit her job and went on to study Fashion design in England, returning to Nigeria shortly afterwards to start Supreme Stitches, a premium Nigerian fashion label which catered exclusively to upscale clientele.

The business thrived, and Alakija quickly made a tidy fortune selling high-end Nigerian clothing to fashionable wives of military bigwigs and society women.

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. (Read about Famfa’s victory here).

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). The government’s argument at the Supreme Court can be found through this link, (item number 23).

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. See media coverage here and here 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.

Culled from pm news

DESIGNER VJAY!

Plastic surgeons have been making a killing on designer vaginas. What exactly is a designer vagina? Well, therein lies the problem. No one really knows, and if you try looking it up on a plastic surgeon’s site, chances are whatever answer you get is going to be really vague and confusing.

A lot of plastic surgeons offer procedures like labioplasty, which makes your labia smaller or different from their natural state–like a nose job, but for your privates. Others offer G-spot enhancement, which is sort of horrifying, because there’s very little evidence to show that it actually does anything, and because it’s surgery inside your vag. Other sexist services include “hymen rejuvenation,” so you can “bleed on your wedding night and keep your head high.
I though really can't understand what is with the obsession with hymens? I am of the opinion that you don't try to fix what has been broken an in that i mean your virginity!! If the brother can't handle that he isn't the first man to visit your sacred chambers then girl onto the next one lol! Seriously though designer vjay's smh what will man think of next?!

WHAT YOUR SLEEPING POSITION SAYS ABOUT YOU

 I have been on some kind of hiatus and that's basically because I traveled to Lagos and now I'm back and i missed blogging so here's my latest offering I hope you enjoy this article!

Here’s a new question for you ask on your next date: So…what position do you sleep in? A new study found that sleeping positions affect personality by determining how we feel when we wake up. People who sleep on their backs with arms stretched out in front typically wake up feeling refreshed and eager to start their day. Sleeping face down with arms outstretched indicates a feeling of being “out of control” and leaves these people feeling tired with no energy. Those who sleep with a straight body are stubborn, and will feel stiff in the morning. And the most popular sleeping style? The fetal position. 58 percent of people sleep on their side with their knees up and head down– which is no surprise considering it is associated with stress.  These people can expect to awake refreshed, having dealt with the previous days issues. I’m pretty sure I hit all of those positions at some point throughout the night. :)

So discover yourself with this survey and thank me later lolz.

CHEATING SHOULD BE LEGAL?

Below is what the rapper said during a radio interview to promote his upcoming reality show - Marrying The Game

Cheating should be legalized. It would make it easier for women. The truth is every man cheats. Fat men, skinny men, basketball player, guy who can’t play, nerds, smart guy, it doesn’t matter. A woman is better off assuming exactly what I said. You’ll be better off that way. 

Then he adds

But I would never understand if a woman cheats. You know the balance. It would be over with. That’s how it goes. 

The Game said on a radio show some days back. And he's engaged to be married! I'm gonna say this is just sad, but if you reason in this line as well let me know why.

SIGNS SHE'S CHEATING

Have you ever suspected your girlfriend to be cheating on you at one point in your relationship? The thought of having a cheating girlfriend is a concern that haunts many guys in relationships. Women can be just as unfaithful as men, so if you think that your girlfriend is doing something unusual, try looking at these 5 signs on how to tell if she is cheating on you.


1. She's engages in secretive behavior 
Do you find strange numbers on her cell phone? Does she receive strange phone calls that are always "the wrong number?" Does she suddenly keep getting called into work at odd hours and often has to be away on business? If your answer is yes to these, then consider them as indicators that something is really going on. Other examples of secretive behaviors that indicate your girlfriend may be cheating are things like her no longer sharing her daily events with you, her suddenly deleting text messages from her cell phone and coming home with her hair messy, make-up smeared and clothes wrinkled followed by pausing and looking away when you ask where she's been.

2. Sudden changes in her appearance
Although there are girls who suddenly become interested with clothes, if you notice a sudden change in your girlfriend's appearance, e.g., a drastically different hair style or a sudden desire to lose weight and get in shape or a sudden need to buy new, sexier items of clothing, the reason behind it could be to create a new look and feel more attractive to the man she is seeing behind your back.

3. She shows loss of interest 
When she is with you, does it appear her thoughts are on someone else? Does she avoid talking to about the future of your relationship. Does she keep forgetting important dates, or other things about your relationship, that she used to think were "important" to both of you? The reason for this lapse in memory could be due to the fact she already has that someone else on her mind. If she used to be needy of your attention but suddenly doesn't need your company, constantly discusses some guy she works with or met endlessly with admiration and begins avoiding you, your calls, your texts, etc... there's a good chance your girlfriend is cheating.

4. She checks out other guys in public 
Cheating girlfriends sometimes tend to flirt excessively with other men. Girls will typically only check out other guys for fun or to test you; however, if your girl has never been a “flirt” before, and now she suddenly is on a constant basis, it may be a bad sign for your relationship. If you notice your girlfriend openly checking out other guys and keeping deep eye contact with them while you're right there beside her, it could be her way of sending you a subtle message that she might actually be shopping around for another man.

5. Physical contact with you decreases 
This one should be obvious. If a woman isn't sleeping with you, in all likelihood, she's sleeping with someone else. So if your girlfriend begins rejecting your advances or moves away from you when you initiate physical contact regularly without an obvious reason , this is one of the major

So fellas if she exhibits these traits its time to move on, no hard feelings . A wise man once said it's better to have a broken relationship than a broken marriage, think about-oh and ya'll are welcome *winks*

TOASTING SKILLS FOR WOMEN

Who says you have to wait, batting your eyelashes and hoping that handsome guy will introduce himself? Take life by the horns and pick that man up! but make sure he's single first. Now the worst place to pick up anyone guys/girls alike is at a bar. Because when you pick up someone at a bar you're only talking to the alcohol and not the real person. If you really have given up on meeting people the old fashion way you might want to refer to the electronic way and I'm not talking about Facebook, here are those special tips on how
to pick up that man *winks*

1) Pick a good spot.: Choose a place you would much rather want to meet a man. Places like the cinema's, super market, sports bar...the list is endless.

2) Flirt from a distance:. Make eye contact, smile, and look approachable. Make sure that your body language is open and that you look approachable. "More than 50 percent of all communication is done via body language and gestures," explains body-language expert Janine Driver says. A good way to open your body language is to lean on something. Make sure that your feet are pointed at who you are trying to approach. Don't cross your arms or your legs. This closes you off and makes you look unapproachable.

3) Start a conversation. You may skip it if you are terrified by the thought of starting a conversation with a stranger (a good-looking guy, no less). But if you skip this step, you are depriving yourself of a valuable screening tool. What if this guy is a total weirdo? Or just too dull, too quiet, too loud, too macho, too meek, or just not your type? Besides, you're going to have to talk to him at some point, anyway. It's better to find out now that he has horrific breath, or that he can't stop talking about his mother or ex-girlfriend, rather than make the discovery on your first date, when your escape route will be a little narrower

4) Close the deal. Alright:. Now it's time to get his phone number! If you had been successful is making a conversation with him, you can say something like, "You're fascinating! I like talking to you. Can I call you sometime?" You could even go a step forward and ask him out on a date instead.

5) If you can't get a conversation going (like, if you are too nervous), then you must take the direct route. You are going to cut through the steps of saying hi, doing introductions, and talking about the weather, before asking him for his phone number. You are just going to ask him for him phone number. This might call for a pickup line. We women have been subject to all kinds of lame and even rude pick up lines, and they can be upsetting. So, avoid saying anything questionable. Otherwise, you'll look like a fool and he'll refuse (or just brush you off). However, don't be put off if you can't think of something clever or funny. Even a lame pick up line can be endearing if you LOOK attractive and SMILE. You can just say, "I like your shirt. Can I have your number?"Smiling, being friendly and staying on top of personal health and hygiene is all you need to always be prepared to pick up men.

6) There is one last way. Right before you leave, give him your contact info, and walk away. The "hit and run" approach is highly recommended. It doesn't give him a chance to reject you on the spot, which makes things easier on you, obviously. It also gives him time to digest what just happened, which may not happen to him often. If you skipped the conversation step, or even if you didn't, you may want to give him only a personal e-mail address rather than a phone number, in case he turns out to be the creepy stalker type.

•     If he's been checking you out the whole time, be bold. Go up to him and ask, "So when are you gonna take me out?" or, "Here's my number, in case you want to take me out sometime

GO FIGURE S/A RANKED 9TH FRIENDLIEST NATION IN THE WORLD

Here I was thinking of what to blog about when I happened upon this story. Forbes, yes the very same Forbes that have carved a niche for themselves involving money and moneymaking personalities carried out a survey on friendly nations in the world. The survey brings out a list of top 10 countries,the criteria they used to gauge these countries and of course the friendly nations themselves. I will swiftly put you out of your misery and inform you now that Nigeria didn't make the cut but I seriously wonder how many of you are surprised. Happy reading: HSBC surveyed 5,339 expatriates in nearly 100 countries between May and July 2012. Respondents rated their host countries on a slew of factors related to economics, raising children and overall experience. (Because countries with fewer than 30 respondents were deemed statistically insignificant, its final rankings include only 30 countries.)

To determine which were the friendliest, Forbes isolated the results in four categories: ability to befriend locals, success in learning the local language, capacity for integrating themselves into the community, and ease in which they fit into the new culture.

1. Cayman Islands: The Cayman Islands scored well in all those categories, putting it first on our list of the Friendliest Countries. Seventy-five percent of expat respondents living there reported that they were integrating well in the local community.

2. Australia: Expats living Down Under had much to praise about their new country—from the pleasant climate and easy social integration to friendly locals (including at work, where 73% said they felt welcome) and a better work-life balance than in their previous country.

3. United Kingdom: Despite low economic confidence among expats here, 71% are looking to settle here long term, with the same percentage agreeing they have integrated well into the local community

4. Canada: This country ranked as the top destination for raising children in this year’s survey, but also received top scores for its friendliness of locals (praised by 62%) and social integration (felt by 70%).

5. New Zealand: Though it’s fallen from its top spot in last year’s list of friendliest countries, this country still gets high marks for its work culture, friendliness, weather and ability to organize local finance

6. Spain: Despite 92% of expats in Spain being troubled by the economy, none are actively seeking relocation, and 71% say they have actively tried learning the local language (a key factor to integration), while 71% say their diet has improved since settling here.

7. United States: Since their relocation here, 63% of expats feel their quality of life has improved. In addition, 57% appreciated the climate and scenery, 49% said they found it easy to make friends and 74% say they’d like to stay here for good.

8. Bermuda: This country scored particularly well on quality-of-life issues, such as the ability to have a high disposable income, or to own a boat or yacht, as well as great weather and easy commutes

9. South Africa: Ranking ninth overall out of 30 countries, South Africa gets praised by expats in a range of areas: great work-life balance, ease in organizing accommodation and healthcare, great weather and the ability to integrate well into the culture (as agreed upon by 67%).

10. Malaysia: Better quality of life, a satisfying social life, easy local travel and better housing than in their home country helped put Malaysia in fifth place overall—though many reported difficulty integrating into the local community (often because of a language barrier)

With all said and done we have only one African country in the list and left to me South Africa shouldn't even be on this continent they are way way ahead of every other nation in Africa. Thoughts anyone?