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WINNING: Folorunsho Alakija

NIGERIAN OIL mogul Folorunsho Alakija has reportedly replaced Oprah Winfrey as the richest black woman in the world, with an estimated fortune of $3.3 billion.

According to Ventures Africa Online the 61-year-old is co-founder of Famfa Oil which 'produces 200,000 barrels of oil per day'.

Media mogul Oprah is said to be worth $2.7 million, $500 million less than the married mother-of-two.

The net worth is contrary to the Forbes Magazine ranking which claimed that the former fashion and design student in the UK has a fortune $600 million.

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

She was said to have recently purchased an $102 million property at London's Hyde Park area, as well as a $46 million Bombardier Global Express 6000 jet.