Folorunsho Alakija did not study Geology.
She started as a Secretary. Then she became a Fashion Designer.
Yet, she beat the global oil giants at their own game.
Most people think she just "got lucky" with an oil license.
But the truth is, she used a strategy called The "Rejected Stone" Advantage.
Here is what happened:
In the 90s, she applied for an oil license.
The powers that be gave her OPL 216.
They didn't give her this block because they liked her.
They gave it to her because nobody else wanted it.
It was "Deep Offshore" (Deep Water).
At that time, the technology to drill that deep was expensive and risky.
The big companies (Shell, Mobil) wanted the easy, shallow water.
They thought they gave her a "useless" paper.
She saw a "Golden Ticket."
She knew she didn't have the billions to drill.
But she had the Rights.
She approached Texaco (now Chevron).
She told them: "I have the access. You have the technology. Let's work."
She didn't try to dig with her hands. She used her "Paper" as equity to attract a giant.
This is the most important lesson.
When they finally struck oil (the massive Agbami Field), the Government was shocked at the volume.
They got jealous.
The Government tried to use a decree to forcefully take back 50% of her stake.
Most people would have bowed to the Federal Government out of fear.
Alakija sued them.
She fought the Federal Government in court for 12 years.
She refused to settle. She refused to be bullied.
Eventually, the Supreme Court ruled in her favor, restoring her full stake.
Why am I telling you this?
Don't despise the "Hard" road:
Just because an opportunity looks difficult (Deep Water) doesn't mean it's bad.
That is often where the biggest treasure is hidden.
Defend your Value: In business, creating wealth is one thing.
Keeping it is the real war.
You must have the audacity to fight for what is yours, even if you are fighting a Giant.
She went from sewing clothes to owning one of the most prolific oil blocks in Africa.
Not by luck. But by Grit.
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