Hajia Bola Shagaya: The Founder and CEO of Bolmus Group International

Hajia Bola Shagaya is one of the richest women in Africa with a networth over $650 million.

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Hajia Bola Shagaya is a Nigerian entrepreneur and visionary leader whose journey serves as a testament to the transformative power of business acumen. She is the founder and CEO of Bolmus Group International, a conglomerate with interests in real estate, oil and gas, banking, and photography. Hajia Bola Shagaya is one of the richest women in Africa with a net-worth over $650 million. Let’s delve into the remarkable story of a true icon in African entrepreneurship.

Background and Early life

Born on October 10, 1959, into a middle-class family in Ilorin, Nigeria, Hajia Bola Shagaya’s parents, Adut Makur, a Sudanese seamstress, and Emenike Mobo, a Nigerian Public Servant, laid the foundation for her journey. She attended Queens School, Ilorin, for her secondary education and continued to Ahmadu Bello University, Zaria, where she pursued economics and accountancy. Hajia Bola Shagaya’s quest for knowledge took her to Armstrong College in California, where she studied accountancy, and later, she enhanced her education with a stint at Harvard Business School. She is presently married to Alhaji Shagaya, a transport mogul based in Kwara State, and is a mother to six children. Hajia Bola Shagaya forged an extraordinary career in the business world, reshaping industries and inspiring generations.

Pioneering Paths in Business

Hajia Bola Shagaya’s journey began in the audit department of the Central Bank of Nigeria, but she soon ventured into commercial activities in 1983. Her entrepreneurial spirit soared when she entered the importation and distribution of photographic materials, introducing the Konica brand to the Nigerian and West African markets. Hajia Bola Shagaya’s expertise expanded, leading to the establishment of photo laboratories and her first company, Fotofair Nigeria Limited, in 1997, which became a resounding success. This success propelled her further into the oil and gas industry, leading to the founding of Voyage Oil and Gas in 2011, which began operations in 2012, and is now one of Nigeria’s leading oil giants.
Beyond her accomplishments in these sectors, Shagaya also holds significant interests and investments in Nigeria’s real estate industry. She owns luxurious residential properties across major cities in Nigeria, providing employment opportunities to over 300 employees.

Her Achievements


Bola Shagaya’s leadership qualities and contributions to economic growth have earned her national recognition on multiple occasions. In 2010, she received the National Productivity Order of Merit award, and in 2012, she was honored with the Nigerian merit award of Member of the Order of the Niger (MON). The Order of the Niger is a prestigious honor of merit awarded to the president and vice-president respectively. Shagaya was also a recipient of the Award for Excellence at the Day Annual Awards in 2012. Forbes recognized her by listing her among the “Ten Millionaires to Watch in Africa” in 2012.
Hajia Bola Shagaya has served on numerous boards. She spent about eight years on the board of Intercity Bank (now Unity Bank Plc), holding various positions, including Chairman of the bank’s establishment committee and Chairman of the Audit committee, among others. She also served as Chairman of the Committee on Economy, Trade, and Investment at the 2014 national conference. Additionally, Hajia Bola Shagaya is a member of The New Partnership for Africa’s Development (NEPAD) business group in Nigeria, a platform for economic growth through private and public collaboration and communication.
She is a patron of the Fashion Designers Association of Nigeria (FADAN) and a devoted supporter of the fashion and art industry. Her love for sports, particularly polo, is well-known, and she has actively supported polo tournaments for charitable causes in Nigeria over the years.

Legacy and Influence

Hajia Bola Shagaya’s influence transcends local boundaries. She forged international partnerships and networks, and her business acumen extended to empowering local communities and fostering economic growth.
Her story is a reminder to everyone that success is a possibility and a reality for everyone, not just for politicians or the wealthy, but for people like you and I.

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