Biography
Chief Razak Akanni Okoya, born on January 12, 1940 in Lagos, Nigeria, is a self-made billionaire industrialist and an icon of business success.
Starting with just £70—£20 in savings and £50 borrowed from his mother—he began importing goods from Japan, a project that laid the foundations for Eleganza GroupToday, Eleganza is one of Nigeria’s largest conglomerates, producing a wide range of household goods and jewelry.
Razaq Okoya’s success extends beyond the industry. He has significant real estate investments, including Oluwa Ni Shola EstateHe is also known for his family life, notably his marriage to Shade Okoya, with whom he has four children.
Recognized with numerous titles, including Commander of the Order of the Niger (CON), Okoya has made significant contributions to society through his philanthropy, support of schools and health care facilities. A prominent figure in Yoruba culture, he is respected for his adherence to traditional customs, frequent participation in cultural events and respect for elders.
Nigerian Industrialist
Razaq Okoya |
|
|---|---|
 Razaq Okoya: History ‧ Biography ‧ Photos |
|
| Wiki Events & About Data | |
| Real name: | Razak Akanni Okoya |
| Stage name: | Razaq Okoya |
| Born: | January 12, 1940 (age 84) |
| Place of birth: | Lagos State, Nigeria |
| State of origin: | Lagos State |
| Nationality: | Nigerian |
| Education: | Ansar-un-deen Primary School |
| Height: | Do not have |
| Parents: | Tiamiyu Ayinde Okoya, Idiatu Okoya |
| Siblings: | Do not have |
| Couple: | Kuburat Olayinka Okoya, Shade Okoya (m. 1999) |
| Girlfriend • Partner: | Do not have |
| The children: | Tayo Okoya, Subomi Okoya, Jubril Okoya, Aminat Okoya, Subomi Okoya, Wahab Okoya, Olamide Okoya, Oyinlola Okoya, Rasheed Okoya |
| Job: | Businessman • Industrialist |
| Net worth: | 450 million dollars (USD) |
Early life and education
Razaq Okoya was born in Lagos, Nigeria, on January 12, 1940. He is a Yoruba Muslim with a strong Islamic background. His father, Tiamiyu Ayinde Okoya, was a tailor whose business provided the initial foundation for Razaq’s entrepreneurial spirit.
His mother, Idiatu Okoya, provided him with additional funds to support his early business ventures. Although information about his siblings is not widely documented, he came from a family that valued tradition and business values.
Razaq Okoya’s formal education was quite modest, he attended Ansar-un-deen Primary School in Lagos. However, his real education came from working in his father’s tailoring business. This practical experience taught him the value of hard work, commerce and customer service, which would later prove invaluable in his business ventures.
From these humble beginnings, Razaq Okoya learned the basics of business, starting with tailoring and eventually expanding into import and manufacturing, laying the foundations for his future empire.
Career
Razaq Okoya, born on January 12, 1940 in Lagos, is the embodiment of entrepreneurship and industrial innovation in Nigeria. Starting as an apprentice tailor, Okoya’s rise to become a billionaire industrialist and Aare of Lagos is a testament to his vision, hard work and business acumen.
Initially working in his father’s tailor shop, Okoya acquired the basic business skills that would later fuel his entrepreneurial ventures. With his savings of £20 and an additional £50 from his mother, he began importing goods from Japan, seizing the opportunity to address the problem of high prices in Nigeria despite the availability of raw materials locally.
Razaq Okoya was founded Eleganza Groupinitially focused on jewelry and expanded into manufacturing household goods, cosmetics, etc. Today, the company is one of Nigeria’s largest conglomerates, operating over six factories across West Africa. His investments also extend into real estate through RAO Real Estate Investment Companydevelop luxury real estate areas such as “Oluwa ni Shola.”
Okoya’s commitment to philanthropy is evident in his support of schools and health care facilities. His achievements have earned him numerous awards, including the ThisDay Newspapers Business Entrepreneur Lifetime Achievement Award, presented by former US President Bill Clinton, and the Order of the Niger (CON) from the Nigerian government.
A staunch adherent of Yoruba cultural norms, Razaq Okoya actively participates in traditional events and often shows respect for elders. His personal life, particularly his marriage to Shade Okoya and their four children, reflects a blend of traditional values with modern family dynamics.
Personal life
Razaq Okoya has been married several times, one of his notable marriages being to Shade Okoya. Shade, born on April 25, 1977, married Razaq Okoya at the age of 21 when he was 59. Their marriage was praised for its longevity, lasting for over 25 years.
Shade Okoya is not only his wife but also plays an important role in the family business, holding the position of CEO/General Director of Eleganza Groupshows she is a real businesswoman.
Razaq Okoya had several marriages throughout his life, with one of his older wives, Kuburat Olayinka Okoya, being married to him for over 50 years. This reflects his traditional approach to family, where multiple marriages were not uncommon in his cultural context.
From these marriages, Razaq Okoya had numerous children. Notable ones include Tayo Okoya, Subomi Okoya, Jubril Okoya, Aminat Okoya, Wahab Okoya, Olamide Okoya, Oyinlola Okoya and Rasheed Okoya, although the number of children from all his marriages is significantly higher, with reports suggesting as many as 31 children.
Razaq Okoya’s adherence to Yoruba cultural norms, such as bowing to elders, reflects his deep respect for tradition, which has been highlighted in social media posts that demonstrate his cultural values.
Folashade Okoya’s role was more than just that of a wife; she was described as an effective manager of both Okoya’s business and the family, which was praised by her stepchildren and many others.
Net worth
Razaq Okoya, a Nigerian industrialist billionaire and Aare of Lagos, has amassed a significant fortune through his Eleganza Group, which includes manufacturing, real estate and other ventures.
While exact figures may vary, social media reports put Razaq’s net worth at around $450 million.
His wealth comes from a variety of businesses, including Eleganza homeware and jewelry manufacturing and notable real estate investments, such as the luxury estate “Oluwa ni Shola”.
