Nigerian Entrepreneurs

Full Name: Razak Akanni Okoya (CON)
Date of Birth: 12 January 1940.
Place of Birth: Lagos, Nigeria.
Nationality: Nigerian
Marriage status: Married.
Spouse(s): Kuburat Okoya, Ajoke Okoya, Sade Okoya.
Occupation: Entrepreneur and Billionaire Industrialist, chairman Eleganza Group of Companies and RAO Property Investment Company.
Residence: Lagos, Nigeria
Language: Yoruba and English
Religion: Islam


EARLY LIFE

Razak Akanni Okoya is a billionaire industrialist and Aare of Lagos, a Yoruba man from the south-western part of Nigeria born on the 12th of January 1940 to Tiamiyu Ayinde and Alhajha Idiatu Okoya.
He had his only formal education at Ansar-un-deen primary School, Oke popo, Lagos.

He worked with his father’s tailoring business which also included the sales of tailoring accessories. The experience he got gave him the confidence to start mini tailoring activities on his own. He saved every penny he made until he had 20 pounds. His mother gave him the extra 50 pounds, with the blessings of his father, he needed to start importing and trading goods from Japan.

Razak Okoya’s business expanded swiftly, he traveled far and wide and learnt how things were manufactured having the strong feeling that Nigeria could match that quality if not better.

His first wife, Kuburat Okoya, was obsessed with costly jewelry and he was always baffled at how much she said they cost. He strongly felt the prices were outrageous since the metals could be designed at a cheaper price and the metals were readily available in Nigeria. Challenged his perceived healthy demand, he traveled abroad, bought the machines. That marked the birth of Eleganza Jewelry.
The success was phenomenal. They could not keep up with the demand because, the products were beautiful, durable and cheap. They were instant best sellers. He also started manufacturing buttons and jewelry.

He began the importation of shoes in large quantities, subsequently. On one of these occasions, the shoes were not delivered despite his payment. He traveled to Italy to see the manufacturer only to discover that they had used his money to settle their bills. He was so angry that he decided there and then to start manufacturing his own shoes. He imported all the machines and brought in some experts who trained his workers.

The Eleganza Industries produces a wide range of household goods and utensils including cutlery, collieries, food warmers, ice chest, electric fan, cosmetics and ballpoint pen. His factory locations include, Oregun-Ikeja, Isolo, Alaba and Iganmu, the Company now directly employs over five thousand Nigerians and non-Nigerians including those working in his RAO Property Investment Company.

Okoya’s Eleganza Group is one of the biggest homegrown conglomerates in Nigeria today, with over six factories, and its products are household names in Nigeria and the neighboring African markets.
He was awarded the Lifetime Achievement Award as Business Entrepreneur of Our Time from Thisday Newspapers.