Aare Rasaq Okoya: Nigerian Tailor Turned Multi-Billionaire Industrialist at 83

by Duchess Magazine

Chief Razaq Akanni Okoya was born in Lagos on January 12, 1940 to Mr Tiamiyu Ayinde Okoya.

Chief Okoya is the Aare of Lagos and a multi-billionaire industrialist. He is the owner and founder of the Eleganza group of businesses.

His only official education was at Oke Popo’s Ansar-Un-Deen Primary School. He was employed by his father’s tailor shop, which also sold equipment for making clothes. After some time, he started doing tailoring work on his own. He eventually began importing and trading things from Japan using his funds and his parent’s assistance.

Razak Okoya’s company grew and he began to travel widely, learning how things were made because he was convinced that Nigeria could produce goods of an equal or even higher standard.

Eleganza Industries currently produces a wide range of household goods and utensils such as cutlery, coal mines, food warmers, ice chests, electric fans, cosmetics, and ballpoint pens under Aare Okoya’s Chairmanship.

The company currently directly employs approximately 5,000 Nigerians and non-Nigerians, including those who work for his RAO Property Investment Company, in its factories in Oregun-Ikeja, Isolo, Alaba, and Iganmu. With more than six factories, Okoya’s Eleganza Group is one of the largest indigenous conglomerates in Nigeria today. Its products are well-known in Nigeria’s neighboring African markets.

He received the Thisday Newspapers Lifetime Achievement Award for Business Entrepreneur of Our Time.

On 12th January 2023, Aare Okoya climbed the 83rd ladder majestically, amidst celebration with family and friends.

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