Chief Razaq Akanni Okoya is a Nigerian industrialist, businessman and philanthropist best known as the founder and chairman of the Eleganza Group of Companies. He is also associated with RAO Property Investment Company and holds the traditional title of Aare of Lagos.
Born on 12 January 1940 in Lagos, Nigeria, Okoya began his working life in his father’s tailoring business before venturing into independent trading. With modest savings and financial support from his mother, he entered the importation and distribution business, eventually building the foundation of what would become one of Nigeria’s notable indigenous business groups.
His story is one of self-made entrepreneurship, beginning with tailoring and small-scale trading before expanding into industrial manufacturing, property and other business interests.
Early Life and Family Background
Razaq Akanni Okoya was born into the family of Tiamiyu Ayinde Okoya and Idiatu Okoya in Lagos.
He is of Yoruba heritage and grew up in southwestern Nigeria. His early exposure to business came through his family, particularly his father’s tailoring enterprise, where clothing and tailoring accessories were sold.
Okoya’s formal education was limited. He attended Ansar-Un-Deen Primary School in Oke Popo, which, according to the supplied source, was his only formal schooling.
Although he did not pursue higher education, his early practical experience in his father’s business introduced him to trading, customer relations and the fundamentals of running a commercial enterprise.
From Tailoring to Entrepreneurship
Working in his father’s tailoring business became an important foundation for Okoya’s entrepreneurial journey.
The experience gave him the confidence to eventually establish tailoring activities of his own. He reportedly saved the money he earned from his work until he had accumulated £20.
His mother subsequently provided another £50, while his father gave him his blessing to pursue his own business.
With this modest financial foundation, Okoya entered the importation and trading business, sourcing goods from Japan.
What began as a small trading operation eventually developed into a much larger industrial enterprise.
Building the Eleganza Group
Okoya went on to establish the Eleganza Group of Companies, transforming his early experience as a trader into a broader industrial business.
The company became the centrepiece of his commercial career and established him as one of Nigeria’s prominent indigenous industrialists.
Through Eleganza, Okoya became associated with manufacturing and consumer products, building a business organisation that reflected his long-term ambition to develop locally based commercial and industrial enterprises.
His success also helped establish his reputation as an entrepreneur who built his business from relatively modest beginnings rather than inheriting a large industrial empire.
A Business Career Built on Self-Reliance
One of the defining features of Okoya’s story is the contrast between his limited formal education and the scale of the business empire he eventually created.
His entrepreneurial education came largely through practical experience. Working in his father’s tailoring business exposed him to commerce, while his early trading activities taught him how to source products, manage transactions and build relationships with customers.
The transition from tailoring and trading to industrial business demonstrated his ability to identify opportunities and reinvest in his ventures.
Over the decades, the Eleganza name became closely associated with Okoya’s identity as a businessman and industrialist.
Property and Business Interests
In addition to Eleganza, Okoya is associated with the RAO Property Investment Company.
His property interests include the large Oluwa ni Shola estate located along the Lekki/Ajah Expressway in Lagos, which has served as his principal residence.
The estate has been described as an expatriate-oriented residential development because of the number of expatriates living there. The supplied source also describes the property as having reliable electricity and water supplies, alongside various amenities and decorative features.
The estate has attracted public attention beyond its role as Okoya’s residence and has also featured in Nigerian popular culture.
According to the supplied source, the music video for D’Banj’s “Suddenly” was filmed at the Oluwa ni Shola estate.
Family and Personal Life
Razaq Okoya has been married to Alhaja Kuburat Okoya and Dr. Shade Okoya.
He has several children, including Tayo Okoya, Jubril Okoya, Aminat Okoya, Subomi Okoya, Wahab Okoya, Olamide Okoya and Oyinlola Okoya.
His family has maintained a visible presence in Nigerian business and social circles, with members of the family becoming associated with the Okoya business legacy.
Okoya’s sister is identified in the supplied material as Wosilat Okoya.
A Prominent Lagos Industrialist
Okoya’s career has made him a notable figure in Lagos’ business history.
His rise from working in a family tailoring business to becoming the founder of a major industrial group reflects the entrepreneurial culture that has characterised Lagos and southwestern Nigeria for generations.
His traditional title as Aare of Lagos further reflects his standing within the city’s social and traditional establishment.
For decades, he has remained associated with indigenous entrepreneurship, manufacturing and private-sector development.
Razaq Okoya’s Legacy
Razaq Okoya’s story is fundamentally one of entrepreneurial transformation.
He began with practical training in tailoring, saved a small amount of money, received additional support from his mother and obtained his father’s blessing to venture into business. He then moved into Japanese imports and trading before eventually establishing the Eleganza Group.
His journey illustrates how commercial experience, persistence and reinvestment can transform a modest beginning into a substantial business enterprise.
Today, the Eleganza Group remains the most prominent part of the business legacy associated with his name, while his property interests and long-standing position in Lagos’ business community have further strengthened his profile.
From a young man working in his father’s tailoring business to one of Nigeria’s best-known industrialists, Razaq Okoya’s career stands as a notable story of indigenous entrepreneurship and self-made success.
Editorial Note
This biography is based strictly on the supplied source material. The source contains limited information about the specific products, subsidiaries, financial performance and current operations of the Eleganza Group. Those details should be independently verified before being added to a published biography.