Razaq Okoya is a Nigerian billionaire businessman and the founder of Eleganza Group, a leading manufacturing company. He built his wealth through hard work and smart investments. Okoya is known for producing household goods, fashion items, and industrial products, making him one of Nigeria’s top entrepreneurs.
| Common Name | Razaq Okoya (Eleganza Okoya) |
| Full Name | Chief Razaq Akanni Okoya |
| Age | 85 years old (as of 2025) |
| Date of Birth | January 12, 1940 |
| Gender | Male |
| Occupation | Businessman, Industrialist |
| Marital Status | Married |
| Religion | Islam |
| Ethnicity | Yoruba |
| State of Origion | Lagos |
| Nationality | Nigerian |
| Net Worth | $1.3 billion |
Table of Contents
Razaq Okoya Biography
Razaq Akanni Okoya, CON, was born on January 12, 1940, in Lagos, Nigeria. He is a renowned billionaire industrialist and the Aare of Lagos. Okoya is best known as the founder of Eleganza Group, one of Nigeria’s largest manufacturing conglomerates. His entrepreneurial journey began at an early age, leading him to build a vast business empire spanning multiple industries.
Razaq Okoya Educational Background
Okoya’s only formal education was at Ansar-Ud-Deen Primary School in Oke Popo, Lagos. Despite not furthering his education, his business acumen and determination helped him achieve remarkable success in the manufacturing and real estate sectors. His early exposure to business came from working in his father’s tailoring shop, where he learned key entrepreneurial skills.
Razaq Okoya Career
Razaq Okoya started his business with just £20, which he saved from his tailoring work. With additional financial support from his mother, he ventured into trading by importing goods from Japan. His ability to identify market demands and act swiftly led to the rapid growth of his business.
Over time, he transitioned from trading to manufacturing, focusing on household products, fashion accessories, and real estate. His determination to reduce Nigeria’s reliance on imported goods led him to establish local production facilities that manufacture jewelry, shoes, plastics, and other consumer goods. Today, his companies employ thousands of Nigerians.
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Eleganza Group
Eleganza Group, founded by Razaq Okoya, is one of Nigeria’s most successful manufacturing companies. The company produces a wide range of items, including:
- Plastic household items
- Jewelry
- Coolers and chairs
- Cutlery and electric fans
- Soaps and weave-on hair extensions
The company has several large factories across Lagos, supplying high-quality goods to Nigerian and West African markets. His youngest wife, Shade Okoya, now serves as the Managing Director/CEO, while he remains the Chairman of the group.
Razaq Okoya Investments
Beyond manufacturing, Okoya is a major player in Nigeria’s real estate industry through his company, RAO Property Investment. His real estate portfolio includes luxury residential and commercial properties in Lagos, notably the famous Oluwa Ni Shola Estate on Lekki-Ajah Expressway.
Razaq Okoya Awards
Razaq Okoya has received numerous awards for his contributions to industry and society. He holds the national honor of Commander of the Order of the Niger (CON) and has been recognized by several business and trade organizations for his impact on Nigeria’s economy.
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Razaq Okoya Age
Razaq Okoya was born on January 12, 1940. He is 85 years old as of 2025.
Razaq Okoya Personal Life
Razaq Okoya has been married multiple times and has many children. His marriages have produced successful individuals who continue to uphold the family’s business legacy.
Razaq Okoya Wife
His most notable wives include:
- Alhaja Kuburat Okoya, his senior wife, with whom he has been married for over 50 years.
- Dr. Shade Okoya, his youngest wife and the CEO of Eleganza Group. She is known for her business acumen and support in expanding the family’s enterprise.
Razaq Okoya Children
Razaq Okoya has several children, including Wahab Okoya and Olori Moji Tejuosho, the wife of Omoba Lanre Tejuosho. His children are involved in various businesses and continue to expand the family’s legacy, ensuring that the Okoya name remains influential in Nigeria’s business world.
Razaq Okoya’s family
Razaq Okoya’s family is one of the richest in Nigeria, known for their immense wealth and influence. They own numerous luxury properties, expensive cars, and a thriving business empire. Their company, Eleganza Group, plays a major role in their success, making them one of the most powerful and respected families in the country.
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Razaq Okoya Cars
As a billionaire, Okoya owns a collection of luxury cars, including top brands like Rolls-Royce, Bentley, and Mercedes-Benz. His fleet reflects his taste for elegance and quality.
Razaq Okoya House
Razaq Okoya resides in the magnificent Oluwa Ni Shola Estate on Lekki-Ajah Expressway, Lagos. The estate features:
- Expansive gardens
- Swimming pools
- Tennis courts
- A billiard room
- Central air-conditioning
- Uninterrupted power and water supply
- Expensive sculptures and exquisite interior designs
Razaq Okoya Net Worth
Razaq Okoya has an estimated net worth of about $1.3 billion as of 2025. His wealth comes from his successful Eleganza Group, which produces household items, industrial goods, and fashion accessories. Over the years, his investments and business empire have contributed significantly to his fortune.
Razaq Okoya Social Media Handles
Razaq Okoya maintains a low profile on social media, with most updates about him coming through his business ventures and public appearances. However, Eleganza Group has an active presence online for business-related inquiries and promotions.
- Instagram: @eleganzaindustrialcityltd
- LinkedIn: Eleganza Industries Limited.
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