Meet Razaq Okoya Who Rose From Common Tailor to Billionaire Industrialist
Chief Razaq Akanni Okoya is a towering figure of success in Nigeria's economic landscape. As the Eleganza Group of Company's Chairman, he has etched an indelible mark in the business world, transforming challenges into opportunities and emerging as a beacon of entrepreneurial triumph.
Chief Okoya's journey from humble beginnings to becoming a billionaire is a testament to his unwavering vision, strategic insight, and relentless perseverance.
Source: UGC
Early life in father's tailoring workshop
Chief Razaq Akanni Okoya's story begins in Lagos, Nigeria, where he was born on January 12, 1940, into the family of Tiamiyu Ayinde and Idiatu Okoy.
Razaq's formal education was limited, with his sole academic experience being at Ansar-un-deen Primary School in Oke Popo, Isale-Eko (Lagos Island), where he completed elementary-level studies.
However, the bulk of his education occurred within the confines of his father's tailoring workshop, where he diligently served as an apprentice tailor.
After school hours, Razaq immersed himself in the intricacies of the trade, running errands for his father, sourcing supplies, and assisting in clothing repairs.
Remarkably, even before completing his primary education, Razaq had already honed his skills as an accomplished and skilled tailor.
Razaq's entrepreneurial spirit
Growing up in a modest environment, young Razaq exhibited a remarkable entrepreneurial spirit from an early age.
His keen sense of observation and innate business instincts set the stage for a future marked by groundbreaking achievements.
Razaq embarked on his business journey with an initial capital of £20, a sum he had diligently saved from repairing shirts and trousers in his father's shop.
Contrary to the assumption that he entered the tailoring trade due to his father's influence, Razaq clarified in a subsequent interview that his decision resulted from careful deliberation.
Driven by a desire for financial success, he keenly observed his surroundings, noting that some of the most prosperous individuals in society were successful businesspeople.
A pivotal moment occurred when a product catalogue caught young Razaq's attention, igniting his interest in importing goods from Japan.
Armed with his £20 savings, he secured an additional £50 loan from his mother to place the order. The products proved to be a quick sell, swiftly outpacing existing market offerings in terms of quality.
The rapid turnover marked a lucrative venture and gave Razaq the financial impetus to expand his business and scale up his orders.
This astute move laid the foundation for his ascent in commerce.
Establishing Eleganza Group
At the helm of the Eleganza Group of Companies, Chief Okoya has built a diversified conglomerate that spans various industries.
From manufacturing to real estate, the Eleganza Group is a testament to Chief Okoya's ability to navigate and succeed in dynamic business landscapes.
The group's portfolio includes Eleganza Industrial City, a sprawling complex that houses manufacturing units of various products, including plastic chairs, coolers, and household items.
While his wife, Dr. Shade Okoya, operates as the CEO of Eleganza Group, Chief Okoya remains in the chairmanship position.
To actualise his real estate aspirations, Chief Razaq Okoya established the RAO Property Investment Company as the conduit for his ventures.
One notable project undertaken by the company is the development and upkeep of the Oluwa Ni Shola Estate along the Lekki-Ajah Expressway.
Utilising this platform, he has further directed investments into multiple properties across different areas in Lagos, solidifying his presence and impact in the real estate sector.
Giving back to the community
Beyond his business endeavours, Chief Razaq Akanni Okoya is deeply committed to philanthropy and social impact.
His charitable initiatives, particularly in education and healthcare, have touched the lives of many.
Razaq's philanthropic contributions include establishing schools and healthcare facilities, reflecting a dedication to uplifting the community that has played a pivotal role in his success.
Awards and recognition for excellence
Chief Razaq Akanni Okoya has garnered numerous accolades and acknowledgements throughout his illustrious career.
Notably, he was honoured with the Lifetime Achievement Award of Business Entrepreneur by ThisDay Newspapers, a recognition personally presented by Bill Clinton, the former President of the United States of America.
In addition, Chief Okoya received the Golden Award for Quality from the Nigerian Institute of Standards.
His outstanding contributions have also been recognised by the Federal Government of Nigeria, conferring upon him the prestigious Commander of the Order of Niger (CON) honour.
Legacy for the future
As Chief Razaq Akanni Okoya continues to steer the Eleganza Group to new heights, his legacy extends beyond the boardroom.
His story is an inspiration to aspiring entrepreneurs, a testament to the transformative power of vision, hard work, and resilience.
As Nigeria's industrial landscape evolves, Chief Okoya remains a guiding force, demonstrating that success is not just a destination but a journey marked by continuous innovation and a commitment to excellence.
Razaq Okoya advocates industrial hubs in 36 states, Abuja for economic boost
Meanwhile, Legit.ng earlier reported that Chief Okoya advocated for the establishment of fresh industrial zones in all 36 states to facilitate the growth of small-scale industries.
Okoya proposed that these small-scale industries incorporate residential facilities for their workers, emphasising that this approach could help curb rural-to-urban migration and alleviate urban congestion.
Okoya emphasised that establishing new industrial zones would diminish the need for our young population to traverse various states and notably lessen the urge to relocate to urban centres.
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Source: Legit.ng
