Razaq Okoya Biography: Age, Wives, Children, Net Worth, Mansion, Parents, Eleganza Group

Biography

Chief Razak Akanni Okoya, born on January 12, 1940, in Lagos, Nigeria, is a self-made billionaire industrialist and a symbol of entrepreneurial success.

Starting with just £70—£20 saved and £50 borrowed from his mother—he began importing goods from Japan, a venture that laid the foundation for the Eleganza Group of Companies. Today, Eleganza is one of Nigeria’s largest conglomerates, producing a wide range of household goods and jewelry.

Razaq Okoya‘s success extends beyond industry. He has significant real estate investments, including the Oluwa Ni Shola Estate. He is also known for his family life, notably his marriage to Shade Okoya, with whom he has four children.

Recognized with numerous honors, including the Commander of the Order of Niger (CON), Okoya has made significant contributions to society through philanthropy, supporting schools and healthcare facilities. A prominent figure in Yoruba culture, he is respected for his adherence to traditional customs, often participating in cultural events and showing respect to elders.

Razaq Okoya
Wiki Facts & About Data
Real Name:	Razak Akanni Okoya
Stage Name:	Razaq Okoya
Born:	12 January 1940 (age 84 years old)
Place of Birth:	Lagos State, Nigeria
State Of Origin:	Lagos State
Nationality:	Nigerian
Education:	Ansar-un-deen Primary School
Height:	N/A
Parents:	Tiamiyu Ayinde Okoya, Idiatu Okoya
Siblings:	N/A
Spouse:	Kuburat Olayinka Okoya, Shade Okoya (m. 1999)
Girlfriend • Partner:	N/A
Children:	Tayo Okoya, Subomi Okoya, Jubril Okoya, Aminat Okoya, Subomi Okoya, Wahab Okoya, Olamide Okoya, Oyinlola Okoya, Rasheed Okoya
Occupation:	Businessman • Industrialist
Net Worth:	$450 million (USD)

Early Life & Education

Razaq Okoya was born in Lagos, Nigeria, on January 12, 1940. He is a Muslim of Yoruba descent, deeply rooted in Islamic traditions. His father, Tiamiyu Ayinde Okoya, was a tailor whose business provided the initial foundation for Razaq’s entrepreneurial spirit.

His mother, Idiatu Okoya, provided him with additional funds to support his early business ventures. Although information on his siblings is not widely documented, he comes from a family where traditional values and business were central.

Razaq Okoya‘s formal education was modest, attending Ansar-un-deen Primary School in Lagos. However, his real education came from working in his father’s tailoring business. This hands-on experience taught him the value of hard work, commerce, and customer service, which would later prove invaluable in his business ventures.

From these humble beginnings, Razaq Okoya learned the ropes of business, starting with tailoring and eventually branching out into importing and manufacturing, which would lay the groundwork for his future empire.

Career

Razaq Okoya, born on January 12, 1940, in Lagos, epitomizes entrepreneurial spirit and industrial innovation in Nigeria. Starting as a tailor’s apprentice, Okoya‘s rise to becoming a billionaire industrialist and the Aare of Lagos is a testament to his vision, hard work, and business acumen.

Initially working in his father’s tailoring shop, Okoya gained foundational business skills that would later fuel his ventures. With savings of 20 pounds and an additional 50 pounds from his mother, he began importing goods from Japan, seizing the opportunity to address high prices in Nigeria despite the availability of local raw materials.

Razaq Okoya founded the Eleganza Group of Companies, initially focusing on jewelry and expanding into manufacturing household goods, cosmetics, and more. Today, it stands as one of Nigeria’s largest conglomerates, operating over six factories across West Africa. His investments also extend into real estate through RAO Property Investment Company, developing upscale estates like “Oluwa ni Shola.”

Okoya‘s commitment to philanthropy is evident in his support for schools and healthcare facilities. His achievements have earned him numerous accolades, including the Lifetime Achievement Award of Business Entrepreneur from ThisDay Newspapers, presented by former U.S. President Bill Clinton, and the Commander of the Order of Niger (CON) from the Nigerian government.

A staunch adherent of Yoruba cultural norms, Razaq Okoya actively participates in traditional events and often shows respect for elders. His personal life, particularly his marriage to Shade Okoya and their four children, reflects a blend of traditional values with modern family dynamics.

Personal Life

Razaq Okoya has been married multiple times, one of his notable marriages being to Shade Okoya. Shade, born on April 25, 1977, married Razaq Okoya at the age of 21 when he was 59. Their marriage has been celebrated for its longevity, reaching over 25 years.

Shade Okoya is not only his wife but also plays a significant role in the family business, serving as the MD/CEO of Eleganza Group, showcasing her as a businesswoman in her own right.

Over his lifetime, Razaq Okoya has had several marriages, with one of his senior wives, Kuburat Olayinka Okoya, having been married to him for over 50 years. This indicates his traditional approach to family, where multiple marriages are not uncommon in his cultural context.

From these marriages, Razaq Okoya has fathered many children. Notable mentions include Tayo Okoya, Subomi Okoya, Jubril Okoya, Aminat Okoya, Wahab Okoya, Olamide Okoya, Oyinlola Okoya, and Rasheed Okoya, though the number of children from all his marriages is significantly higher, with reports suggesting up to 31 children.

Razaq Okoya‘s adherence to Yoruba cultural norms, like prostrating before elders, reflects his deep respect for tradition, which has been highlighted in social media posts, showcasing his cultural values.

Folashade Okoya‘s role extends beyond being a wife; she’s described as managing both the Okoya businesses and the household effectively, which has been praised by her stepchildren and others.

Net Worth

Razaq Okoya, a Nigerian billionaire industrialist and the Aare of Lagos, has amassed significant wealth through his Eleganza Group of Companies, which includes manufacturing, real estate, and other ventures.

Although exact figures vary, social media reports suggest Razaq‘s net worth is approximately $450 million.

His fortune stems from a range of business activities, including Eleganza’s production of household goods and jewelry and notable real estate investments, such as the upscale “Oluwa ni Shola” estate.