Rasaq Okoya best known as Eleganza is a prominent Nigerian businessman and industrialist, best known as the founder and chairman of the Eleganza Group, a large conglomerate with diverse interests in manufacturing and real estate. He is the Chairman of the Eleganza Group and RAO Property Investment Company

Eleganza Bus Stop is a notable landmark along the Lekki–Epe Expressway, often used as a reference point for getting down at Orchid Road, Lekki. It is well known for its proximity to the residential estates within Orchid Road

Early Life and Background

• Birth: Rasaq Okoya was born on January 12, 1940, in Lagos, Nigeria. He was born into a modest family, with his father, Tiamiyu Ayinde Okoya, being a tailor, and his mother, Alhaja Idiatu Okoya.

• Education: Okoya received his primary education in Lagos. However, his formal education was limited, as he left school at an early age to pursue a career in business. He learned the basics of business from his mother, who was a successful trader, and this early exposure greatly influenced his entrepreneurial path.

Business Career:

• Start in Business: Okoya started his business journey at a young age. He initially worked for his father’s tailoring business but quickly branched out on his own. He began by trading in small goods, including wristwatches, and other items that were in demand at the time. His first significant breakthrough came when he started importing and selling lace materials, which were highly fashionable in Nigeria during the 1960s.

• Founding Eleganza Group: In the 1970s, Okoya founded the Eleganza Group, which started as a small trading company but quickly expanded into manufacturing. The company initially produced plastic goods, including household items, coolers, and chairs, which became ubiquitous in Nigerian homes. Over the years, the Eleganza brand grew into a household name, symbolizing affordable quality products.

• Expansion: Under Okoya’s leadership, the Eleganza Group diversified its operations, expanding into various sectors such as cosmetics, pharmaceuticals, stationery, and food products. The group also ventured into real estate, with significant investments in property development in Lagos and other parts of Nigeria.

• Eleganza Industrial City: One of Okoya’s most ambitious projects is the Eleganza Industrial City, a massive industrial complex located along the Lekki-Epe Expressway in Lagos. The industrial city houses several manufacturing plants producing a wide range of products, from plastics to cosmetics, and is a testament to Okoya’s vision for large-scale industrialization in Nigeria.

NETWORTH

Chief Razaq Okoya founder of Eleganza Group is estimated to have a networth between $1.5 billion. Starting from modest beginnings in tailoring accessories, his unrelenting drive and diversification into manufacturing, real estate, and property investment built him into one of Nigeria’s most enduring industrialists.

Wives and Chidren

Chief Razaq Okoya, celebrated founder of Eleganza Group, and his wife Dr. Folashade Okoya together with their four children, Olamide, Subomi, Oyinlola, and Wahab,represent a legacy of entrepreneurial success, family unity, and generational continuity.

Chief Razaq Okoya, founder of Eleganza Group, is married to six women Alhaja Kuburat Olayinka Okoya (his first wife), Ajoke Okoya, Yetunde Okoya, Jennifer Okoya, Zainab Okoya, and his youngest wife, Dr. Mrs. Folashade Okoya. Together, they represent a prominent legacy of entrepreneurship, family values, and enduring influence in Nigerian business.