Long before the wealth and recognition, Okoya was simply a young man who believed Nigeria could produce quality products for its people, and he turned that belief into reality. Razak Okoya was not born into luxury. Before becoming one of Nigeria’s most recognised billionaires and industrialists, he lived a humble life built around trading and tailoring in Lagos.
Born on January 12, 1940, Okoya is who now the Aare of Lagos is – from Lagos. He received his only formal education at Ansar-Un-Deen Primary School in Oke Popo, Lagos, before going fully into business.
After school hours, Okoya spent most of his time in his father’s tailoring shop, where he assisted with daily work while learning the trade. He soon began repairing torn clothes for neighbours at affordable prices and earned enough money to start his own business. The experience gave him the confidence to explore bigger opportunities in commerce. He travelled far and wide, studying how products were made, with a strong belief that Nigeria could meet and even surpass international standards. 
His first wife, Kuburat Okoya, loved expensive jewellery, and the high prices often shocked him. He believed Nigerian manufacturers could produce the materials locally at lower costs, convinced there was a market for quality and affordable jewellery, he travelled abroad to buy the necessary equipment. That decision marked the beginning of Eleganza Jewellery.
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The business grew rapidly. Customers loved the products because they were beautiful, durable, and affordable. Demand became overwhelming, and the products quickly turned into household favourites. He later expanded into the production of buttons and more jewellery items.
As his business expanded, Okoya moved into shoe importation on a large scale. During one business transaction, he paid for a shipment of shoes that was never delivered. Angry and determined to understand what happened, he travelled to Italy to visit the factory, only to discover that the company had used his payment to settle its debts. The experience pushed him to make a bold decision to begin manufacturing shoes himself.
He immediately imported machines and hired foreign experts to train Nigerian workers. That move laid the foundation for what later became Eleganza Industries.
Today, Eleganza Industries manufactures a wide range of household products and utensils, including cutlery, food warmers, coolers, electric fans, cosmetics, ballpoint pens, and other consumer goods. Its factories are located in Oregun-Ikeja, Isolo, Alaba, and Iganmu. Through the company and his RAO Property Investment business, Okoya has created employment opportunities for thousands of Nigerians and foreign workers.
Razaq Akanni Okoya’s story is a powerful example of how determination, street knowledge, and business vision can transform a humble beginning into a lasting empire. From helping in his father’s tailoring shop to building one of Nigeria’s biggest indigenous manufacturing brands, his journey reflects hard work and resilience.
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