ELEGANZA BOSS AT 85: A legacy of business, religion and philanthropy
By BASHIR ADEFAKA
Synonymous with vision, industry and enterprise as far as the Nigerian business landscape is concerned, Chief (Dr.) Rasaki Akanni Okoya, the founder of Eleganza conglomerate is one of those few men that can be truly said to be larger than life. Whether the focus is on the field of enterprise, religion, education or the world of philanthropy, Okoya is one name that has been a permanent fixture on the Lagos and Nigerian turf over the past 65 years, gaining the respect and admiration of many beyond the shores of Nigeria and well across the globe Journalists write as he turns 85. Excerpts:
What comes to mind when his name is mentioned? He is an astute business mogul, a bridge builder, a philanthropist and an employer of labour. These are some of the virtues of this quintessential, eminent Nigerian. And if the name sounds strange to you, it means you aren’t familiar with the economic landscape of Nigeria which he has dominated for over six decades. Alhaji Rasaki Akanni Okoya, the famous business mogul behind the Eleganza conglomerate legacy in the field of business is enduring. Age and passage of time might have slowed him down but the Oluwaninsola landlord’s larger than life image and business acumen have continued to dominate among the business titan in Nigeria and beyond.
A man with a Midas touch whose breakthrough in business came at the age of 19 . He built a house in Surulere and by the age of 21, he could boast of four houses in Surulere. At about 34, he had acquired a property on Ikoyi Crescent; four hectares of land in the heart of Ikoyi. By the time he clocked 40, two high-rise buildings had been added to his name.
Okoya’s Eleganza Group is one of the biggest homegrown conglomerates in Nigeria today, with over six factories. He started manufacturing coolers in 1978 at a factory in Oregun, Ikeja, Lagos State.
Just like an old wine which tastes better with age, Eleganza as a company keeps evolving, moving with the vision of its founder.
The sprawling production plant, Eleganza Industrial City Limited situated on over 30 hectares of land at Ibeju-Lekki, Lagos is an attestation to the vision of a man whose passion for enterprise has continued to grow. Under the newly-built plant, all household items are produced under the same roof. Some of these products such as Coolers, Chairs and Tables, Hair Threads, Diapers, Lady Sanitary, Pet Preform and Cap, Re-Useable cups and plastic shoes, Luggage boxes etc, have become household names in Nigeria and neighboring African markets. The standard and quality are unmatched.
Life at 85 and looking back, he said, “My prayer is to enjoy good health, long life and leave the legacy of my industry behind as I want Eleganza to outlive me and continue with my philosophy of philanthropy.”
Born on January 12, 1940 to Tiamiyu Ayinde and Alhaja Idiatu Okoya, in Lagos, the billionaire industrialist, who founded the Eleganza Group of Companies which has a market share that extends across the West African sub-region, attended Ansar-Un-Deen Primary School, Oke Popo, Lagos. And from such humble beginnings in the heart of Lagos Island (Epetedo area), he soon made it clear that his heart was set on becoming a businessman. His story, today, is one that will never be forgotten in a hurry in this part of the world. Having displayed sharp business acumen and drive to achieve great success, the young Okoya has started his own business at the age of 14.
His story has been told several times of how he started his conglomerate with 70 pounds which his mother granted him and his decision to invest in importation of tailoring materials such as ribbons, zip fasteners and buttons under the trade name, Okoya Buttons Stores, paid off. By the time, he was 17 years old, he had become a source of inspiration even to those who were older than him and has not looked back since.
A dynamic Nigerian, Chief Okoya is the poster boy of entrepreneurship with enduring enterprise. He could well be regarded as the king of entrepreneurs and industrialists in Nigeria. That can be considered as an understated point. For those who know, the Eleganza Empire is like a utopia many Nigerians who want to live in the moment. Okoya has lived in that real-world he created decades back.
An enigma, the Aare of Lagos inhabits a world that shimmers in style as an industrialist and a philanthropist. With him, the world of business would always appear like a piece of cake.
“Honesty, focus, determination, self-belief, and passion for what you do are key ingredients to being successful and wealthy.
“When I started, out I guarded my resources jealously because I believed as an industrialist, the money might come in volume and once you are determined to put the money back into that business and you don’t waste it, you will see the result.
“I have been busy all my life with business, construction, trading to the extent that I didn’t have time for social life at the initial stage. And to have sustained all this over the last six decades is by commitment, hard work and the grace of God. I believe success isn’t elusive to those who dare.
As a business mogul, he is also a property tycoon. His legacy on the real estate sector is conspicuous as many of the landmarks on both sides of the 80-kilometre Lekki-Epe Expressway are adorned with Eleganza Properties, providing choice properties and accommodation for the middle and higher classes of the Nigerian society while also providing employment opportunities for artisans, engineers, architects and others skilled and unskilled workers across the Eleganza estates.
Speaking about what it means to be 85, Chief Okoya said, “All my life, at 85 years, has been spent in the industries I built. I derive my happiness on production lines, which I have found to be very interesting, it keeps me busy and fulfilled all the time, and I continuously pray for Nigeria every minute to be an industrialised country.”
Ever looking at issues from the perspective of industry and entrepreneurship, Chief Okoya added: “I have always preached and prayed that every state of all 36 states including FCT in Nigeria would have an industrial zone in the outskirt of the cities with residential accommodation to ameliorate the life of citizens. This would stop the movements of our youths migrating from rural areas to urban cities..
Dwelling on his personal view during visits outside the shores of Nigeria, the 85-year-old magnate stated that government should provide small scale equipment and machinery for small scale production lines and sell it to the youths who have acquired the skills and graduated from the training school of their specialised area on the basis of loans with low-interest rates.
In the world of philanthropy, Alhaji Razak Okoya is an uncommon philanthropist. Among moves that exemplify this more than anything is his move to single–handedly endow the Ekiti State (formerly University of Ado–Ekiti, UNAD) with the building that accommodates the entire Faculty of Business Administration on the campus. In recognition of his business acumen and his large-heartedness, he was conferred with the Honorary Doctorate degree of the institution.
He sponsored the building of the Library inside the Island Club premises along with scholarship schemes for indigent students in various institutions of higher learning across Nigeria.
Okoya is also a religious man per excellence. His devotion to his religion is further gingered by ensuring that no fewer than twelve Islamic devotees (staff, relations), are sent to Mecca on the yearly holy pilgrimage.
He has also built a large mosque in his private residential compound at the Oluwaninshola Estate where hundreds of the moslem faithful from all over Lagos come together to worship Allah every Friday and he shares food and gifts after the service each week.
Okoya, a man who has adopted excellence as his hallmark throughout his life, was conferred with the Nigeria National Award of Commander of the Order of Niger, CON. A committed religious man. He was honoured with the title of Otun-Aare Adinni by the Lagos Central Mosque, bestowed with the Life Time Achievement Awards by Sun Newspaper in 2016 and Daily Independent Newspapers in 2017 respectively.
The foremost industrialist is Aare of Lagos, Bobajiro of Oke –Ona Egbaland and Aare Babalaje of Ajiran land.
As an astute business man, he is also a committed family man. You can say he is a homely man. Despite his greatness and wealth, you find him attending to his wives, children and grand-children discussing vital issues pertaining to the good and development of Eleganza Group of Companies as well as family matters.
The man of immense wealth is further strengthened by his youngest wife, Shade. “In a few years time, I may quit or slow down. Luckily, I have a younger wife, Shade, who is interested and committed to this dream as well. She is always in the factory from 7 am to 7 pm. I have worked throughout my life. It’s time to relax.”
The moneyman has kept politics at bay. “As I always say, a good carpenter cannot sew clothes. I am a good industrialist. God has helped me thus far. Although some politicians are my good friends, I don’t know much about politics.
“I am doing God’s will where he has positioned me. I am too busy with my factory to think about dabbling into politics. It has never crossed my mind,” he stated.
At 85, Chief Okoya may have slowed down but he is still on top of his game in business as Eleganza products have continued to dominate and resonate among the past, present and the future generations. Thanks to the vision of a man who remains committed to his calling.
