THE RAZAK AKANNI OKOYA STORY:FROM AN APPRENTICE TO A MULTI-BILLIONAIRE.

Razak Okoya was born in Lagos on January 12, 1940 to Tiamiyu Ayinde and Alhaja Idiatu Okoya (both of blessed memory). He had his education in the present Ansar-un-deen School, Oke Popo, Lagos. He worked with his father who had a tailoring business, who also sold tailoring accessories. After working with his dad for a while, he began to do a few things on the side, like amending shirts and trousers for a fee.For instance, turning long sleeves to short sleeves or trousers to shorts. He saved every penny he made.

When Razak had saved about twenty pounds, he wanted to go into trading. Back then, ordering for goods directly from manufacturers was not popular; most people bought goods imported into Lagos. But Razak got hold of the catalog of a manufacturing business in Japan. He liked the goods but he needed seventy pounds to be able to order and ship to Lagos. He approached his mother for the money.

After telling her what he wanted to do and getting his father's permission, his mother gave him the 50 pounds he needed. By the time his goods arrived, they were not only of better quality, they were also cheaper than what was available in the market. He sold out quickly and ordered more. That was how it all began. As the business grew, he went into other things. He later branched out into manufacturing.

As his business started expanding, he traveled far and wide and saw how different things were manufactured. He always felt that we could do as good, if not better.

By this time, he had married his first wife. She would bring jewelery that cost so much. He used to be baffled at how much she said they cost. He felt it was ridiculous. These were metals that he felt could be designed and at a cheaper price; especially as we had the metals available in Nigeria. He saw the way women loved to wear jewelery.
Challenged by what he felt was a healthy demand, he traveled abroad, bought the machines and came with some experts. That marked the birth of Eleganza Jewelery. The success was phenomenal. They could not keep up with the demand because, the products were beautiful, durable and cheap. They were instant best sellers.

He was also manufacturing and selling Eleganza buttons and jewelery. Then, he began to import shoes in large quantities. He paid the factory to manufacture and import to Nigeria. On one of these occasions, after paying, the goods were not delivered. He waited a while and traveled to Italy to see the manufacturer. He arrived there and discovered that they had used his money to settle their bills. He was so angry that he decided there and then to begin manufacturing his own shoes and that is what he did. He imported all the machines and brought in some experts who trained his workers. And that was how they began making shoes.

Today, under his Chairmanship, the Eleganza Industries practically produces all manner of household goods and utensils including cutlery, collieries, food warmers, ice chest, electric fan, cosmetics and ballpoint pen. Spread across different locations in Lagos namely, Oregun-Ikeja (Sites I& II), Isolo, Alaba and Iganmu.The company now directly employs over five thousand Nigerians and non-Nigerians including those working in his RAO Property Investment Company. Okoya's Eleganza Group is one of the biggest homegrown conglomerates in Nigeria today, with over six factories, and its products are household names in Nigeria neighbouring African markets.

Courtesy Usiere Uko

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