Rasaq Okoya Net Worth (Updated 2026).

Written ByJeff kalis Hours Published on

Rasaq Okoya, a name that has become synonymous with entrepreneurship and success in Nigeria, began his career in the most humble of circumstances. Born into a family with modest means, Okoya’s journey to fame and fortune started with a simple idea and a small loan. In the early 1970s, with just $200, Okoya saw an opportunity in the local market for affordable, quality furniture. He started by manufacturing and selling chairs, a decision that would lay the foundation for his future empire.

Okoya’s rise to fame was not an overnight success story. He spent years honing his craft, learning the intricacies of furniture production, and building relationships with customers. His dedication to quality and customer satisfaction earned him a reputation as a reliable and trustworthy businessman. As his business grew, so did his influence. Okoya expanded his product line to include a wide range of furniture and home accessories, catering to both the local and international markets. Today, he is not just a successful businessman but also a respected figure in Nigeria’s business community, known for his innovative spirit and commitment to excellence.

Rasaq Okoya’s Current Net Worth

As of 2025, Rasaq Okoya’s current net worth is estimated to be around $1.2 billion, according to the latest available information. This makes him one of the wealthiest individuals in Nigeria.

Career

Rasaq Okoya is the founder and chairman of Eleganza Group, a conglomerate with interests in textiles, real estate, and manufacturing. He started his career as a textile merchant in the 1970s and grew his business over the years to become one of the leading textile producers in Nigeria.

Other Ventures

Besides Eleganza Group, Okoya also has interests in other businesses. He is the founder of the Rasaq Okoya Foundation, a non-profit organization focused on education, healthcare, and community development. He also has investments in the hospitality and entertainment sectors.

Assets

Okoya’s assets include several properties in Lagos, Nigeria’s commercial hub. He owns the luxurious Eleganza Hall and Okoya Town, a residential estate in the Lekki area of Lagos. He also has a fleet of luxury cars and private jets.

Annual Income

Okoya’s annual income is not publicly disclosed. However, given the scale of his businesses and investments, it is estimated to be in the hundreds of millions of dollars. His wealth has seen a steady increase over the years, reflecting the success of his business ventures.

Frequently Asked Questions about  Rasaq Okoya

Frequently Asked Questions: Rasaq Okoya Net Worth

1. What is Rasaq Okoya’s net worth?

Rasaq Okoya’s net worth is estimated to be around $600 million.

2. How did Rasaq Okoya make his fortune?

Rasaq Okoya made his fortune through his furniture manufacturing business, Furniture Manufacturers Association (FMA), which he founded in 1973. He also has interests in real estate and other businesses.

3. Where is Rasaq Okoya from?

Rasaq Okoya is from Nigeria. He was born in Lagos State and still resides there.

4. What is the name of Rasaq Okoya’s company?

The name of Rasaq Okoya’s company is Furniture Manufacturers Association (FMA).

5. When was Rasaq Okoya’s company founded?

Rasaq Okoya’s company, FMA, was founded in 1973.

6. What are some of Rasaq Okoya’s philanthropic works?

Rasaq Okoya has been involved in various philanthropic works, including the establishment of the Rasaq Okoya Foundation, which focuses on education, health, and empowerment. He has also donated to several causes and institutions in Nigeria.

7. What awards has Rasaq Okoya received?

Rasaq Okoya has received several awards and recognitions, including the Officer of the Order of the Niger (OON) award, which he received in 2003. He has also been inducted into the Lagos State Hall of Fame.

8. Is Rasaq Okoya married?

Yes, Rasaq Okoya is married. He has been married to his wife, Alhaja Moji Olabanji Okoya, since 1975.

9. How many children does Rasaq Okoya have?

Rasaq Okoya has 12 children with his wife, Alhaja Moji Olabanji Okoya.

10. What is Rasaq Okoya’s age?

Rasaq Okoya was born on January 14, 1946, making him 76 years old as of 2022.

Hey, I’m Jeff Kalis — just a guy who’s obsessed with all things entertainment. Whether it’s breaking down the latest binge-worthy series, reviewing films, or diving into pop culture moments, I’m here to share my take. I write like I talk — laid-back, honest, and (hopefully) fun to read. If you love movies, TV, music, and the occasional hot take, you’re in the right place.