Razaq Okoya, a name that has become synonymous with success in the Nigerian business landscape, began his entrepreneurial journey in the bustling city of Lagos. Born into a humble family, Okoya’s journey is a testament to the power of perseverance and hard work. He started his career as a young entrepreneur, selling spare parts in the early 1980s, a time when the Nigerian economy was facing significant challenges.

Okoya’s big break came when he saw an opportunity in the textile industry. He established the Razaq Okoya Group, which initially focused on the importation and distribution of textile materials. His keen business acumen and understanding of the market led him to diversify into manufacturing, a move that would catapult him to fame. He established the Razaq Okoya & Sons Limited, a textile manufacturing company that would become one of the largest in Nigeria.

Razaq Okoya’s Net Worth in 2025

As of 2025, Razaq Okoya’s net worth is estimated to be around $1.2 billion, according to Forbes. This significant wealth is a testament to his successful career in business and entrepreneurship.

Razaq Okoya’s Career

Razaq Okoya is a Nigerian businessman and the founder of Eleganza Group, a conglomerate with interests in real estate, manufacturing, and oil and gas. He started his career in the 1980s, importing and distributing motorcycles, before expanding into other ventures. Today, Eleganza Group is one of Nigeria’s largest private sector employers.

Other Ventures

Okoya’s business acumen extends beyond Eleganza Group. He is also the chairman of the Lagos State chapter of the All Progressives Congress (APC), a major political party in Nigeria. Additionally, he has invested in the entertainment industry, producing several Nollywood movies.

Assets

Okoya’s assets include numerous properties in Lagos and other parts of Nigeria, as well as stakes in various companies. He is also known for his philanthropic efforts, contributing to education, health, and community development initiatives across Nigeria.

Annual Income

Okoya’s annual income is not publicly disclosed. However, given the scale of his businesses and investments, it is likely to be substantial. His wealth has grown significantly over the years, reflecting the success and expansion of his business empire.

Frequently Asked Questions about  Razaq Okoya

Frequently Asked Questions: Razaq Okoya Net Worth

1. What is Razaq Okoya’s net worth?

Razaq Okoya’s net worth is estimated to be around $1.5 billion.

2. How did Razaq Okoya make his fortune?

Razaq Okoya made his fortune through his real estate and construction business, Eleganza Group. He is also involved in other industries such as manufacturing and finance.

3. Where is Razaq Okoya from?

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

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

Razaq Okoya’s company is called Eleganza Group.

5. When was Eleganza Group founded?

Eleganza Group was founded in 1981.

6. What are some of the projects Eleganza Group has worked on?

Eleganza Group has worked on numerous projects, including the construction of the Eko Atlantic City, a $6 billion project in Lagos, Nigeria.

7. Is Razaq Okoya involved in any philanthropic work?

Yes, Razaq Okoya is involved in philanthropic work. He has established the Razaq Okoya Foundation, which focuses on education, health, and community development.

8. What is Razaq Okoya’s educational background?

Razaq Okoya obtained a Bachelor’s degree in Economics from the University of Lagos, Nigeria.

9. Has Razaq Okoya received any awards or recognitions?

Yes, Razaq Okoya has received several awards and recognitions, including the Officer of the Order of the Niger (OON) award, which is one of the highest national honors in Nigeria.

10. What is Razaq Okoya’s age?

Razaq Okoya was born on October 10, 1956, making him 65 years old.