The name Okoya resonates deeply in Nigerian business, luxury, and wealth circles. Known for his remarkable contributions to manufacturing, real estate, and philanthropy, Chief Razaq Akanni Okoya has become one of the most successful and admired entrepreneurs in Nigeria. In this comprehensive article, we delve into Okoya net worth in 2025, including his biography, business empire, luxury cars, mansions, and his estimated wealth in both Naira and Dollars.
For those who are curious about how he built his fortune, what businesses he owns, and his lifestyle of elegance, this guide provides all the information you need.
Chief Razaq Okoya, the founder of Eleganza Group of Companies, is a quintessential Nigerian success story. From humble beginnings, he rose to become a billionaire industrialist, providing employment to thousands and contributing significantly to Nigeria’s economy.
By 2025, Chief Okoya’s wealth has continued to grow, making him not just a symbol of hard work and ingenuity but also a living example of how dedication and foresight can create generational wealth.
Biography of Chief Razaq Okoya
Born on January 12, 1940, in Lagos, Nigeria, Razaq Okoya came from a modest background. His father was a tailor, and young Okoya learned early about discipline and the value of money.
He attended Ansar‑Ud‑Deen Primary School, Lagos, but could not proceed to higher education due to financial constraints. Instead, he began working in his father’s tailoring business while saving money to pursue his entrepreneurial dreams.
His early exposure to trade and a sharp business sense positioned him to seize opportunities in Nigeria’s growing manufacturing sector.
Career and Business Empire
Chief Okoya founded Eleganza Industries in the 1960s, initially producing jewelry and tailoring accessories before expanding into household products such as chairs, coolers, plates, and industrial plastics.
Major Businesses Under the Eleganza Group:
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Eleganza Plastic Products
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Eleganza Metal Industries
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Eleganza Estates (real estate)
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Eleganza Industries Ltd.
Today, the Eleganza Group of Companies is a household name in Nigeria, renowned for its affordable yet high‑quality products and employing thousands of Nigerians.
Okoya Net Worth in 2025: An Overview
As of 2025, Chief Razaq Okoya’s estimated net worth stands at approximately ₦180 billion – ₦200 billion Naira, which is roughly $150 million – $165 million USD.
This estimation is based on his diversified assets, business holdings, luxury properties, investments in manufacturing, real estate, and other ventures.
Okoya Net Worth in Naira and Dollars
| Currency | Estimated Net Worth 2025 |
|---|---|
| Naira (₦) | ₦180 billion – ₦200 billion |
| US Dollars ($) | $150 million – $165 million |
These figures highlight Okoya’s position as one of Nigeria’s most enduring and successful industrialists.
Okoya’s Luxury Cars
Chief Okoya is known for his taste in fine automobiles. His collection includes some of the most prestigious vehicles in the world.
Notable Cars in His Garage:
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Rolls Royce Phantom – Estimated at ₦230 million.
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Bentley Continental GT – Estimated at ₦120 million.
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Mercedes Benz S‑Class – Estimated at ₦85 million.
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Range Rover Autobiography – Estimated at ₦70 million.
These cars are often seen parked in his sprawling estate in Lekki, Lagos.
Okoya’s Houses and Properties
One of the most talked‑about aspects of Okoya’s wealth is his magnificent residence known as the Okoya Estate in Lekki. This mansion, worth over ₦10 billion, sits on several acres of prime Lagos land, featuring:
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Multiple villas for family and guests.
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Private gardens and swimming pools.
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State‑of‑the‑art security.
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A chapel and a mosque.
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Personal cinema and event halls.
Additionally, he owns real estate investments in other parts of Lagos, Abuja, and abroad.
Philanthropy and Other Interests
Despite his wealth, Chief Okoya is deeply committed to charity. He supports various causes, including:
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Scholarships for underprivileged students.
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Donations to hospitals and health centers.
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Sponsorship of community development projects.
He is also a strong advocate for empowering Nigerian youth through entrepreneurship and skills acquisition.
How Okoya Built His Wealth
Several factors contributed to Chief Okoya’s financial success:
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Starting early and reinvesting profits into growing businesses.
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Identifying the manufacturing needs of Nigerians and meeting them locally.
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Diversifying into real estate and maintaining a hands‑on approach.
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Building a solid brand and maintaining excellent customer trust.
His philosophy emphasizes hard work, resilience, and prudent financial management.
Summary Table of Okoya’s Net Worth, Cars, and Houses
| Category | Details |
|---|---|
| Net Worth (₦) | ₦180 billion – ₦200 billion |
| Net Worth ($) | $150 million – $165 million |
| Main Income Sources | Manufacturing, Real Estate, Investments |
| Luxury Cars | Rolls Royce, Bentley, Mercedes, Range Rover |
| Notable House | Lekki Estate (worth over ₦10 billion) |
Frequently Asked Questions
1. Who is Razaq Okoya?
Chief Razaq Okoya is a Nigerian billionaire industrialist, founder of the Eleganza Group, and one of the country’s most successful businessmen.
2. What is Okoya’s net worth in 2025?
His estimated net worth in 2025 is between ₦180 billion and ₦200 billion, equivalent to $150 million to $165 million USD.
3. What businesses does Okoya own?
Okoya owns the Eleganza Group, which includes companies in plastics, metals, and real estate.
4. What cars does Okoya own?
His collection includes a Rolls Royce Phantom, Bentley Continental GT, Mercedes Benz S‑Class, and Range Rover Autobiography.
5. Does Okoya own properties outside Lagos?
Yes, in addition to his Lekki mansion, he owns real estate in Abuja and international locations.
6. How did Okoya start his business?
He started with jewelry and tailoring accessories before venturing into manufacturing household products.
7. Is Okoya married?
Yes, he is married and has a large family, some of whom are involved in his businesses.
8. What is unique about Okoya’s Lekki mansion?
It is a sprawling estate with luxurious amenities, serving as both a family home and venue for large events.
9. Does Okoya engage in philanthropy?
Yes, he is known for supporting education, healthcare, and community development initiatives.
10. What advice does Okoya give to aspiring entrepreneurs?
He encourages them to start small, work hard, and reinvest profits wisely.
Conclusion
Chief Razaq Okoya remains one of the most iconic figures in Nigerian entrepreneurship. His journey from humble beginnings to billionaire status underscores the power of vision, diligence, and strategic planning.
His net worth in 2025, estimated at over ₦180 billion, reflects decades of hard work, resilience, and prudent investments. Okoya’s luxury cars, mansions, and philanthropic efforts illustrate a life of achievement balanced with giving back to society.
For aspiring business leaders and those inspired by his story, the lesson is clear: success is built gradually through dedication, innovation, and an unwavering focus on goals.