Rasak Okoya Explains Why He Wants to Hand His Business to His Younger Children
- Billionaire industrialist Razaq Okoya has disclosed his plan to pass his Eleganza manufacturing empire to his younger children, explaining the reasons for his decision
- The 79-year-old businessman revealed that he has been training his younger kids in practical experiences and the qualities they need to succeed
- Okoya's statement has triggered massive reactions online, with many Nigerians questioning the fairness of his decision and predicting potential family conflict after his death
Nigerian industrialist Rasak Akanni Okoya, founder of the Eleganza manufacturing empire, has explained why he intends to hand over his business empire to his younger children, who he had with his last wife, Chief Mrs Shade Okoya.
His comments came days after one of his younger sons, Raheem Okoya, also known as Siraheem, spoke publicly about growing up in a large family, revealing that his father has 26 children from nine women and that he is the 23rd child.
Source: Instagram
Raheem added that despite being the son of a billionaire, he earns his own income through his executive role at Eleganza, his music investments, and his salary.
During a recent interview, the billionaire businessman opened up about handing over the future of his business empire to his younger children.
He said he wants them to understand the work early so they do not repeat the mistakes he believes some of their older siblings made.
He spoke about the need for proper training, the importance of hands‑on experience, and why he is already preparing them for the future.
Source: Instagram
Razaq Okoya explained that his children must be trained in the same practical way he built Eleganza over the years, emphasising that they hold the future of the company.
“They must learn things the way we are doing it. They hold the future. 79 years old, I have to pass it on to them. I don’t want them to fail like their senior ones.”
Okoya went on to outline the two major lessons he has been teaching them, noting that experience is the first thing they must acquire, followed by the discipline to stay focused, honest, determined, and punctual.
“Number one is the experience. Number two, they have to learn how to be focused, honest, determined, and punctual.”
Okoya also mentioned that one of his daughters currently lives in Europe, but he ensures she returns home regularly to see the factory and understand how things are run, because he believes the real knowledge they need is here.
Watch the video of Razaq Okoya speaking about his business and children below:
Nigerians react to Razaq Okoya's succession plan
Legit.ng compiled the reactions of netizens below:
@ChidiebeleG said:
"This man is just setting his family up for chaos after his death because the other children will definitely react. I just hope there won't be bloodshed cause that always the norms."
@MrShark_E commented:
"Baba is talking from what he knows and what he's seeing. Seeing from 2096 back to 2026. Even if you're not his child. Pick one or two from him if you have parents running one or two business."
@donald_segun wrote:
"The last wife has a very strong influence on this man. From his statement the last wife has already caused a strain between him and his older children. Without a detailed will, his empire would likely crumble after his demise. The family is already divided."
@BolajiBorah reacted:
"Polygamous men be forgetting that their failed children might be as a result of their parental deficiency. The time they were supposed to raise them properly, they were busy raising the skirts of their age mates. Awon baba ofo."
Okoya's son Raheem sparks controversy over poverty comment
Earlier, Legit.ng reported that Raheem Okoya sparked a heated debate on social media after stating that poverty is largely a product of mindset.
The upcoming singer made the comment during a livestream with content creator Carter Efe.
He urged young Nigerians to rethink their approach to life, describing the brain as the most powerful tool given by God.
Source: Legit.ng
