Recently, many congratulated Chief Rasaq Okoya, the Chairman of Eleganza Group, as he celebrated his 85th birthday. Born in January 1940 in Lagos, Okoya’s journey from humble beginnings to becoming a billionaire and the Aare of Lagos is a remarkable story of hard work, vision, and resilience. 

His success, built through the Eleganza Group of Companies, offers inspiring lessons for anyone striving for greatness. If you aspiring to succeed, here are some life valuable lessons you can grab.

 

Start small, dream wide

Okoya’s business journey began as a young tailor working in his father’s shop. He saved what little money he could from his work and started his first venture. Though he began with small tailoring jobs, Okoya always had big dreams.

Instead of following a more traditional path in law or teaching, Okoya chose business because he saw that many wealthy individuals were entrepreneurs. His ambition to become successful drove him to expand his ventures, eventually entering industries like jewelry and real estate.

Use opportunities wisely

Rasaq Okoya knew how to spot and use opportunities that others might miss. When he came across a catalog from a Japanese manufacturer selling tailoring materials, he saw an opportunity to cut out the middlemen and go directly to the source.

With a small loan from his mother, he placed an order for quality materials, and they sold out quickly. By offering superior products at better prices, Okoya gained a competitive edge in the market. His quick thinking and ability to act on opportunities helped his business grow fast.

Be innovative and diversify

Okoya was never afraid to try new things. He noticed his wife’s love for jewelry and saw a gap in the market, prompting him to enter the jewelry manufacturing business. By importing machinery and expertise, he was able to produce high-quality jewelry at low costs using local materials.

This move into the jewelry business allowed Okoya to diversify and expand his empire even further. His willingness to innovate and explore new areas was a key factor in his success.

Invest in Real Estate

For Okoya, real estate was always part of the plan. He admired landlords and dreamed of owning property from a young age. Once he had enough funds, he began investing in land and developing buildings. By the age of 40, he had already established high-rise buildings and a real estate company.

Today, Okoya’s real estate ventures include luxury estates that cater to both Nigerians and expatriates. His investments in property gave him a steady income and long-term financial stability, proving the value of smart, strategic investments.

Hard work matters more than degrees

Despite having only a primary school education, Okoya believes that hard work is far more important than formal qualifications. He built his fortune through sheer determination and a willingness to learn from real-world experiences.

In interviews, he has often said that education can sometimes create a false sense of confidence, making people rely too much on their degrees instead of focusing on hard work. For Okoya, success came from ambition, persistence, and relentless effort.