Rasaki Akanni Okoya: Making Nigerian Youths Productive Though Industrialisation

Youth unemployment has been regarded as one of the serious threats endangering the progress of Nigeria.
This refers to the conglomerate of youths with diverse background, willing and able to work but cannot find employment.

Alhaji Rasaki Akanni Okoya, the owner and founder of Eleganza group of companies and RAO Investment Properties said, the secret of his success are consistency, perseverance, hard work commitment, passion and integrity as he advises the government to make the youth productive using industrialisation.

Okoya’s journey from humble beginnings to becoming a billionaire is a testament to his unwavering vision, strategic insight, relentlessness and perseverance. At 84, Okoya says the secret of his success are consistency, perseverance, hard work commitment, passion and integrity and he advises the government to make the youth productive using industrialisation.

He noted that “consistency, perseverance, hard work commitment, passion and integrity are the only vehicles that can drive you to success and not by cutting corners. Also, it is by being true to oneself in what one is doing.
“I am passionate about my business. I am committed to it and I have been consistent over the years by getting involved all the way by not playing the boss. At Eleganza, we try to work within our means particularly by working with the local market. It has helped the business to grow this far.”

He said: “From working and monitoring the manufacturing industry for over 60 years. My hope is that the current administration makes the industrialisation of Nigeria a cardinal goal: utilising our youths and empowering increased incorporation of manufacturing through the establishment of many cottage industries and factories during their term. Did you know, a significant percentage of the country’s GDP is derived from MSMEs and it can be estimated that the majority of these enterprises are youth-owned?”

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Making The Youth Productive Via Industrialisation
Okoya added that “our youth have potential and can be stronger with greater empowerment. If you open the eyes of a blind man, he will never want to go back to the darkness. I think to myself regularly on how we utilise our dominant working population.

“The picture in my mind places all 36 states and the federal capital territory as industrial hubs, varying in speciality where the average Nigerian citizen should be able to live, work, shop, have access to healthcare and other conveniences (e.g., recreational, worship facilities etc.); all without leaving their state of origin, within their industrial hubs. Bringing this into realisation could be initiated through investment in incubation centres, in each state (dispersed based on the requirements and geographical advantages of the state).

“Preparing one-unit warehouses of approximately 5,000 sq m per cluster, having 10,000 of each unit/micro industry in each state including the federal capital territory, Abuja. Similarly, provision can be made to private estate developers to create infrastructural extensions in areas with existing low- income housing to include warehouses. This will enhance the appeal of opportunities in our rural states, transforming them into vibrant economic zones and serving as significant Industrial infrastructure for each state.”

Leveraging On International Connections
He pointed out that Nigerian government can invite specialists and international machine manufacturers (e.g. China/India etc.) to train graduates in vocational skills and provide crucial technology transfer through the sale of machinery, and equipment for daily need products in exchange for local minerals via the use of a barter trading system.

“By opting to further facilitate local manufacturing of products, the government can consider onward sales of the above-mentioned machines to the youth on a long-term basis.The government should protect our industries by imposing strict prohibitions of imports and policing the markets to enforce the ban on importation. With these, I believe we can conserve our precious foreign exchange, increase GDP, and strengthen our local markets/producers,” he stated.

Born on January 12, 1940, Rasaki Okoya is a billionaire industrialist with a Midas touch. He believes in Nigeria and says “We have promoted Made in Nigeria Products over the years.
The Eleganza Industrial City Limited is a testament to our vision as an establishment. It is a place where you find various products under one roof. Under the new industry, the company produces luggage/bags that can be branded for companies, pilgrimage, government parastatals and family trips. It also manufactures over 68 different designs of standard chairs for churches, parties, eateries, hotels etc. It also has sets of coolers and food warmers in different shapes and designs. This attests to the fact that consistency, not compromise on standard and quality have been the guiding principles that have kept the company going in the past four decades.

On his contributions to society, he has these to say, “Many of my activities revolve around religion and service to humanity through various philanthropy. This cut across the various sectors of the society. At various times, I have supported medical establishments and hospital homes by donating lifesaving equipment. With modesty, Eleganza is one of the biggest employers of labour by giving employment to thousands of Nigerians. I also believe in quality education and the foundation under my name in recent years has thrown its weight in support of the Nigerian educational sector. Several undergraduate students have benefited from his Alhaji Akanni Okoya Scholarship Awards.

He concluded that, “it took me 60 years to build the Eleganza conglomerate through dint of hard work. Nigerian youths are hardworking and resilience, if they can embrace hard work more and more, they will be successful because they have what it takes with enabling environment.”