Foremost industrialist, Chief Rasak Okoya, turned 84 on January 12, 2024. The Aare of Lagos, who is the founder of Eleganza Group of Companies and RAO Investment Properties, in this interview in commemoration of his birthday, speaks on how Nigeria can solve the problem of wealth creation….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

Using his vast experience as someone who made wealth through hard work and consistency, Okoya speaks on alternatives available to youths across the country. 

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.

Unemployment is a major challenge in the country. How can it be addressed through job creation?

I have decided to use this opportunity to propose a recurring vision that has plagued me. My warmest regards and congratulations to President Bola Tinubu and Vice President Kashim Shettima for their steady management of the economy. We pray for a peaceful and successful term ahead. 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. It should also consider utilising our youths and empowering them through the establishment of cottage industries and factories during their term.

Did you know that a significant percentage of the country’s GDP is derived from MSMEs and it can be said that majority of these enterprises are youth-owned?

Our youths have the 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 darkness. I ask myself regularly how we can utilise our dominant working population. The picture in my mind places all 36 states and the Federal Capital Territory as industrial hubs, engaged 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 states of origin within their industrial hubs.

Bringing this into realisation could be initiated through investment in incubation centres in each state based on the requirements and geographical advantages of the state. This can be done by preparing one-unit warehouses of approximately 5,000 sq m per cluster, having 10,000 of each unit/micro industry in each state including Abuja. Similarly, provision can be made for 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. Government should also consider leveraging on international connections.