Chief (Mrs.) Folashade Okoya (MON) stands out as a leading figure in the manufacturing sector. She has continued to shatter the glass ceiling in the male dominated terrain of the business industry. Smart, beautiful and intelligent, the Bewaji of Lagos who has been honoured and recognised both at the academic and national level knows her onions. Since mantle of leadership fell on her as the Managing Director of Eleganza Industries Limited, she has used her wands to turn the famous conglomerate around. She turned 47 yesterday, April 25 and also celebrated her 25th wedding anniversary. In this feature, ROTIMI IGE re-introduces the industrial genius and workaholic entrepreneur whose unmatched enterprising acumen continues to dazzle in the manufacturing industry.
It has been over 25 years since her path crossed with the industrial giant of the famous Eleganza industry, Chief Rasaki Akanni Okoya, but this amazing and talented diva has continued to shine like diamonds in the sky as a wife and mother and an outstanding entrepreneur. Her early years with the Aare of Lagos and landlord of Oluwanishola estate saw her raising four wonderful children. Done with child bearing, the Ogun State ljebu Ode born beauty ventured into manufacturing.
And having leaned the ropes under the tutelage of an established husband, this combined with determination, and interest, she soared. Today, she has held her head high and command respect as one of the outstanding business magnates in Nigeria.
With over 60 years of experience, Eleganza Industries has invested heavily in machines and molds. Now at the helm of Eleganza Industries limited, she oversees operations on a vast 35-acre site near the Pan Atlantic University on the Ibeju-Epe expressway.
The facility in the factory is state-of-the-art, producing a wide array of goods that meet both high-quality standards and international benchmarks.
She is proud of Eleganza exploit in manufacturing. “Take for instance the plastic chairs, their robustness, elegance, and durability are second to none. With over 200 diverse designs, it’s hard to believe these chairs are crafted in Nigeria—they rival global standards. Some feature upholstered seats, adding to their appeal”, she said during an encounter with journalists recently.
Continuing, she said, “We’re setting sights on exporting these chairs globally, confident that their distinctive designs and marketability will resonate worldwide. Their affordability is another plus, thanks to locally sourced materials from our petrochemical industry. Available in various colors and shapes, they’re perfect for any event, making venues both presentable and inviting.
Speaking further, she said they also cater for schools. ‘ln addition to our renowned chairs, we offer tables and desks that surpass traditional wood in durability and elegance. They’re cost-effective too, thanks to our use of local petrochemical materials, making them accessible for any school. Schools highly favour them for enhancing classroom aesthetics and student comfort.
Reeling out what has made Eleganza stands out over the years, she added, “Our cooling boxes and food warmers set us apart as West Africa’s pioneers. Despite growing competition, our standards remain unmatched. Our coolers are known for their superior durability and cooling efficiency, a testament to our unrivaled experience.
“Our casserole sets collection boasts over 150 patterns, combining durability with style, available in various colours. We lead in quality and durability, making us the top choice with no compromise on quality and affordability”.
Not limited to household items, it caters for babies, “For the little ones, our baby diapers are designed for extended wear without discomfort or rashes, ensuring durability and the utmost care for baby’s skin.
Managing an industry of this size is no easy fit for anyone, how has she been able to succeed in steering its affairs in a male-dominated warld, successfully?
“ To be honest it has not been easy but with hard work, determination and the Grace of God, we were able to scale through”.
For Mrs. Okoya, the sector she operates in has been beset by many challenges in the last few years (FX, input costs, energy costs etc); how are you navigating these challenges to stay afloat?
“Our biggest challenge is electricity because we strictly operate on generator which makes life not easy for us.”
Also, speaking on how industries have been urged to embrace backwards integration to reduce FX exposure, and how much of their needed materials are locally sourced, she responded saying, “On some products like our plastic products, almost 90 per cent are local materials, due to local petrol-chemicals.”
For her business acumen, she has been credited for a lot of the transformation efforts the business has undergone in the last decade, keeping Eleganza relevant.
“Well, I am humbled and at the same time give God the glory. The company has been in existence for almost 60 years. And having leaned under him, I decided to take the bull by the horns to team up collectively and bring it to life. I persuaded him to bring everything back alive that is why we are in our present new Iocation in Lekki -Epe Expressway”.
Her driving force? She emphasised that, ”My husband interest in industry is very high, it’s all his life and to enjoy my marriage I have to join force with him.’
Looking at current realities, what would she say about production costs and in turn, cost of goods, how best Nigeria can improve on industrialisation and her advice to revamp the sector for proper optimisation and growth.
“Yes there is a big hope for Nigeria, I join prayers with my husband that we should industrialise Nigeria especially our youths, we must teach them how to make good money. Cottage industry in all the states for this youth will be the answer with private finance and trade by barter with some countries to bring their machines in and teach our youths a lots of costs will be down and life will be normal and it will be less crime, that is my daily prayer some with our local endow materials rather than buying their finished products.
“By encouraging our youth which are in the majority as I have explained, there will be more millionaires in the country and majority will be happy, cost will be automatically forced down and crime will be a word of the past. The cottage industry is a minor procedure which does not require major capital or attention and yet it will give a lot of relief to our daily lives.”
As a major player in the plastics industry, how is she encouraging sustainability and recycling processes?
She said, “Recycling will be a lot of help and it makes cost cheaper and easier and it will be this part of cottage industry for the youth which will make life easier which is my daily prayer. Our products stand out for their excellence, with soaps that are unique, pleasantly perfumed, and produced on state-of-the-art German machines, disposable and reusable plastic cups and plates that are elegant, durable, and available in over 100 shapes, and a range of quality cosmetics for beauty, elegance, and comfort”.
Like many companies in Nigeria, despite her commitment to quality, Mrs. Okoya said she faces a significant challenge such as power supply. “Reliance on generators and diesel, production is difficult, but we are working hard to resolve this issue. We hope to overcome this hurdle within the few months.’
Yesterday, Thursday, April 25, the business magnate turned 47 and also marked 25 years of marital bliss with her soulmate, Alhaji Rasaki Okoya. Mrs. Okoya, no doubt, is a society icon and a head turner with stunning styles. But beyond this, she dedicates herself to the factory six days a week, from 9:30 am to 6:00 pm.
Her time is divided between the factory, her four children, her husband, and occasional social events on weekends. This University of Lagos trained graduate’s dedication, commitment to duty and style are truly inspiring.
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