Dr. Folashade Okoya, MON, the Managing Director of Eleganza Industrial City Limited, is poised to receive the Distinguished Alumni Award from the University of Lagos during its 55th anniversary awards and recognition gala scheduled for October 17, 2025.
The ceremony, set to take place at Eko Hotel and Suites, will honour exceptional alumni who have made significant contributions to Nigeria’s industrial and commercial landscape.
Mrs. Okoya’s accolade underscores her outstanding leadership in developing Eleganza Industrial City into one of Nigeria’s premier privately-owned manufacturing centers. The facility employs over 3,000 Nigerians and manufactures a broad spectrum of fast-moving consumer goods. Her evolution from a Sociology student at the University of Lagos to a powerhouse in the manufacturing sector exemplifies determination, foresight, and entrepreneurial prowess.
The event’s guest of honour will be the Vice-President of Nigeria, Senator Kashim Shettima, GCFR, with the distinguished medical practitioner and Ogbeni Oja of Ijebu-Land, Olor’ogun Dr. Sonny Kuku, serving as chairman. The chief host is Engr. Ifeoluwa Ayodele, president of the University of Lagos Alumni Association worldwide.
Other notable figures to be celebrated alongside Dr. Okoya include the Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON; the Inspector General of Police, Mr. Kayode Egbetokun, Ph.D; and former Attorney General of the Federation, Chief Bayo Ojo, SAN.
Mrs. Shade Okoya’s corporate journey is truly inspiring.
Since graduating, she has emerged as a quintessential role model, a formidable business leader, and a thriving entrepreneur. The education she received at the University of Lagos equipped her with the expertise, insight, and character necessary to excel independently, demonstrating resilience and innovation.
Known for her diligence and intellect, Mrs. Okoya initially pursued Banking and Finance before earning a Bachelor of Science degree in Sociology from the University of Lagos. She has successfully managed multiple enterprises, and this recognition from her alma mater affirms her exceptional achievements and her role as a distinguished ambassador of the university through exemplary leadership and brilliance.
Born on April 25, 1977, in Lagos, Chief (Dr.) Mrs. Shade Okoya (MON) (née Adeleye) hails from Ijebu Ode in Ogun State. Her formative years were spent in Lagos, where she attended St. Bernadette Nursery and Primary School from 1986 to 1991, followed by Awori Anglican Comprehensive High School for her secondary education between 1991 and 1997.
She furthered her studies at Lagos State Polytechnic from 1997 to 1999, focusing on Banking and Finance, before enrolling at the University of Lagos from 1999 to 2004 to study Sociology. Remarkably, she balanced motherhood with her academic pursuits and excelled in both.
Mrs. Okoya’s guiding principles have always been twofold: first, her overarching vision-to achieve meaningful success through reverence for God, dedication to humanity, unwavering commitment to her work, and profound love for her family; second, her career ambition-to be a relentless beacon of selfless dedication, advancing her profession while contributing to the progress of her nation and society. She has fulfilled these aspirations and continues to do so.
Currently, she leads Eleganza Industrial City Ltd as Managing Director, overseeing the company’s daily operations.
Established in 2012, Eleganza Industrial City spans over 35 hectares along the Lekki-Epe Expressway. The company has strategically positioned itself within the manufacturing sector, specializing in the production of high-quality fast-moving consumer goods. Its diverse product line includes plastic chairs and tables of various sizes, luggage, cooling boxes and food warmers, casseroles, baby diapers and sanitary pads, hair threads, stainless steel and plastic water tanks, footwear, and plastic bottles, among others. Employing more than 3,000 workers, the company significantly contributes to employment in Lagos State and its environs. Eleganza Industrial City aspires to become Nigeria’s leading indigenous manufacturer of household products within the next two years and plans to expand its export footprint across Africa.
Managing such a vast enterprise presents challenges, but Mrs. Okoya draws on her inner resilience and the invaluable experience gained under the mentorship of her billionaire husband, industrialist Chief Rasaki Akanni Okoya, CON.
“The obstacles I have encountered have only fortified my resolve to become a consummate professional who pursues goals with unwavering focus until they are realized,” she reflects.
“I am deeply honoured to receive this award from my alma mater. This achievement would not have been possible without the encouragement and inspiration from my husband, Chief Alhaji (Dr.) Rasaq A. Okoya (CON), whose belief in me has been a constant source of strength and motivation.”
“He recognized my potential even when I doubted myself and nurtured it, enabling me to reach this point. Everyone needs such a mentor, and I am fortunate to have found mine.”
Beyond Eleganza Industrial City Limited, Mrs. Okoya also serves as Managing Director of Eleganza Fashion Products Limited and Eleganza Cruise and Travels Limited. Additionally, she holds board memberships at Eleganza Group and RAO Investment Property Company Limited.
She is happily married to the respected and enterprising businessman Alhaji Chief (Dr.) Rasaq Akanni Okoya (CON), and together they are blessed with four wonderful children.
Over the past 15 years, Mrs. Okoya has garnered more than 18 accolades, including an honorary Doctor of Science (DSC) in Business Management and Corporate Leadership from the European American University Senate in 2014. That same year, she was named Most Valuable Business Executive by the International Centre for Corporate Leadership for Africans and Blacks in Diaspora. Earlier this year, she was honoured alongside 65 other influential Nigerian women at an awards ceremony hosted by Arise Television. She also holds the chieftaincy titles of “Bewaji of Lagos” and “Otun Aare Iyalaje of Ajiranland.”
Other distinguished personalities to be recognized at the event include Chief Justice of Nigeria Hon. Justice Kudirat Kekere-Ekun, GCON; Inspector General of Police Mr. Kayode Egbetokun, Ph.D; former Attorney General Chief Bayo Ojo, SAN; Chairman of Channels Media Group Dr. John Momoh; Sahara Group’s Group Managing Director Mr. Kola Adesina; Life Director of Folawiyo Group Chief Tunde Fanimokun; industrialist and Premier Lotto Ltd Chairman Chief Kessington Adebukunola Adebutu, CON; legal luminary and University of Lagos Pro-Chancellor Chief Wole Olanipekun, SAN; Head of Service of the Federation Mrs. Didi Esther Walson-Jack, OON; former Governor and current Senator Ibrahim Hassan Dankwambo, PhD; The Asagba of Asaba His Royal Majesty Prof. Epiphany Azinge, SAN; and Senate Majority Leader Senator (Dr.) Michael Opeyemi Bamidele, CON.
