Shade Okoya Biography: Age, Husband & Net Worth
Shade Okoya — Nigerian industrialist, MD of Eleganza Group, wife of Chief Rasaq Okoya. Discover her age, career, net worth, and awards.
Shade Okoya, born Folashade Nimota Adeleye on April 25, 1977, is one of Nigeria’s most prominent businesswomen and industrialists. She serves as the Managing Director of Eleganza Industrial City Limited, a key subsidiary of the Eleganza Group — one of Nigeria’s foremost manufacturing conglomerates. Known for her sharp business acumen, elegant style, and philanthropic spirit, she has carved an independent legacy that extends far beyond her marriage to billionaire industrialist Chief Rasaq Okoya.
From a modest upbringing in Lagos to overseeing a 35-hectare industrial facility employing over 3,000 people, Shade Okoya’s journey is one of purpose, discipline, and transformation. She holds chieftaincy titles, a national honour, and over 18 prestigious awards — making her one of the most decorated businesswomen in Nigeria today.
Quick Facts About Shade Okoya
| Detail | Information |
|---|---|
| Full Name | Folashade Nimota Okoya (née Adeleye) |
| Date of Birth | April 25, 1977 |
| Age (as of 2026) | 49 years old |
| State of Origin | Ijebu Ode, Ogun State |
| Ethnicity | Yoruba |
| Religion | Islam |
| Profession | Businesswoman, Industrialist, Philanthropist |
| Company | Eleganza Industrial City Limited (MD) |
| Husband | Chief Rasaq Akanni Okoya (CON) |
| Children | Olamide, Subomi, Oyinlola, Wahab |
| Net Worth | Estimated $10 million |
| National Honour | Member of the Order of the Niger (MON), 2022 |
Early Life and Family Background
Shade Okoya was born on April 25, 1977, into the family of Alhaji Tajudeen Adeleye and Alhaja Nimota Adeleye in Lagos State, Nigeria. She hails from Ijebu Ode in Ogun State and was raised in a devout Muslim household. She was the sixth of seven children, growing up in a modest but values-driven home where hard work and faith were central principles.
Her early years in Lagos shaped her worldview considerably. The city’s competitive, entrepreneurial energy combined with her family’s emphasis on discipline gave her a strong foundation. Even as a child, Shade demonstrated intellectual curiosity and a drive to achieve beyond her immediate circumstances.
Education
Shade Okoya began her formal education at St. Bernadette Nursery and Primary School in Lagos, attending between 1986 and 1991. She then proceeded to Awori Anglican Comprehensive High School for her secondary education from 1991 to 1997.
After secondary school, she enrolled at Lagos State Polytechnic from 1997 to 1999, where she obtained a National Diploma in Banking and Finance. She furthered her education at the University of Lagos between 1999 and 2004, earning a Bachelor of Science degree in Sociology — notably balancing her studies with the early demands of marriage and motherhood. In August 2014, she received an Honorary Doctorate in Business Management and Corporate Leadership from the European American University.
Rise at Eleganza: Building an Industrial Empire
Shade Okoya joined the Eleganza Group after her marriage to Chief Rasaq Okoya in 1999 and gradually worked her way into key leadership roles within the conglomerate. She currently serves as Managing Director of Eleganza Industrial City Limited, Managing Director of Eleganza Fashion Products Limited, and Managing Director of Eleganza Cruise and Travels Limited.
Under her leadership, Eleganza Industrial City — a sprawling 35-hectare facility along the Lekki-Epe Expressway — has grown into a manufacturing powerhouse. The facility produces plastic furniture, baby diapers, sanitary pads, coolers, luggage, cosmetics, and soaps, among other household goods. She expanded the company’s product lines strategically, positioning Eleganza for broader West African reach.
Her operational achievements are striking. She spearheaded the production of over 300,000 cartons of their flagship product in a single month. She also reduced factory production waste from over 2.5% to under 0.5%, while cutting factory running and maintenance costs by more than 45%. These results reflect not just ambition, but a methodical, data-driven approach to industrial management.
The Eleganza Group employs over 3,000 Nigerians and remains one of the country’s few locally-owned manufacturers of everyday consumer goods. Shade Okoya has been instrumental in ensuring the company’s continued relevance and competitiveness in an increasingly import-dominated market.
Personal Life and Marriage
In 1999, at the age of 21, Shade married Chief Rasaq Akanni Okoya — a billionaire industrialist, the Aare of Lagos, and the Chairman of the Eleganza Group. Chief Okoya was 59 at the time, making their 38-year age gap a subject of considerable public attention and debate. Despite the scrutiny, the couple has maintained a strong, celebrated union for over 25 years.
Shade has spoken warmly about her husband’s influence on her career: “My husband saw the passion in me when I could not see it myself. He encouraged and moulded me.” The couple celebrated their 25th wedding anniversary in 2024. Together they have four children: Olamide, Subomi, Oyinlola, and Wahab.
Philanthropy and Community Service
Shade Okoya is deeply committed to giving back to her community. She sponsors the annual Folashade Okoya Kids Cup, a football tournament for children held during the Christmas season in collaboration with the Lagos State Grassroots Soccer Association, which debuted in December 2014.
She also awards scholarships to ten students annually, supporting access to higher education for young Nigerians. Additionally, she organises annual pilgrimages to Mecca for Muslims in her community, reflecting the strong spiritual values at the core of her public life.
Awards, Honours, and Chieftaincy Titles
Shade Okoya has received over 18 awards throughout her career. Key recognitions include:
- Honorary Doctorate in Business Management and Corporate Leadership — European American University, August 2014
- Business Executive of the Year 2014 — International Centre for Corporate Leadership for Africans and Blacks in Diaspora
- Inspiring Executive Woman of the Year — July 2018
- Member of the Order of the Niger (MON) — conferred by President Muhammadu Buhari, October 11, 2022
- 20 Outstanding Women in Nigeria — The Sun Newspaper, June 2024
- Distinguished Alumni Award — University of Lagos Alumni Association, October 2025
- Arise Gala: Women Making Impact 2025 — Arise News Channel, March 2025
She also holds traditional chieftaincy titles including Bewaji of Lagos, Otun Aare Iyalaje of Ajiranland, and Yeye Oge of Epe Land.
Net Worth and Financial Profile
Shade Okoya’s net worth is estimated at approximately $10 million as of 2026. Her wealth is derived from her executive roles within the Eleganza Group, her board-level positions across multiple subsidiaries, and her personal business interests. Her financial standing reflects decades of disciplined leadership within one of Nigeria’s most enduring industrial conglomerates.
Final Thoughts
Shade Okoya is far more than a billionaire’s wife — she is a builder, a leader, and a symbol of what focused ambition can achieve. Her journey from the sixth child of a Lagos family to the managing director of a major industrial city is a testament to the power of education, mentorship, and relentless work ethic.
As she continues to steer Eleganza into new markets and inspire the next generation of Nigerian businesswomen, her legacy grows richer. Shade Okoya has earned her place not just in Nigeria’s business history, but in the broader story of African women who lead with excellence.
Frequently Asked Questions
Q1: Who is Shade Okoya?
Shade Okoya, born Folashade Nimota Adeleye on April 25, 1977, is a Nigerian businesswoman and industrialist. She is the Managing Director of Eleganza Industrial City Limited and is married to billionaire industrialist Chief Rasaq Okoya. She is one of Nigeria’s most awarded and influential women in manufacturing.
Q2: How old is Shade Okoya?
Shade Okoya was born on April 25, 1977, making her 49 years old as of 2026. She celebrates her birthday on April 25 every year.
Q3: Who is Shade Okoya’s husband?
Her husband is Chief Rasaq Akanni Okoya (CON), a billionaire industrialist, the Aare of Lagos, and Chairman of the Eleganza Group of Companies. They married in 1999 when Shade was 21 and Chief Okoya was 59.
Q4: How many children does Shade Okoya have?
Shade Okoya and Chief Rasaq Okoya have four children together: Olamide, Subomi, Oyinlola, and Wahab.
Q5: What is Shade Okoya’s net worth?
Shade Okoya’s net worth is estimated at approximately $10 million as of 2026. Her wealth comes from her executive and directorial roles within the Eleganza Group and its subsidiaries.
Q6: What company does Shade Okoya run?
She is the Managing Director of Eleganza Industrial City Limited, a 35-hectare manufacturing facility on the Lekki-Epe Expressway in Lagos. She also heads Eleganza Fashion Products Limited and Eleganza Cruise and Travels Limited.
Q7: What national honour does Shade Okoya hold?
In October 2022, President Muhammadu Buhari conferred on Shade Okoya the national honour of Member of the Order of the Niger (MON) in recognition of her contributions to Nigeria’s industrial growth and national development.
