Nigerian billionaire industrialist Razaq Okoya has opened up about his succession plans, revealing that he intends to pass his vast business empire to his younger children. The founder of Eleganza Group said the decision is deliberate and shaped by lessons learned over the years.

Speaking on his long term vision for the family business, Okoya explained that he is focused on grooming the younger generation to take over leadership when the time comes. According to him, continuity and stability are at the heart of the plan.

“I want to pass everything to my younger children because I don’t want them to fail like the senior ones,” he said, suggesting that past experiences influenced his approach to succession planning.

The billionaire businessman emphasized that leadership goes beyond inheritance. He noted that discipline, focus, honesty, determination and punctuality are values he considers essential for sustaining a multi billion naira enterprise.

Okoya said his younger children are already being exposed to the operations of the business. From visits to factory floors to understanding production processes and management structures, he believes practical experience is key to preparing them for the responsibility ahead.

He also stressed that inheriting a successful company does not automatically guarantee success. According to him, it is important for the next generation to understand the sacrifices and strategic thinking required to build and sustain a thriving business empire.

The Eleganza Group, known for its manufacturing and consumer goods operations, has remained one of Nigeria’s notable indigenous conglomerates. Okoya’s comments have sparked conversations online about succession planning among wealthy Nigerian families and the challenges of managing generational wealth.

Observers say the decision highlights the growing focus among business leaders on structured transition plans to avoid internal disputes and business decline after the founder steps aside.

While the businessman did not go into full details about timelines or legal arrangements, his remarks suggest a carefully structured handover process designed to ensure the long term survival of his enterprise.

The conversation around Razaq Okoya succession plan continues to trend, especially as many entrepreneurs and corporate leaders consider how best to secure the future of their companies beyond their lifetime.