Electricity is key to ease of doing manufacturing business – The Nation Newspaper

47 year-old Dr. Folashade Okoya, a leading figure in the manufacturing sector, celebrated her 25th wedding anniversary with her illustrious husband, Chief Akanni Okoya, founder of Eleganza Industries Limited, yesterday. 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, Lagos. 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. Genius and workaholic, she dedicates herself to the 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. Her dedication and style are truly inspiring. Dr. Okoya spoke with reporters on her business concerns and vision for the growth of the conglomerates. Excerpts by Deputy Editor EMMANUEL OLADESU.

Managing an industry of this size is no easy fit for anyone. As a woman-wife and mother-how have you  been able to succeed in steering its affairs in a male-dominated world, 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.

It is a manufacturing sector beset by many challenges in the last few years like 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.

Industries have been urged to embrace backwards integration to reduce FX exposure. How much has this helped you and how much of your needed materials are locally sourced?

On some products like our plastic products, almost 90% are local materials, due to local petrol-chemicals,

You have been credited for a lot of the transformation efforts this business has undergone in the last decade. Tell us about about them and how they have kept Eleganza relevant…

I brought the present Eleganza to life because my husband has already lost interest due to his first disappointment in the past, I persuaded him to bring everything back alive that is why we are in our present new Incation after Eleko at Ijebu.

What will you say has been your driving force and motivation?

My husband interest in industry is very high, its all his life and to enjoy my marriage I have to join force with him

Looking at current realities, would you say high production costs and in turn, high cost of goods, would abatesoon?

Yes. There is a big hope for Nigeria, I join prayers with my husband that we should industrialize 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.

Manufacturing is the bedrock of any economy, how best can Nigeria improve on industrialization?

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

If given the opportunity, what would you do/advice can be done to revamp this sector for proper optimization and growth?

Ans: Cottage industry is a minor procedure which does not require major capital or attention and yet it will give alot of relief to our daily lives.

As a major player in the plastics industry, how are you encouraging sustainability and recycling processes?

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.

Your business has been in existence for six decades, what are you doing to ensure its continuity for many more years?

That’s why am involved with my children and by the grace of God we will not disappoint the creator, Chief Rasak Okoya CON.

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.

• The Nation