en.Wedoany.com Reported - Lanre Okoya recently announced a business alliance with Les Ojugbana, a move that has drawn attention in Nigeria's investment and industrial circles. Lanre Okoya is the son of Eleganza Group founder Aare Razaq Okoya, while Les Ojugbana is the son of Chief F. E. Ojugbana, founder of MADEC Associates Nigeria Limited. Industry observers note that both individuals have not only inherited family business traditions but have also accumulated independent experience in manufacturing, agribusiness, and investment.
The alliance will focus on agriculture, industrial construction, agro-processing, and value chain opportunities, at a time when Nigeria is intensifying efforts toward economic diversification and food security. Lanre Okoya has been involved in manufacturing operations, food production, supply chain management, and industrial enterprise development, while maintaining a relatively low public profile. Eleganza Group, founded by Aare Razaq Okoya, is a well-known indigenous manufacturing conglomerate in Nigeria, with operations spanning household goods, plastics, furniture, cosmetics, and real estate.
Les Ojugbana has gained experience in agribusiness, investment development, and enterprise growth, while also engaging in philanthropy and youth empowerment. He founded and serves as Chairman of FarmAfrik, an agribusiness focused on agricultural productivity, greenhouse farming, farmer empowerment, and sustainable food systems. He also operates the Les Ojugbana Foundation, which supports youth empowerment, education, and entrepreneurial development. His business background stems from MADEC Associates Nigeria Limited, founded by his father, a company renowned for management development and corporate consulting services.
The core plan of this partnership is to build fertilizer production facilities across Nigeria to enhance agricultural productivity and reduce reliance on imports. Sources reveal that the two entrepreneurs are exploring opportunities to establish production plants in key agricultural corridors to improve farmers' access to affordable fertilizers. This initiative is expected to support Nigeria's agricultural transformation agenda by strengthening local supply chains, boosting crop yields, and alleviating foreign exchange pressures associated with fertilizer imports.
Industry analysts point out that fertilizer supply remains a critical challenge for Nigeria's agricultural sector, impacting productivity and food production capacity. The proposed project is expected to create jobs, stimulate industrial activity, and enhance manufacturing capabilities. The alliance is also considering a broader national fertilizer and food security initiative, which may involve building strategically located production facilities connected to warehousing, logistics, and distribution networks. Analysts believe such a structure could help stabilize supply, reduce import dependence, and improve access for farmers in major agricultural regions.
Observers view this collaboration as part of a shift toward private sector-led investment in agricultural and industrial development, as Nigeria seeks to expand food production and enhance economic resilience. Stakeholders indicate that if fully implemented, this initiative could significantly boost agricultural output, industrial growth, and job creation, while positioning the private sector as a stronger driver of food security and economic transformation.
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