Veteran businessman, Ali Akinyele, is dead

Ali Oladeinde Akinyele, the founder of AkinOcean Nigeria and Allison Foam, two prominent manufacturing companies in Nigeria, has passed away at the age of 78.

According to family sources, Akinyele died on Wednesday after a brief illness.

Born on April 18, 1947, into the royal family of Agata Shokun Onilegbale in Isale Eko, Lagos, Akinyele began his career as a draughtsman before venturing into business, where he built a legacy as a respected industrialist and entrepreneur.

He later developed his entrepreneurial skills as a Trainee Business Associate at Isiaka Rabiu and Sons in Kano, where he worked under the mentorship of industrialist Alhaji Isiaka Rabiu.

Akinyele went on to establish AkinOcean Nigeria and Allison Foam, both of which became notable names in Nigeria’s manufacturing sector.

During the period, he mentored a host of young entrepreneurs, including the future BUA Group Chairman, and subsequently ventured out to establish successful enterprises.

A devoted Muslim and renowned philanthropist, Alhaji Akinyele was known for widespread generous support for various human development initiatives.

Survived by his wife, children and grandchildren, he assisted many small businesses to grow and donated handsomely to religious and charity organizations.

Islamic funeral prayers will be held at the Community Central Mosque at Alausa Secretariat, followed by interment at the Abari Cemetery in Lagos Island.