Omolayo, competing in the women’s -79kg lifted 141kg to claim the gold medal in the event.
The Genius Media Nigeria reports that her win means all four of Team Nigeria’s medals (two gold and two bronze) have all come from powerlifting.
She now joins Latifat Tijani as the only Nigerian athletes who have won gold at the Tokyo games.
Olaitan Ibrahim and Lucy Ejike picked up the two bronze won so far by the country.
Team Nigeria now placed 24th on the medal table with China topping and are followed by Great Britain.