Doing Business Deliberately: Michael Ade-Ojo, Owner of Elizade Motors

1 July 24, 2017 By Dang

Doing Business Deliberately: Michael Ade-Ojo, Owner of Elizade Motors.

Born to a poor family in the western part of Nigeria; at a very young age, Micheal became a street hawker selling matchsticks, charcoal, and clearing weeds to support his family.

While studying at the University, he had difficulties paying his fees, he also could barely feed but he got involved with a young lady, who often gave him meal tickets so he could feed at the cafeteria. One day, she gave him $63, her entire pocket for the 1962/63 academic year. That lady eventually became his wife and business partner with whom he started Elizade- Elizabeth and Ade.

After his graduation, he joined the work force at CFAO motors; a French distribution company. This same company had paid the tuition for his last two years in the university. He later moved on, and got a job at British Petroleum (BP).

During his annual British Petroleum (BP) holiday, he decided to take a daring step to approach the RT Brisco Group; an importer and distributor of trucking and automobile equipments. He made them an offer to sell their equipments for a commission on every successful sale.

In just four months after he sealed the deal with Brisco, he sold about 40 cars. The commissions earned from the total sales, were overwhelmingly higher than his yearly salary at BP. This motivated him to quit his job, and pursue his dreams.

He acquired the license to import Toyota Cars, with the name, Toyota Nigeria Limited, and single handedly, made the car brand, the most sought-after automobile brand in Nigeria. He later went on to acquire 100% of RT Briscoe in Nigeria, and subsequently acquired more shares, to make his total holdings in Toyota Nigeria Limited, sum up to 74%.

In August 2015, Forbes Africa dedicated its cover story to the entrepreneur, who was presented as one of the great business leaders on the African continent. He became a multimillionaire in the automobile industry starting with only $63 in capital.

Micheal Ade-Ojo had specific plans about the emergence of his business, being an employee didn’t stop him from deliberately setting out to put them into action. Today, his estimated worth is $3.2Billion.

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