Research on Elizade Nigeria Limited - 1686 Words

A BRIEF BIOGRAPHY ON THE ENTERPRENEUR Chief (Dr.) Michael Ade Ojo was born on June 14, 1934 at Ilara-Mokin in Ondo State, South West of Nigeria. He studied Business Administration at the University of Nigeria, Nsukka (UNN) and graduated in June, 1965. He has worked with some multinational companies including C.F.A.O., the then British Petroleum (BP) now African Petroleum Plc. Today he is the proud owner of ELIZADE NIGERIA LIMITED with several subsidiaries including Toyota Nigeria Limited, Oodua Creations Limited, Crown and Gold Shipping Company Limited among others. He is the Chairman of various Companies including Moorhouse Sofitel Limited, Imperial Telecommunications Limited, Custodian and Allied Insurance Company Limited. He setup†¦show more content†¦As a marketer in BP, he was disappointed when a man he outclassed was promoted to become his direct boss. This he considered very unfair especially because he had just then helped boost the company’s sales by about 25% with the winning over of a new contract. He left the job to serve himself at a time when it was considered stupid to leave the certainty of a colonial job for the uncertainty of private enterprise. The result was the establishment of a small family business (with his wife) now known as ELIZADE NIGERIA LIMITED. HOW THE BUSINESS WAS ESTABLIHED His Start up – funding: Chief Michael Ade Ojo did not make it that easily; he started with the little money he was able to save at the time he was working combined with the help from his wife. Registration of the business: In 1968, he registered a business name Known as Elizade Trading Stores handling general textile sales including underwear under the 1968 Companies Decree (now known as Companies and Allied Matters Act 1990 as amended), but later started business as an automobile marketing company named Elizade Independent Agencies formed in 1971. By 1973 Elizade Trading Stores and Elizade Independent Agencies were merged and Elizade Nigeria Limited was incorporated and in 1976 the company secured Federal Government License which was dealing in Toyota vehicles and spare parts in Nigeria. Procuring