One of the richest and most famous businessmen in Nigeria is dead. Olorogun Michael Ibru is not with us anymore.
Olorogun Michael Ibru, business mogul, patriarch of famous Ibru family is dead.
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85-year-old, he died on September, 6th in his house in Maryland, United States. After that thousands of people came there to say goodbye to him. Michael had been suffering from an undisclosed ailment for the last 10 years.
What is more, some weeks ago, one of his brothers was buried. Another one, The Guardian publisher Alex Uruemu Ibru, died on November 20, 2011.
His success history is really interesting and inspiring. Ibru was born in family of Peter Ibru, a missionary worker. After his secondary education at Igbobi College in 1951, he joined the United African Company (UAC), as a management trainee.
In 1956, a few years after joining the U.A.C, fired from the company and started a partnership, which he called Laibru. He also cooperated with an expatriate, Jimmy Large. After having some success, in 1957 Michael discovered that the seafood export could bring great income.
After his decision to export fish, he established big and important company. He also rented and built cold storage facilities across the country. In a few years this business became money spinner for Ibru and his organization.
He cooperated with Osadjere Fishing Company. Some time later he established a transportation company, called Rutam; he also invested in palm oil production. Over the years more organizations of different industries were established by him.
Michael Ibru is known as a person, who established modern Nigerian owned groups with other figures such as the low key Bode Akindele.
He was married to Cecilia Ibru, former managing director of the defunct Oceanic Bank. Besides he had 4 wives and 17 children.
Ibru also was a governorship candidate in the defunct Bendel Stat which today is split into Edo and Delta State, but lost to Chief Samuel Ogbemudia.
He was also a member of the Liberal Convention and the New Movement, which metamorphosed to become National Republican Convention (NRC), one of the two political parties in the military President Ibrahim Babangida’s aborted Third Republic between 1990 and 1993.
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