Ibru Organization
Encyclopedia
The Ibru Organization, established in 1956, became one of the largest conglomerates in Nigeria
. By 1990 it had between 9,000 and 11,000 employees.
By 2009 the Ibru Organization was a multi-billion dollar business with interests that included shipping, agriculture, aviation, banking, oil and gas.
from Agbarha-Otor, near Ughelli
in Delta State
.
The family patriarch was Chief Peter Epete Ibru, a missionary who worked for much of his life in Yorubaland
.
His wife Janet Omotogor Ibru was the matriarch of Ibru dynasty, aged 97 years when she died on 15 March 2006.
She was a trader, and was closely involved in the organization.
The founder of the firm was their son Michael Ibru
.
Michael gained a secondary education at Igbobi College, then worked for the United Africa Company
from 1951 until 1956. That year, aged 24, he partnered with Jimmy Large, an Englishman, to form the Laibru general trading company, and also bought a share of Ace Jimonma, a construction firm.
Although freshwater fishing was a major agricultural activity in Nigeria at the time, Ibru saw that this would change with economic development, opening a market for frozen fish.
At first he ran into technical problems with supply and also met consumer resistance. Two joint ventures both failed. He then formed Ibru Sea Foods as the sole owner, importing the frozen fish and at first trading from the back of a truck. He expanded quickly, chartering his first fishing boat in 1963, and in 1965 founding a fishing company with three freezer trawlers as a joint venture with a Japanese firm. Despite setbacks, the fishing fleet had grown to as many as 25 trawlers in the 1970s, and Ibru had 200 transport vehicles. Ibru had also expanded into vehicle distribution and fruit growing.
The organization continued to grow through acquisitions and joint ventures in diverse businesses including brewing, construction and petroleum distribution, with varying degrees of success. The company also acquired extensive holdings of real estate for agriculture and industrial activity. The recession of the early 1980s caused by falling oil prices, combined with import restrictions, forced contraction and a restructuring at the end of the 1980s. By this time, Michael's eldest son Olorogun Oskar Ibru had joined the boards of companies in the organization.
Chief Michael Ibru helped his brothers with their education, gave them stakes in the Ibru organization and helped them to branch out on their own. Alex Ibru
, chairman of Rutam Motors, met with newspapermen Stanley Mecebuh of the Daily Times of Nigeria
, Dele Cole also formerly of that paper and Segun Osoba, formerly of the Nigerian Herald. With 55% funding from the Ibrus, they launched the The Guardian
in 1983, with Alex Ibru as chairman.
Alex was minister of Internal Affairs from 1993 to 1995.
Goodie Ibru, who had qualified as a commercial lawyer, became president of the Nigerian Stock Exchange and chairman of Ikeja Hotels.
Felix Ibru
studied architecture in Israel, and after teaching at Yaba College of Technology
established an architectural firm, Entering politics, in 1992 Felix became governor of Delta State
.
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
. By 1990 it had between 9,000 and 11,000 employees.
By 2009 the Ibru Organization was a multi-billion dollar business with interests that included shipping, agriculture, aviation, banking, oil and gas.
Origins
The Ibru family are Urhobo peopleUrhobo people
The Urhobo are people of southern Nigeria, near the northwestern Niger River delta. The Urhobo is the major ethnic group in Delta State; the Delta State is one of the 36 states of the Federal Republic of Nigeria. They speak Urhobo, a language in Niger–Congo group...
from Agbarha-Otor, near Ughelli
Ughelli
Ughelli is a town in Delta State, Nigeria. The city of Ughelli has an 'Ovie', which is the traditional ruler. The indigenes of Ughelli town have a yearly celebration festival called 'Omanuku'...
in Delta State
Delta State
Delta State may refer to:*Delta State, a state in southern Nigeria.*Delta State , a Canadian animated television series.*Delta State University, a public university located in the U.S. state of Mississippi....
.
The family patriarch was Chief Peter Epete Ibru, a missionary who worked for much of his life in Yorubaland
Yorùbáland
Yorubaland, or Yorùbáland , is a cultural region in Nigeria, Benin, and Togo that includes the indigenous territory and cultural reach of the Yoruba people.- History :-Settlement:Oduduwa is regarded as the legendary progenitor of the Yoruba...
.
His wife Janet Omotogor Ibru was the matriarch of Ibru dynasty, aged 97 years when she died on 15 March 2006.
She was a trader, and was closely involved in the organization.
The founder of the firm was their son Michael Ibru
Michael Ibru
Michael Ibru is a prominent Nigerian businessman from Agbarha-Otor, Delta State. He is the head of the Ibru Organization, one of the largest conglomerates in Nigeria. As a traditional chieftain of his homeland, Ibru bears the tribal honourific Olorogun and often uses it as a pre-nominal style...
.
Michael gained a secondary education at Igbobi College, then worked for the United Africa Company
United Africa Company
The United Africa Company was a British company which principally traded in West Africa during the 20th century.The United Africa Company was formed in 1929 as a result of the merger of the Royal Niger Company, which had been effectively owned by Lever Brothers since 1920, and the African &...
from 1951 until 1956. That year, aged 24, he partnered with Jimmy Large, an Englishman, to form the Laibru general trading company, and also bought a share of Ace Jimonma, a construction firm.
Expansion
Starting in 1957, Ibru was a pioneer in distributing frozen fish in Nigeria.Although freshwater fishing was a major agricultural activity in Nigeria at the time, Ibru saw that this would change with economic development, opening a market for frozen fish.
At first he ran into technical problems with supply and also met consumer resistance. Two joint ventures both failed. He then formed Ibru Sea Foods as the sole owner, importing the frozen fish and at first trading from the back of a truck. He expanded quickly, chartering his first fishing boat in 1963, and in 1965 founding a fishing company with three freezer trawlers as a joint venture with a Japanese firm. Despite setbacks, the fishing fleet had grown to as many as 25 trawlers in the 1970s, and Ibru had 200 transport vehicles. Ibru had also expanded into vehicle distribution and fruit growing.
The organization continued to grow through acquisitions and joint ventures in diverse businesses including brewing, construction and petroleum distribution, with varying degrees of success. The company also acquired extensive holdings of real estate for agriculture and industrial activity. The recession of the early 1980s caused by falling oil prices, combined with import restrictions, forced contraction and a restructuring at the end of the 1980s. By this time, Michael's eldest son Olorogun Oskar Ibru had joined the boards of companies in the organization.
Family members
The Ibru family was close, with all members involved in the business. Talking at Michael Ibru's 80th birthday celebration in January 2011, his eldest son Oskar said "The only thing I can say about my family is that we grew up as team. We were like a bunch of broom sticks".Chief Michael Ibru helped his brothers with their education, gave them stakes in the Ibru organization and helped them to branch out on their own. Alex Ibru
Alex Ibru
Alex Ibru was a Nigerian businessman, founder and publisher of The Guardian newspaper, who was Minister of Internal Affairs from 1993 to 1995 during the military regime of General Sani Abacha.-Background:...
, chairman of Rutam Motors, met with newspapermen Stanley Mecebuh of the Daily Times of Nigeria
Daily Times of Nigeria
The Daily Times of Nigeria is a newspaper with headquarters in Lagos, Nigeria.At its peak, in the 1970s, it was one of the most successful locally owned businesses in Africa....
, Dele Cole also formerly of that paper and Segun Osoba, formerly of the Nigerian Herald. With 55% funding from the Ibrus, they launched the The Guardian
The Guardian (Nigeria)
The Guardian is an independent daily newspaper published in Nigeria by Guardian Newspapers Limited.The Guardian has been described as "Nigeria's most respected newspaper".-Foundation:...
in 1983, with Alex Ibru as chairman.
Alex was minister of Internal Affairs from 1993 to 1995.
Goodie Ibru, who had qualified as a commercial lawyer, became president of the Nigerian Stock Exchange and chairman of Ikeja Hotels.
Felix Ibru
Felix Ibru
Olorogun Felix Ovudoroye Ibru is a Nigerian architect, Senator and former First democratic Governor of Delta State. Currently he holds the position of President General of the Urhobo Progressive Union ....
studied architecture in Israel, and after teaching at Yaba College of Technology
Yaba College of Technology
Yaba College of Technology, founded in 1947, is Nigeria's first higher educational institution. It is located in Yaba, Lagos. The college is a center of culture and heritage...
established an architectural firm, Entering politics, in 1992 Felix became governor of Delta State
Delta State
Delta State may refer to:*Delta State, a state in southern Nigeria.*Delta State , a Canadian animated television series.*Delta State University, a public university located in the U.S. state of Mississippi....
.