Get to know Louis Odumegwu Ojukwu; he is reportedly the first Nigerian billionaire and the founding president of the Nigerian Stock Exchange. He established his wealth during the colonial era. When he died in 1966, his wealth was $4 billion in today’s economic value, Forbes Africa reported in 2018.

At the age of 20, he came to Lagos from Nnewi in 1929 after his education at Hope Waddell Training Institution, Calabar. Within 10 years of his arrival in Lagos, he became one of the richest men in the country.

Ojukwu made his money by importing dried fish for resale and diversifying into textiles, cement, and transportation. He established Ojukwu Transport, Ojukwu Stores, and Ojukwu Textiles.

Prior to entering the world of business, he worked in Nigeria’s agriculture department and later joined John Holt as a tire sales clerk before diversifying into the textile and transport sectors.

Later in his life, Queen Elizabeth II knighted him, earning him the title “Sir.” The honor came after he helped the British during World War II with his fleet of trucks. He also had the privilege of chauffeuring the Queen when she visited Nigeria, at the request of the colonial administration. At the time, he was the only person in Nigeria to own a Rolls-Royce.

According to the Punch Newspaper, he co-authored a report on the Economic Mission to Europe and North America, in which he recommended investing extra funds from the produce marketing board in a regional bank and public corporations to stimulate economic development.

Born Louis Philip Odumegwu Ojukwu in Nnewi in 1909, the entrepreneur was the only boy and second of four children. He went to the Government Primary School in Asaba and attended the Hope Waddell Training Institute, which he completed in 1928.

While working with John Holt in Lagos as a tire sales clerk, Ojukwu noticed that many Igbo traders who came to Lagos to buy tires also bought textiles as well. So, with his meagre savings, he traveled to Onitsha where he opened his first business venture, “Ojukwu stores”, selling textiles.

Following the success of his textile business, he ventured into the truck industry. The truck was used to move his goods, and “Ojukwu Transport Company” was born. In no time, his fleet of trucks numbered 200.