The Story Of Nigeria’s 1st Frozen Fish Merchant And How He Became Rich From It

Driven by an entrepreneurial spirit and the desire to break away from conventional Nigerian businesses, Michael Ibru launched his frozen fish venture in 1957, despite doubts from many who dismissed it as a foolish idea.
At the time, frozen fish was a product with little demand in Nigeria, and previous attempts by Europeans to introduce it in the country had failed.

However, Michael Ibru boldly pushed forward, even as Nigerians mockingly referred to his product as “mortuary fish.”
With strong family support, including from his mother, who played a key role in setting prices for the fish, and his father, who acted as financial manager, Michael embarked on a strong marketing campaign that convinced Nigerians that frozen fish wasn’t only good but amazing

Michael, born in 1930 as the eldest of seven children, grew up in a missionary family in the Niger Delta, where his mother sold fish to support them during the colonial era.
From a young age, Michael had proved to be brilliant, excelling in academics and extracurricular activities.
By 1948, he had progressed directly from elementary school to secondary school, eventually passing the Cambridge School Certificate Examination with distinction.
In 1951, a young Michael Ibru began his career as a manager-in-training at the United African Company (UACN), where he met Jimmy Large, an Englishman who would later help him establish Laibru, a trading company.

Seeing the growing demand for seafood that was outpacing fresh catches among Nigerians, Michael established distribution depots across the country.
His business thrived, and Laibru grew into one of Africa’s largest indigenous conglomerates. By the mid-1960s, Michael had become a millionaire, with Ibru Sea Foods capturing about 60 percent of Nigeria’s frozen fish market and generating substantial revenue
As Michael’s success continued, he expanded into various industries. He acquired Aden Farm, a large plantation producing palm oil, citrus, and pineapple, and Mitchell Farm, which became the largest supplier of day-old chicks and processed poultry in West Africa.
He also established Rutam, a transportation division, and ventured into logging, sawmilling, and wood processing by acquiring Nigerian Hardwoods in 1974.

Michael’s business empire further extended into petroleum oil and storage, banking, aviation, publishing, beer brewing, hospitality, and insurance. Notable ventures included Ibafon Oil Limited, Oceanic Bank, Aero Contractors, The Guardian, Lagos Sheraton, and Federal Palace
He died on the 6th of September, 2016 at a medical facility in the United States. He is survived by his wife, Nigerian banker Cecilia Ibru, and several children and grandchildren.
Despite his passing, Michael’s Ibru Organization continues to thrive, growing through acquisitions and joint ventures in various industries.

Michael Ibru’s entrepreneurial journey earned him numerous accolades, including the Officer of the Order of the Federal Republic (OFR)the Outstanding Businessman Award from the Nigerian American Chamber of Commerce and Industry, the Dr. Kwame Nkrumah Excellence in Enterprise Award, and the Chief Mukoro Mowoe Service Award.
Story credit: Old Naija via Nigeriastories on X