Ajayi Oluwatobi is a trailblazer in Nigeria’s automotive sector and one of the country’s leading young entrepreneurs. As the Founder, Chairman, and CEO of Nord Automobiles Limited, he has built one of Nigeria’s first indigenous car brands and a key player in Africa’s automotive industry. Born in 1988, Ajayi quickly rose from a Mercedes-Benz executive to a celebrated business leader, earning accolades such as being named one of Forbes’ 30 Most Promising Young African Entrepreneurs in 2018 and CEO of the Year 2024 (Private Sector) by Leadership Newspapers.
Profile Summary
| Full Name | Ajayi Joshua Oluwatobi |
| Date of Birth | May 11, 1988 (Age 36 as of 2024) |
| Place of Birth | Abeokuta, Ogun State, Nigeria |
| Nationality | Nigerian |
| State of Origin | Ogun State |
| Partner | Married |
| Children | N/A |
| Occupations | Founder, Chairman & CEO of Nord Automobiles; Entrepreneur; Former Mercedes-Benz Executive |
| Net Worth | Company valued over ₦4.2 billion; personal net worth undisclosed |
Early Life and Education
Ajayi was born on May 11, 1988, in Abeokuta, Ogun State, Nigeria. Growing up in a family involved in automobile sales—his father owned Squadron Motors, dealing with brands like Mercedes and Peugeot—he was exposed to the automotive industry at an early age.
He completed both his primary and secondary schooling at the Nigeria Navy School, an experience that helped instill discipline and focus. Ajayi pursued tertiary education at Olabisi Onabanjo University, studying Soil Science and Farm Mechanization from 2004 to 2010. Though seemingly unrelated to automobiles, this technical background supported his analytical abilities.
To further his business acumen, he earned an MBA from Lagos Business School (Pan Atlantic University) and completed the Pan African Executive MBA Module at IESE Business School in Spain. Additionally, he is a Fellow of the Institute of Credit Administrators (FICA).
Career
Ajayi’s career began in 2012 during his NYSC at Mercedes-Benz Nigeria, where his dedication earned him full-time employment managing the Van Division.
From 2013 to 2015, he grew the Mercedes-Benz van market share in Nigeria from under 1% to 7%, earning the Mercedes-Benz Best Sales Performance for Africa in 2013.
In 2015, Ajayi left Mercedes-Benz to co-found Jetvan Automobiles Limited, an authorized dealer for Mercedes-Benz Sprinter vehicles in Nigeria. As CEO, he successfully led Jetvan to become the largest authorized Sprinter dealer in the country.
Driven by the ambition to create a truly Nigerian vehicle brand, Ajayi left Jetvan in 2018 to establish Nord Automobiles Limited, officially launched in December 2020. The company focuses on designing, assembling, marketing, and servicing quality vehicles, with assembly plants in Lagos covering over 5,500 square meters.
Nord has quickly grown in value, surpassing ₦4.2 billion, and launched multiple models such as the A5 and Demir SUVs, the Nord Tank pickup, and the Nord A9 SUV.
Personal Life
Ajayi is married but maintains privacy regarding his personal life. He draws inspiration from African business icons like Alhaji Aliko Dangote and Tony Elumelu, valuing their focus on hard work, integrity, and strategic networking.
Oluwatobi Ajayi Jnr Net Worth
While Ajayi’s exact personal net worth remains undisclosed, Nord Automobiles is valued at over ₦4.2 billion, indicating significant personal wealth as the company’s founder and key stakeholder.
Awards and Recognitions
- Forbes 30 Most Promising Young Entrepreneurs in Africa (2018)
- AMBA & BGA MBA Entrepreneur of the Year (2021) — first Nigerian recipient
- CEO of the Year 2024 (Private Sector) — Leadership Newspapers
- Mercedes-Benz Best Sales Performance for Africa (2013)
- Auto Assembly Company of the Year — BusinessDay Nigeria Leadership Awards
- CNG-powered Mini-bus Brand of the Year (2024) — Nigeria Auto Journalists Association (NAJA)
- Special Recognition for Nord A9 (2024) — NAJA Awards
Oluwatobi Ajayi Jnr.’s journey exemplifies how vision, education, and determination can enable an African entrepreneur to establish a homegrown automotive brand capable of competing globally. His success story inspires aspiring business leaders across the continent.
