After three years mastering Mercedes-Benz vans and steering Jetvan as CEO, Ajayi Joshua Oluwatobi left luxury behind to build Nigeria’s own car brand — Nord, proving Africa can drive its own future.
Ajayi Joshua Oluwatobi started his career journey as a National Youth Service Corps member at Mercedes-Benz, where his talent and drive earned him a permanent role as the head of divisions (Vans) right after service. Right in the van division, he rose quickly through the ranks, proving his skills and determination. Between 2013 and 2015, he increased Mercedes’ van market share in Nigeria from less than 1% to nearly 7%. His performance earned him the Mercedes-Benz Sales Performance Award for Africa in 2013.
Building Jetvan and Shaping the Market
Through his vision and determination, Ajayi co-founded Jetvan Automobiles, an authorized Mercedes-Benz dealership. But success came with challenges. In 2016, Nigeria’s recession hit hard, and Jetvan’s customer base began to shrink. The downturn left buyers unable to afford Jetvan Automobiles. Buyers who once purchased new buses could no longer afford them. Many had to keep repairing their old vehicles instead.
“At one point, I feared losing everything. I knew I had to find an alternative,” he recalled in an interview.
Despite the tough business terrain, Ajayi found creative ways to stay ahead. Ajayi employed creative and innovative means to gain ground and maintain a competitive edge.
Ajayi began to ask himself a tough question: if imported cars were pricing everyday Nigerians out of the market, why couldn’t the country build its own? He imagined a future where Nigerians no longer had to stretch their pockets for foreign brands but could proudly drive elegant, reliable, and cost-efficient vehicles made at home.
From Sketches to Reality
Ajayi moved beyond ideas to a bigger dream, turning his vision into actionable plans. Slowly shaping what could one day become Nigeria’s own automobile. To refine these ideas, he partnered with a German firm that helped sharpen the designs. From Thailand to China, his pursuit of excellence took him across continents in search of the right partners who could supply vehicle bodies that matched his ambition.
In April 2018, Ajayi made a bold move. He left Jetvan to chase his vision, launching Nord Automobiles Limited, a brand daring to reimagine mobility through the lens of Nigerians. In December 2020, Nord Automobile unveiled its first model to the public.
“We are building a company that gives Nigerians world-class vehicles at globally competitive prices,” he explained. “A car that retails for about $16,000 in Japan or the U.S. often sells for $45,000 in Nigeria. Nigerians deserve better,” – Ajayi Oluwatobi
Challenging Bias and Changing Perceptions
Nord then took a step forward by announcing that Nigerians can now own its entry-level brand-new EV for about ₦16 million (roughly $11,000). This offer sounds too good to be true to many Nigerians, and Ajayi knew he had to deal with the deep-rooted bias, where foreign cars are seen as superior, new or not. Many Nigerians still prefer a second-hand Toyota to a brand-new locally assembled car.
Every car Nigeria imports comes at a cost that goes beyond the purchase price. It also puts more pressure on the country’s limited foreign exchange, money that could have been invested to grow industries at home. “When Nigerians buy imported vehicles, we’re creating jobs in foreign factories with our own money,” Ajayi explains.
According to Ajayi, Nord Automobile has grown to become valuable at over 4.2 billion, proving that with hard work and focus, a Nigerian youth could achieve anything. Ajayi has expanded Nord’s product range aggressively.
Redefining Nigeria’s Place in the Global Auto Industry
In just a few years, Nord has gone from about five models to over 11, including SUVs, pickups, crossovers, and sedans, so that different segments of Nigerians (urban, rural, government, private) can find something that fits their needs.
Ajayi Joshua Oluwatobi is not just building cars; he is rewriting Nigeria’s place in the global automobile conversation. For decades, Nigeria has been treated solely as a consumer market. Ajayi disrupted that cycle. With Nord, he has proven that Nigeria can be more than a buyer; it can be a builder, a designer, and a producer of world-class automobiles.
Nord has transformed Nigeria from a passive participant in the auto industry into an active contributor. Through investments in Research & Development, local assembly plants, partnerships with global technology firms, and the creation of after-sales networks that rival foreign brands, Ajayi has shown that Africa has both the talent and the ambition to produce.
His disruption is also cultural. He is challenging deep-seated beliefs that “foreign is always better,” proving instead that Nigerians can take pride in driving cars made for them, by them. By offering affordable EVs, CNG buses, and SUVs tailored to Nigerian roads, he has positioned Nord as a brand that doesn’t just sell cars; it reshapes identity, fuels jobs, and keeps value within our borders.
Through Nord, Ajayi has moved Nigeria one step closer to industrial independence. He has turned aspiration into reality, reminding the world that Africans are not destined only to consume; they can innovate, manufacture, and lead. In disrupting the automobile space, he has made Nigeria more than a market; he has made it a producer, a competitor, and a force to be reckoned with.
Ajayi’s story is more than a business case study; it’s a reminder that vision, courage, and persistence can turn challenges into industries and ideas into legacies. His journey proves that Africa’s future is built by founders bold enough to dream differently.
At Accretio, we believe stories like Ajayi’s deserve to be told and celebrated. That’s why our Founders Series — a platform where African entrepreneurs share the grit, lessons, and breakthroughs behind their journeys.
If you’re a startup founder and would love to be featured in our Founders Series, click here. We’d be honored to tell your story.
