Onajite graduated from University of Benin, Nigeria in 1986, with a Bachelor′s Degree in Economics and is also an alumnus of the Harvard Business School. He is a founding partner of the Ocean & Oil Group and a former member of the Board of Union Bank of Nigeria Plc.
Prior to his return to Nigeria in 1994, he worked in Corporate America and has over 20 years experience in Sales, Marketing and Business Development. In 2005, he assembled a team of investors to acquire the assets of the former NAFCON and is a core investor in the consortium that includes Emerging Market Partners, a major private equity firm in Washington, U.S.A and Egyptian Fertilizer Company, now owned by the Orascom Group. He now serves as the Group Chief Executive Officer and Group Managing Director of Notore Chemical Industries Limited - the only producer of Urea Fertilizer in Sub-Saharan Africa, including South Africa.
In 2004, he was appointed a member of the Presidential Committee on Oil and Gas, as the sole representative of the private sector. This committee was instrumental in developing the current Oil and Gas policy for the country. In addition to this, he is an active member of the Nigerian Economic Summit (Policy Formulation) Group and the National Technical Working Group of the Nigeria Vision 2020. He is also a member of the President's Agricultural Transformation Implementation Council, which was inaugurated in May 2012.
In 2011, Mr Okoloko was named the inaugural winner of the Ernst & Young 'Entrepreneur of the Year' Award in the Emerging Entrepreneur category for the West Africa region. He is an avid cricketer and the former Chairman of Delta State Cricket Board and a serving member of the National Cricket Association, where he is a keen advocate for the development of cricket in Nigeria.