Meet 10 Nigerian Billionaires All From the Same Town Nnewi

One thing certain is that the majority of Igbo and Nigerian wealthy people are from Anambra State, in the South-Eastern part of Nigeria. Within the Anambra state, a good number of these men hail from Nnewi, Anambra State.

Evidently, Nnewi has bred some of the notable Nigerian billionaires more than other towns in Nigeria and in Africa at large. According to Forbes, these are the 10 top billionaires in Nigeria that are from Nnewi, Anambra State.

Cletus Ibeto (AKA Ibeto Cement)

Cletus is the chairman of Ibeto Group of Companies, with one of its subsidiaries being Ibeto Cement, popular in the South-Eastern part of Nigeria. Cletus Ibeto started out selling car spare parts as an importer after spending some time as an apprentice in the motor parts business.

By March 1988, he stopped importing lead-acid automotive batteries and plastic motor accessories after completing his factory in Nnewi. By 1965, Ibeto Group became one of Nigeria’s largest auto spare parts manufacturing outfits. Ibeto also has an interest in other businesses, and through his business endeavors, he has emerged as one of the richest men in Nigeria.

Some of the cars owned by Cletus Ibeto include:

• Rolls Royce

The Rolls Royce is powered by a V12, 6.8-liter producing 563 horsepower. The passengers can enjoy a superior ride in a bespoke interior. Numerous A-grade leather and hand-crafted wood materials are available to dress up the interior, including a starlight headliner, a rear cocktail area, a rear entertainment system, a gallery with customized artwork, a backlit mirror, a power footrest, and so much more.

• Mercedes Maybach S-class

The updated version of this car has 5 display screens, including a 12.3-inch digital instrument cluster; a new 12.8-inch OLED touchscreen; a “Hey, Mercedes” assistant, and a 1,750-watt Burmester audio system. It rides on a 4.0-liter twin-turbo V-8 engine, producing 496 horsepower and 516 lb-ft of torque.

• Innoson IVM G40

The price of a brand-new Innoson IVM G40 SUV is N17.325 million. The Innoson IVM G40 has a 2.4-liter inline-four petrol engine, and it is available in 5-speed automatic transmission only. It is capable of giving out 143 horsepower. The maximum speed of this SUV is 150 km/h.

• Toyota Hilux

The Toyota Hilux has a 2.8L diesel engine with an automatic transmission that gains 20kW more power and 50Nm more torque.

Innocent Chukwuma (AKA Innoson Motors)

Dr Innocent Ifediaso Chukwuma started trading in spare parts under the name of Innoson Trading Nigeria Ltd in 1981. It now produces sport utility vehicles, commercial buses, and passenger cars at Nigeria’s first indigenous assembly plant. 

Innoson Motor has gained global recognition as Africa’s number-one vehicle manufacturing company. Today, most of the official government vehicles used in Nigeria are supplied by Innoson Motors Ltd. 

All of Innson’s vehicles are from his company, and the billionaire owns the IVM truck and the IVM Q80 SUV.

Dr Cosmas Maduka

Dr Cosmas Maduka according to is the founder, President/CEO of Coscharis Group. He started Coscharis Motors as a one-man business in 1977, and the name is a combination of his first name, “Cosmos,” and his wife’s first name, “Charity.” 

The business struggled at some points until 1982, when ten Nigerian companies, including Coscharis, were granted licenses to import auto spare parts. Today,  Coscharis Motors has been transformed into one of the largest car dealerships in Nigeria that deal in BMW, Jaguar, Range Rover, and Rolls-Royce. 

As a reputable car dealer, Dr Cosmas Maduka is one of the Nnewi billionaires who has one of the most exotic car collections that include:

• Jaguar FX

The engine for the Jaguar XF begins with an 8-speed shiftable programmed transmission and an all-wheel drive to coordinate; however, the Prestige trim accompanies a back tire drive. It can likewise kick out a terrific 296 strength rating and convey up to 295 feet for every pound of motor force. It is needed to run on premium unleaded fuel, can hold more than nineteen gallons, and has an EPA rating of just 24 consolidated miles for every gallon. The Jaguar XF comes completely outfitted with its setup of various inside and solace highlights, novel choices, and well-being guidelines to make inhabitants both agreeable and secure. While being charged as a smooth and agreeable ride, the XF can situate five individuals within.

• Rolls Royce Cullinan

The Rolls Royce engine features a V12, 6.8-litre motor that will energize even the most observing drivers with 563 horsepower. You and your kindred travellers can appreciate the unrivalled ride in a bespoke inside. Various A-grade calfskin and hand-created wood materials are accessible to spruce up the inside. These materials are joined with extraordinary hardware like progressed acoustics, a starlight main event, a back mixed drink region, a back theatre setup, a display with tweaked craftsmanship, an illuminated mirror, and a force footstool, thus significantly more.

• Mercedes-Benz S-Class

The petroleum engine can convey 362 bhp with 300 Nm on S 450 4MATIC variation and 429 bhp with 520 Nm on S 500 4MATIC model. This motor likewise utilizes a 48-V electric engine for introductory force help. The 3.0-litre diesel motor beats 282 bhp and 600 Nm on S 350d 4MATIC trim. The equivalent powerplant puts out 326 bhp and 700 Nm of pinnacle force on S 400d 4MATIC.

Gabriel Chukwuma

Another Nnewi-born billionaire in Nigeria is none other than Innoson Motors’ brother, Gabriel Chukwuma. Gabriel Chukwuma is the owner of former club side Gabros International FC and ex-Vice Chairman of the Nigeria Professional Football Association. He is the bigger brother of Innoson, who began business as a patent medicine dealer. 

While much is not known about the cars Gabriel Chukwuma owns, for a man of his calibre, the billionaire can afford to buy luxury cars like The Toyota Hilux, the Mercedes Benz S-Class, the Toyota Land Cruiser, and the Lexus LX470.

Augustine Ilodibe

Augustine Ilodibe, who is now late, pioneered the interstate luxury bus transport service; for years, he was also the sole importer of these buses at the time. After helping organize vehicles for the Biafran side during the civil war, he established the hugely popular Ekene Dili Chukwu Transport, his main cash cow, and later diversified into brewery and agriculture.

Louis Onwugbenu

Louis Onwugbenu was born in the late 1950s into economic hardship. Although intellectually promising, young Louis Onwugbenu had to forgo education after the outbreak of the Biafran-Nigerian Civil War in 1967. Later in 1972, he started selling bolts and nuts, oil filters and plugs, with the little capital he got from his parents. Through sheer resilience, he continued until he later graduated into the auto spare parts business. 

Between 1972 and 1977, he became one of the Igbo traders that made weekly shuttles from the East to Idumota Lagos to purchase Motorcycle spare parts under the Carter Bridge. Today, he is nicknamed Louis Carter Bridge. Today, even his business headquarters is located in Carter Industrial Estate, in Nnewi.

7. Obiajulu Uzodike

Engr Gilbert Obiajulu Uzodike is the founding Chairman/CEO of Cutix Plc. He was born on the 25th of March  1949 in Nnewi, Anambra state. Founded in 1982 by Gilbert Obia­julu Uzodike, after returning from a stint with Raychem Corporation in the United States, Cutix has today grown in leaps and bounds, becoming a multi-award winning manufacturer of electric and telecoms cables, making it one of the best-performing indigenous companies quoted on the Nigerian Stock Exchange (NSE). 

There are no public records of the cars Engr Gilbert Obiajulu owns. However, he can afford to buy luxury cars like the latest model Toyota Hilux, Toyota Land Cruiser, the Mercedes S-Class, and many other luxury vehicles.

8. Ifeanyi Ubah

Ifeanyi Ubah had to learn a trade at a young age due to the inability of his parents to cater to his educational and material needs. As such, he dropped out of Okongwu Memorial Grammar School, Nnewi, Anambra State, to learn a trade at a young age. 

By 2001, he founded Capital Oil and Gas Limited, which has since gone on to become one of the largest distributors of petrol products around Nigeria with a combined capacity to berth 3-6 vessels simultaneously and 32 loading arms. 

He is the founder of The Authority Newspaper, a Nigerian daily newspaper, and the owner of Ifeanyi Ubah F.C., a football club in the Nigeria Premier League. 

Although most of his cars have yet to be spotted in public, it is rumoured that Ifeanyi Ubah owns two Rolls Royce and a host of other SUVs.

9. Alexander Chika Okafor

In 1981, Chief (Dr) Alexander Chika Okafor founded the Chicason Group of Companies. A-Z Petroleum and other of his products are now household names in Nigeria. He is the Chairman and founder of the Chicason Group of companies today. A native of Umudim, Nnewi, Anambra State, Chief (Sir) Alexander Chika Okafor started his business as a local trading house in 1980 and graduated in later years into a conglomerate.

10. Louis Odumegwu Ojukwu

Late Odumegwu Ojukwu, the father of the later Biafran War Lord, Odumegwu Ojukwu is reportedly Nigeria’s first black billionaire and founding president of the Nigerian Stock Exchange, was knighted by Queen Elizabeth II. The royal honor came after he helped the British during World War II with his fleet of trucks. 

Odumegwu Ojukwu was so wealthy that during the Queen’s visit in 1956, he ensured that she was chauffeured around in his Rolls-Royce – apparently the only one in the country at the time – at the request of the colonial administration. Profiled in September 1965 by TIME magazine, Ojukwu made his money by importing dried fish for resale and diversifying into textiles, cement, and transport. When he died a year later, his wealth was an estimated $4 billion in today’s economic value. 

Loius Odumegwu Ojukwu was the first black billionaire in Nigeria and, as such, owned some of the luxurious cars that existed then. He owned a Rolls-Royce back in 1956, and it was this vehicle that was used to chauffer Queen Elizabeth II when she visited Nigeria in 1956.

Conclusion

There are many billionaires in Nigeria. However, these are the top 10 Igbo billionaires that hail from Nnewi town in Anambra State.