By Uchenna Ezedigwe and Ori Martins
About three years ago when the Arewa Youth Forum through its president, Shetima Yerima, issued a quit notice to the Igbo living in the northern part of the country, it was estimated that the worth of South East investment in the region was over N45t! In other words, Igbo wards find it attractive and convenient to invest outside their enclave. This act, on several occasions, has put the Igbo on a severe economic jeopardy especially during religious, ethnic, political or social crisis. Since the Igbo do not bother about the site or location of their businesses, leaders of the zone, particularly, the Ohaneze Ndigbo, have conceptualized a slogan, “Think Home Philosophy”. That is, invest in the South East, bring your wealth home, develop Igbo nation, etc.
In a way, the people of Nnewi in Anambra State seem to have comprehended this philosophy whole and entire! Virtually all Nnewi businessmen, investors and industrialists have now made the community their respective commercial and business capitals. This means that Nnewi wards “now think home” in their business approaches. The Nnewi trader has his main shop at Nnewi though he still maintains his Lagos, Abuja or Port Harcourt fronts.
In one of his previous interviews, the former governor of old Anambra State, Chief Chukwuemeka Ezeife, stated that if other Igbo investors can reason like Nnewi industrialists and businessmen, South East will be like China and Japan combined. Ezeife noted that Nnewi investors were really making Ndigbo proud by their assimilation of “think home philosophy” approach in their businesses. Here, News Echo highlights the major 12 investors that have made Nnewi the home of China and Japan in Nigeria.
1. Chikason Group
The Chicason Group is one of the wonders of the present generation of Nnewi businessmen and investors. Founded in 2009, the group is now a pace setter and a household name as a lead company in the country. According to its official profile, Chicason Group is a home grown and technology driven conglomerate, with vibrant member companies and affiliated businesses that epitomize the African enterprise spirit with diverse interests in oil & gas trading, oil & gas exploration, real estate and construction, manufacturing, mining, transportation, and health care. Chikason Industrial Group is owned by the business guru who also doubles as its chairman/CEO, Dr Chika Okafor.
Interestingly, the group’s head office is located in Nnewi, Anambra State. The corporate offices are also located in Abuja, Kano, Lagos, Port Harcourt with international offices in Kenya and Sierra Leone. Chikason subsidiaries include the following, Rock of Ages Properties Limited, Promotex, A-Z, Rimco Limited, Cason Travels limited, Rimco Mining, A-Z Transport, Mannayon Specialist Hospital, International Cement Company and Afro Asia Automobile & Plastics.
It was not for nothing that The Sun Newspapers honoured this great man as its Business Person of the Year 2017. In the passage of a tribute written on Okafor by The Sun Newspapers, the tabloid noted that, “In 1981 at an early age when he set out to float a private enterprise to help him achieve his dream of touching the lives of the less privileged, not many gave him a chance in the murky waters of the business world but he came, saw and conquered. Today the Chicason Group is not only like an octopus with many tentacles but it has become an inspiration to young and aspiring entrepreneurs. It has become one of Africa’s fastest growing conglomerates with more than 13 companies and affiliated businesses.
“Born in Umudim, in Nnewi Local Government of Anambra State, Okafor who started from a humble background, has transformed into being one of the foremost industrialists in Nigeria. The hallmark of his success is hard work and partnership with various stakeholders with the aim of not only industrialising Nigeria but creating jobs for the citizens, while also putting smiles on the faces of the less privileged. The group under him has built a reputation of integrity, industry, and commitment to Nigeria’s industrial revolution. On account of his relentless pursuit of excellence, Okafor has been honoured by the Federal Government with the award of the Officer of the Order of Niger (OON) among other recognitions by several professional bodies. It is for being a success story and providing livelihood to thousands of Nigerians that Okafor was voted Business Personality of the Year 2017”.
2. Innoson Vehicle Manufacturers
Probably, no indigenous firm has ever generated the kind of support as well as controversy The Innoson companies has garnered in the last 10 years. It is an indigenous privately owned Nigerian group of companies committed to driving the Nigerian economy forward through industrialization. The company’s reputation as one of the leading proponents of made-in-Nigeria brands started from a humble beginning 38 years ago.
The Innoson range of products did not only stop at the automobile manufacturing but also spreads across plastic manufacturing, motorcycle manufacturing tyres and tubes manufacturing. The Innoson head office is located at Umudim, Nnewi, Anambra State. With the branch offices located at Oshodi, Apapa, Lagos State and the Innoson Technical and Industrial Company limited located at Emene, Enugu, Enugu State.
The chairman/ chief executive officer of Innoson Mottors is the indefatigable Chief Innocent Ifediaso Chukwuma who was born in 1961 in Nnewi, Anambra State. Those who know him very well say he is a business magnate and investor. He founded the Innoson Vehicle Manufacturing, Nigeria’s first indigenous automobile manufacturing company. Innocent Chukwuma was born into the family of Chukwuma Mojekwu. He is the youngest child in a family of six.
In 1981, after his education, Innocent began trading in spare parts, a very lucrative business in South East Nigeria. He then founded the company Innoson Group with Innoson Manufacturing, Innoson Tech. & Industries Co. Ltd as its subsidiaries. In 2013, he was appointed deputy chairman, Board of Trustees National Coalition for Jonathan/Sambo Presidency, a group setup to promote the election of the former Nigerian president, Goodluck Jonathan.
Some of the wards that have come his way are Honorary Life Vice President of Nigerian Association of Chambers of Commerce, Industry, Mines & Agriculture (NACCIMA); Most Outstanding Indigenous Entrepreneur in the Manufacturing Sector by Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA); and Officer of the Order of the Federal Republic (OFR).
3. Ibeto Group
Nothing can essentially qualify, even quantify the secret of success of the high flying Ibeto Group that this note signed by its chairman, chief executive officer, Chief Cletus Ibeto; “We are proud of our rich heritage and history of delivering superior quality products and services. For our Group, success is the product of a joint effort and we strive to achieve it in partnership with our customers. Providing the right quality is an essential part of our service philosophy and is reflected in all our manufacturing and business activities. We achieve this through our belief in building strong and lasting relationships set on bedrock of integrity, high ethical standards, meticulous planning and unflinching dedication to plan execution”.
Ibeto Group is a manufacturing and distribution of high quality products that best meet the needs of local and international markets that set to provide rewarding careers for our Employees through a quality work environment that assures their commitments to the Organization and enables them to actualize themselves. The groups range of activities includes King palace hotel, Union auto parts manufacturing, Ibeto petrochemical industries, palmex agencies limited, Odoh holdings, Ibeto industries, Ibeto hotels Ltd, Energy Network IBG, ltd and Eastern Bulkcem company ltd. The Ibeto head office is located in Nnewi, Anambra State, with branch offices in Victoria Island, lagos, Maitama Abuja, and Bundu Ama Port Harcourt.
Indeed, Cletus Madubugwu Ibeto was born on November 6, 1952. A multi billion naira businessman from the industrial city of Nnewi, he is head of The Ibeto Group, the largest business enterprise from Nnewi, a city unique for its entrepreneurial spirit. According to his public documentation, “in the early 1980s, when the oil crash and a controversial import licensing system was making a dent on the Nigerian manufacturing environment, Nnewi went through a growth period. The Ibeto Group under the Ibeto’s leadership was a pacesetter in the region and nation’s trading and later manufacturing development. Cletus Ibeto started out as a spare parts import dealer, after spending some time as an apprentice in the motor parts business, a gradual step taken by many eastern traders. In March 1988 he stopped direct importation of lead-acid automotive battery and plastic motor accessories, after completing his factory in Nnewi. By 1995 The Ibeto Group had become one of the largest auto spare parts manufacturing outfits in the country.
“On October 2, 1996, he established Ibeto Petrochemical Industries Ltd. which is engaged in the blending of oil lubricants as well as the production of various types of petroleum products for local and international markets. The Company owns the largest liquid storage facilities for petroleum products in Nigeria with a capacity of over 60,000 metric tonnes located at Apapa Wharf and Ibru Jetty Complex, Lagos. In May 2018, Ibeto Cement Company Limited announced a reverse merger with Century Petroleum Corporation, a United States (U.S.) publicly-traded petroleum exploration and production company in a move to enter global markets and bypass the complex process of listing. Ibeto acquired a 70% controlling stake of the company and Cletus Ibeto was subsequently made the Chairman of the Board of Directors. In 2008 Ibeto received the national Honour of Officer of the Order of the Niger (OON) from the Federal Republic of Nigeria for his outstanding contributions to the country through his manufacturing enterprise. In 2012 he was awarded the Honour of Commander of the Order of the Niger (CON) for his continued outstanding service to the nation”.
4. Kotec Industrial Limited
Certainly, no other indigenous group has the attention of Nigerians more than Kotec. This is largely due to its height and feat in the area of food items like tummy-tummy, etc. The Kotec industries is one of the leading brand names and producers of Kotec Industrial Company Ltd(Trading on motorcycle spare parts); Chitec Agro Ltd (Trading on motorcycle spare parts); O’xtophers International Company Ltd (Trading on general goods); Target Automobile Company Limited (Manufacturers of target automobile spare parts.); Event Beverages Ltd (Manufacturers of Event table water.); Tummy-Tummy Foods Industries Limited (Manufacturers of Tummy-Tummy Instant noodles.) It is located at the Nnewi main market with various branches spread all over Nigeria.
Owned by a man who has been variously described as a frontline industrialist, Chief Chika Emenike, is the chairman/CEO of this award winning investment. It must be stated that Tummy Tummy Foods Industries Limited, is the flagship of Kotec Group. As a publication stated, “Emenike is widely revered for his humane and compassionate character laced with an unbelievable humility, simplicity and magnanimous spirit, the amiable entrepreneur turned 50 on July 23, 2019. A man endowed with amazing wisdom, Emenike’s fulfilled life is a classic example of one that awesomely rose from a humble background to stupendous wealth due to hard work, honesty and God fearing nature. Because he truly understands God’s grace, he remains one of the most celebrated philanthropists of his generation.
Emenike who owns chains of companies including Event Beverages Ltd and Regime Gas Plant, has not allowed fame and success take the better of him as his legendary strides towards the uplift of mankind has been a great lesson to everyone especially the affluent. Through his spectacular silent scholarship scheme, many have benefitted immensely.
As a man with a golden heart and strong member of the Catholic Charismatic Renewal of Nigeria, he has not only provided shelters for the poor, but also assisted in setting up businesses for youths, boosting their trade with incentives and concessions in the process. As a pride of the church, he has hugely contributed to the spread of the gospel and the icing on the cake is the building of the gigantic Catholic Church in the mould of a Cathedral which is on the verge of completion at his Urualla, Ideato North home town of Imo State”. However, he identifies with the Nnewi industrial market.
5. Cutix Cables Plc
Curtis cable Nnewi is a giant name when it comes to different cables ranging from telecommunications cables, electrical wires and cables, automobile wires.
They also specializes in PVC single cables, PVC Power Cables, PVC Flexible Cables, PVC Flat Cables, PVC Insulated Single/Double Sheathed-Core Aluminium Cable, Armoured Cables, Non-armoured Cables, Aluminium Cables, Automotive Cables, Bare Stranded Copper conductors complete product range of high-quality cables, wire and cable management products, and much more. The company is located at Otolo Nnewi with branches situated in most part of the country. According to a Nairametrics post, “The company was founded by Dr Gilbert Obiajulu Uzodike and Odi O Nwosu on November 4, 1982 and is headquartered in Nnewi, Nigeria. So far, Cutix Plc’s stock has performed relatively well on the floor of the Nigerian Stock Exchange.
The stock recently closed out trading at N4.25; a slight (5.13%) decline from its 52-week high of N4.48 which was set on Aug 01, 2018. Year to date, this stock has increased by 107.96%, thereby marking a 5-year high.
“Much like its stock’s performance, Cutix Plc has also consistently recorded positive financial performance in recent years. Its revenue increased from N1.9 billion in 2013 to N5.0 billion in the second quarter of 2018; likewise, profit after tax increased from N151 million in 2013 to N447 million in the second quarter of this year.
The company, which is one of the leading manufacturers of assorted cables for electricity, telecommunications and automobiles, was founded in 1982 by Uzodike with just N400,000. The accomplished businessman and serial entrepreneur have long relinquished full-time executive duties in the company. Yet, he remains one of the most relevant corporate executives in Nigeria. He is our corporate personality of the week. Get to know him. Uzodike hails from Nnewi, a small town in Anambra State which is said to have more billionaires (naira) than anywhere else in Nigeria. He was born in 1949 in the commercial South-Eastern city of Onitsha, also in Anambra”
6. Obikings Industries Limited
Obikings Industries Limited was registered on 12th November, 2004 with RC 602346 and commenced operation in December, 2004. The company imports and assembles electronic equipment to serve the West African markets, particularly the Nigerian market, Obikings Industries holds the franchise for Century and Power deluxe products in Nigeria & West Africa. At Obikings Industries, we believe in creating value for customers by consistently providing electronic appliances of the highest quality.
7. Dinacon Industries Ltd
Dimacon Industries Ltd was incorporated in 1988 and is a member of both the Manufacturers’ Association of Nigeria and the Paint Manufacturers’ Association of Nigeria. The company manufactures paints for a wide range of applications including, but not limited to, the following: Automotive paints, Marine and Protective coatings, Architectural Paints, Floor Coating Systems, Metal Packaging Coatings, Plastic and Footwear Coatings, Coil Coatings, etc.
In Automotive paints, Dimacon manufactures paints from weldable Zinc-rich primers, Stoving Primers and Finishes, quick-dry refinishes, 2pk Acrylic paints and the various thinners for these. All these paints have been tested and approved for use in Nigeria’s Prime Auto manufacturing Plant – Mercedes Benz ANAMMCO, they comply with standards laid down by Daimler Chrysler and Dimacon has been the major paint supplier to the plant at Enugu for several years now. The Company’s floor protection systems include Solvent-free Epoxy primers, Epoxy and Polyurethane floor coatings of different purposes.
8. J. Udeagbala Holdings Limited
J Udeagbala Holdings Limited is one of the oldest established import and manufacturing businesses in the South Eastern part of Nigeria. Located at the commercial city Nnewi, the subsidiaries of this giant household name includes, Beauty Base Limited Vegetable Oil Limited, agro-products and agro-chemical by setting up Dynamic Farms Limited, pipe manufacturing and Quality Pipe Limited. All was incorporated in order to meet the growing need of quality personal care products in Nigeria previously dominated by multi-national companies. The company has continued its growth since the 1930’s without losing the fundamental ethos of its founding father, “the desire to promote and encourage indigenous production of goods and services”.
9. Coscharis Group
The Coscharis Group is a wholly owned Nigerian Conglomerate with businesses and interests that span across various sectors of the Nigerian economy: Automobile, Medical, Foods & Beverages, Information Technology, Engineering and Agriculture. With globally respected partners and an iconic brand portfolio, Coscharis has continued to be a considerable contributor to Nigeria’s economy.
Thereafter, the success story of being a noble ambassador of the BMW brand in Nigeria made the grand entry of other great brands like Jaguar LandRover, Ford, Mini, Morris Garages and finally the luxurious Rolls-Royce brand into the Nigerian market with Coscharis as the second franchisee in the whole of Africa. Furthermore, within the auto industry Coscharis holds sole franchise of the Abro automotive care brands and the car rental franchise for Sixt Rent a Car through its subsidiary Coscharis Mobility in Nigeria. The chairman/CEO is Chief Cosmas Maduka, a man of great vision and enterprise. He has worked so hard that he is of the biggest marker movers in Nigeria and his business is proudly located in Nnewi.
10. Louis Carter group
The Louis Carter Group is one of the foremost indigenous industries located in the biggest industrial city of West Africa, Nnewi. The louis Carter businesses ranges from manufacturing of automobile parts like brake pads and consumables like custard, bottled water,etc.Louis Carter Group also imports Tobacco, Motorcycles, General products which are commited to providing quality products to a great choice of customers
The head office is located at Uruagu, Nnewi, Anambra with branches in Abuja, lagos and Enugu.
11. Stine Rice Limited
The largest Rice mill in Nigeria with production capacity of 440 tons per day,i.e 10,000 bags of 50kg per day. Stine industry is a world class rice milling company with state-of-art facilities and modern equipments that can boasts meeting the needs of the people with both local and expatriate workers on its payroll. The Rtine Rice has become market leader in local rice production in Nigeria as well as competing favourably on the international stage.
12. First express Aluminum
The First Express aluminum is a seasoned service based firm for supply and Installation of Aluminum products and related products Such as: Aluminum doors and windows, roofing sheets, and allied products. The company is located at Uruagu Nnewi with branches situated major parts of the country.
