Anaedoonline celebrated her first year anniversary a few weeks ago with the anniversary lecture themed, Digital Media: The present and The Future.
The organizers presented awards to men and women that have distinguished themselves in different fields of endeavour.
Chief Dr. Cletus Mmadubugwu Ibeto
As such, we will daily bring you a detailed biography of each of these individuals, starting with one of Nigeria’s richest individual Dr. Cletus Ibeto aka “Omekannaya.”
Chief Dr. Cletus Mmadubugwu Ibeto was born in Nnewi, Anambra state, Nigeria, on November 6th, 1952.
On January 22, 1966, at age of 13, his education ambition was thwarted because of his fathers change of mind to send him to learn trade instead, so his father sent him off to Mr. John Akamelu in Onitsha.
His time as an apprentice with his master was filled with a thorough study of the trade and inculcation of sheer brilliance in him, which made him a formidable competitor in the market.
At the age of 17, his apprenticeship was shortened by the civil war; he was forced to join the army.
After the war, Cletus Ibeto decided to pursue his dreams of becoming a successful trader once again. To raise capital for his business, one of his elder brothers, Louis, gave him a leather handbag and a round neck suit which Ibeto sold along with a packet of APC tablets he picked up at an evacuated hospital.
Foray Into Business
Just like many Nnewi Billionaires and Millionaires, Cletus Ibeto started out from Nkwo Nnewi Market as a spare parts trader, after spending some time as an apprentice in the motor parts business. Thereafter through the dint of hard work and perseverance, he ventured into importation of spare parts.
His Turning Point
The government of President Shehu Shagari triggered the big break for Cletus Ibeto. At the time, a policy in the country enabled the importation of goods without an import license. This period helped Ibeto amass a great deal of fortune, which he subsequently put back into his business to grow it sporadically till the import licenses were then reintroduced.
With the new development and his short quick success, he was able to secure an import license worth 3 Million Naira, at a time when the value of a dollar was equal to 68 kobo.
This unexpected situation gave Cletus Ibeto an exceptional edge.
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Venture into Manufacturing
In March 1988, Ibeto stopped direct importation of lead-acid automotive battery and plastic vehicle accessories after completing his factory in Nnewi, Union Autoparts Manufacturing Co. Ltd
This Company was incorporated on 2nd June 1987 and is today one of the major players in automotive lead-acid battery manufacturers in Nigeria. It is engaged in complete manufacturing of first-class quality, completely dry-charged Union brand motor and motorcycle batteries of all capacities in addition to auto spare parts and accessories such as auto lamps, front and rear light covers, fan blades, front grilles, wheel covers, reflectors, brake pads and linings, clutch facings and clutch fibers, brake shoes kits, PVC conduit fittings and other plastic products. It also produces locally from its lead and aluminum smelting plant, all the lead and aluminum required forits operations. It has the capacity to produce, annually, the following items: 300,000 units of lead/acid batteries, 120,000 units of sealed maintenance-free batteries, 5,500 tons of lead, 500 tons of accessories and 1,500 tons of friction parts.
Union Auto-parts Manufacturing Co. Ltd has been exporting lead to customers in Europe, Asia and Africa since 1991.
On October 2nd, 1996, Ibeto setup another manufacturing company called Ibeto Petrochemical Industries Limited; which manufactures oil lubricants and other various petroleum products both for local and international trade. The company has the largest liquid storage facility for petroleum products in Nigeria, with a large capacity to store over 60,000 metric tons, and is located at the Apapa Warf and the Ibru Jetty Complex in Lagos, Nigeria.
Ibeto Petrochemical Industries Limited is licensed by the Department of Petroleum Resources to undertake the blending of oil lubricants and the production of various types of petroleum products for local and international markets. The Blending Plant is located at Nnewi, Anambra State.
Since January 1999, the Company has been delivering its blended lube products to the West, East and Central African markets. The Company also procures and trades in a range of petroleum products like Base oil (Bright Stock, etc) and Automotive Gas Oil. In August 2012, this company began to export Nigerian Crude Oil.
How He Ventured Into Cement Business
The Ibeto Group commenced business in the cement sector in 1997 with the importation of shiploads of bagged Portland cement through the Apapa ports.
The Ibeto Cement Company Ltd was conceived in 2001 following the Federal Government ban of the importation of cement in bags and the institution of a new policy of bulk importation and local bagging.
Located in Bundu-Ama, Port-Harcourt, Rivers State, Ibeto cement started producing bagged cements at its Bagging Terminal in June 2005. The Terminal is an ultra-modern bagging plant with a Flat-storage capacity of 50,000 metric tons and a production capacity of 1,500,000 tons per annum which translates to a production capacity of not less than 6,000 metric tons per day. It has two (2) production lines, each with a capacity of 2700 of 50kg bags per hour or designed total production capacity of 5400 of 50kg bags per hour. This means that nine (9) trucks of 600 bags each will be loaded every hour. It also has a third production line for big bags of 1500 kilograms, popularly known as the Big Bag Plant and yet a fourth production line for Bulk Cement powder which is loaded on special cement trucks fitted with tanks and discharge pumps.
A modern Jetty that can take in ships of over 190 meters in length with a sophisticated Ship-Unloader was constructed at the waterfront as an integral part of the facilities.
In further response to the Federal Government’s call for a total shift from mere ‘bagging’ to actual production of cement locally, The Ibeto Group has started work on a 5-million tonnes per annum Cement Manufacturing Plant in Effium, Ebonyi State.
EASTERN BULKCEM COMPANY LTD
This is a subsidiary of Ibeto Cement Company Limited and is also engaged in the business of importation of bulk cement and bagging of same in its factory premises in Rumuolumeni waterfront, Rivers State. This company also owns 60% of Nigeria Cement Company Plc (NIGERCEM), Nkalagu, Ebonyi State. This situation has empowered Ibeto Cement to commence the expeditious resuscitation of the old Nigercem plant and the construction of a brand new dry-process plant.
In 2018, IBETO Cement Company Limited acquired of Century Petroleum Corporation, a United States (US) publicly traded petroleum exploration and Production Company.
Dr. Cletus Ibeto is a recipient of the Anaedoonline Excellence Award.
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