DR. CLETUS IBETO; CON: AN INSTITUTION THAT HAS PASSED THE TEST OF TRUISM

By Ezeani, Chukwunonso Elvis

Extremely influential and vastly powerful yet often calm, gentle and unassuming, even when He leverages His business experience and wealth to lend a hand of help and support to others, He keeps quiet about it and this is because by the age of 25, Cletus Ibeto was already a millionaire with business focal area was in the importation and distribution of motorcycle parts; attracting attention from nations from around the world.

For many who do not know, Cletus Ibeto can safely be referred to as a self made man who was only a beneficiary of His first trade windfall under the government of President Shehu Shagari via a trade policy change which was the then governments’ response to cushion the effect to Nigeria’s drying reserves on the nation.

This miraculous policy stipulated that a category of goods could no longer be imported without a federal government import licence; as a result of which importers stopped trading while they monitored enforcement of the new policy which jolted the trading community.

While other traders panicked and waited for the storm to settle, the young, audacious and energetic Cletus Ibeto moved quickly to secure the N3 million import licences at a time a dollar sold for 68 kobo. With the licence in place, he proceeded to import 65 containers of vital motor parts.

By the time other importers woke up to get the licence, the government had tightened the screws and made it almost impossible for just anyone to obtain the same licence.

The military coup that forced out the government of Shehu Shagari’s government resulted in a sudden closure of borders. This singular act of providence granted Cletus Ibeto an unsolicited monopoly of motor spare parts across Nigeria and bordering countries.

That was the turning point in his life and business career. As the Nnewi born high chief would say, ever since, it has been “forward ever; backward never”.

Many have described the benefit Cletus Ibeto reaped from the Shagari government as an example of opportunism but what they have not considered is that the granting of import licenses in Nigeria was and still is subject to the fulfillment of stringent terms and conditions.

The application process is in itself a risk that comes with no money back guaranty so it is therefore safe to say that Cletus Ibeto simply took a high consequence business risk and it paid off.

Over 40 years after, Cletus Ibeto is still standing tall and notwithstanding the impact He has made on millions of lives across Nigeria via his unique gestures of philanthropy, the founder and chairman of Ibeto Group still remains one of the most silent figures in Nigeria’s history of wealthy people. He sets no boundaries and His attitude to giving to strangers is the same as that with which He embraces His brethren.

Presently, in the Nigerian context, at the mention of Cletus Ibeto, what comes to mind is a bubbling Cement manufacturing and bagging empire with footprints across Africa but in reality, beyond this empire also lies other multibillion dollar enterprises which cut across hospitality, clean energy, oil and gas, banking, manufacturing and packaging, mining and lately radio communications all of which speaks to the “can do” spirit of Cletus Ibeto.

With footprints in Africa, North America, Asia and Europe, according to Forbes, Cletus Ibeto via the Ibeto Group, has crossed the $10billion personal net worth and business assets threshold.

While it is not a secret that Cletus Ibeto is one of Nigeria’s wealthiest men alongside Sanusi Usman Dantata, Obafoluke Otudeko, Ferdinand Alabraba, Aliko Dangote, Mohammed Indimi, Ambrosia Orjiakor, Prince Arthur Eze, Mai Deribe, Isiyaku Rabiu, Olorogun Michael Ibru, Kase Lawal, Tony Elumelu and Kessington Adebutu, what is a secret is that this serial entrepreneur stands at the forefront of Nigerian wealthiest with no link to humongous debts as captured by AMCON.

Clearly, this is what it means to have CLEAN WEALTH.

As for what Cletus Ibeto does with His wealth; mention must be made here that nothing attracts more joy to Nigeria’s doyen of industry and commerce than involvement in charity.

When COVID-19 grounded the world, Cletus Ibeto graciously accepted to be part of an initiative of prominent Nigerians who supported government health and social palliatives efforts by generously donating to the building of health facilities across the South East and Niger Delta.

He was also instrumental to the provision of staple foodstuffs to indigent members of society and by the time the lockdown was lifted, a mind boggling $1M had been channeled towards charity and philanthropy during the pandemic in less than 90 days.

One of the many host communities of The Ibeto Group is Bundu Ama, one of the largest waterside clusters in oil rich Rivers State, South South, Nigeria. As a responsible corporate citizen, the Ibeto Group has provided over $20M in various forms of aid to the community and its people.

Its clean and portable water program contributed to the elimination of communicable diseases in the Niger Delta community.

More than local and state authorities, the Cletus Ibeto led Ibeto Group has built roads, renovated classroom block, installed electricity, paid scholarship grants and organized medical outreaches in local riverine communities in the Niger Delta as well as other Nigerian states.

Who exactly is Dr. Cletus Madubugwu Ibeto; CON?

He is Nigeria’s foremost multibillionaire with a heart of pure Gold.

With just about 7 months to His 70th birthday, Nigeria and the world waits on standby to testify that Cletus Ibeto is indeed an institution that has stood the test of truism.

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