The South-East of Nigeria, home to Abia, Anambra, Ebonyi, Enugu, and Imo states, is widely recognized as the Igbo heartland.
This region has long been a hub of entrepreneurship, commerce, and innovation, producing some of Nigeria’s most industrious and financially successful citizens.
It is a place where determination meets opportunity and where businesses, big and small, thrive through resilience and strategic thinking.
The individuals who make this list of the top 10 billionaires in South-East Nigeria represent a diverse array of sectors.
From oil and gas to automotive, manufacturing, finance, and telecommunications, these business leaders have built empires that not only generate significant wealth but also create jobs, drive industrial growth, and shape the economy. Their stories reflect a mix of ambition, ingenuity, and the ability to navigate Nigeria’s challenging business sector.
Beyond business, many of them are notable philanthropists, contributing to education, healthcare, and community development in the region. Examining the wealthiest in the South-East offers a window into the economic powerhouses driving the region’s growth and influence, showcasing the entrepreneurial spirit and ingenuity that define the Igbo commercial tradition.
Cletus Madubugwu Ibeto is one of Nigeria’s most influential indigenous industrialists, building a multi-sector empire. His rise began after his apprenticeship, when he entered the auto-parts import trade in Nnewi, then an emerging hub for automotive commerce. By 1988, he pivoted from trading to manufacturing, launching a factory that produced lead-acid batteries and plastic motor components. By 1995, the Ibeto Group had become a force in Nigeria’s auto-parts supply chain.
Ibeto deepened his industrial footprint in 1996 with the creation of Ibeto Petrochemical Industries, a key player in lubricant blending and petroleum trading with one of the country’s largest private storage terminals. Other units of the group include Union Autoparts Manufacturing, Odoh Holdings (real estate), Cotton Wooden Gas (gas processing), Ibeto Port and Terminal (logistics), and Ibeto Hotels in Abuja.
In the cement sector, Ibeto Cement, founded in 1997, pursued an $850 million deal with Milost Global and later secured a controlling stake in U.S.-listed Century Petroleum through a 2018 reverse merger.
