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.
Innocent Ifediaso Chukwuma, founder and CEO of Innoson Vehicle Manufacturing, heads Nigeria’s first indigenous automobile producer and one of West Africa’s fastest-growing industrial groups. Chukwuma built his career from the Nnewi spare-parts trading ecosystem, launching Gabros International in 1980 before expanding into plastics, component manufacturing, manufacturing and large-scale assembly.
He formalised the Innoson Group in the early 1980s and entered full vehicle manufacturing in 2007, creating IVM now a supplier to the Nigerian Army, police, and multiple state governments.
Chukwuma’s model leverages backward integration, with subsidiaries spanning plastics, tyres, tubes, motorcycles and industrial components. The company has also invested in CNG-powered vehicles and commissioned a multibillion-naira plant expansion in 2024, positioning IVM to benefit from Nigeria’s push for local manufacturing and energy transition.
A Commander of the Order of the Niger, Chukwuma remains a central figure in Nigeria’s auto-industrial strategy, with operations anchored in Nnewi and Enugu.
