Nnewi, the Anambra town that breeds billionaires

By Orji, Somtoochukwu

25 March 2022

Nnewi ranks amongst the top commercial hubs in Anambra state. People know Nnewi as a town of billionaires where the number of automobiles may be equal to the number of human beings there. The people of this town are usually smart and business-minded. When you think of sales of auto parts, think of Nnewi. This town has produced more than 10 billionaires. The town has some of the leading brands in the state within it. The late warlord Dim Chukwuemeka Odumegwu Ojukwu hailed from this town. Here are some of the billionaires you probably didn’t know are from Nnewi.

Dr. Cosmas Maduka

Cosmas Maduka is the chairman of Coscharis group, one of the foremost brands in Nigeria and one that Anambra takes pride in. Dr. Cosmas is an eminent businessman and philanthropist. He was born on December 24, 1958 to late Peter and Rose Maduka. He lost his father while he was still tender. Cosmas had to drop out of school to hawk akara as a means of survival.

Later on, Cosmas Maduka went to serve his uncle in his automobile business. At the age of maturity following the Igbo “nwa boy” system, the uncle sent him home with just #200. This amount was nothing close to what he deserved for the service; there and then he learned that what you get in life is not what you deserve but what you negotiated.

Being a man who has business in his DNA, Cosmas still went ahead in life to establish himself with the money.

Today, Coscharis group is a leading name in the Nigerian automobile industry. The company’s number one product is Coscharis motors. They also specialize in sectors like the medical, engineering, communications, agriculture and many others.

Dr. Innocent Chukwuma

Dr. Innocent Ifediaso Chukwuma is the founder of Innoson group. He was born on October 1, 1961. He had his early education in his hometown and wanted to pursue a degree in Engineering but he didn’t make it; so he turned to trade. He learned the art of buying and selling from his brother, Gabriel of Gabros International, and also from his master, Chief Romanus Onwuka who was a motorcycle spare parts trader.

If thinking outside the box were to be a person, it would be Innocent Chukwuma. Innocent thought of a way to bring in more motorcycles into Nigeria instead of the usual 40 pieces in a 40-feet container back in the day. He thought to disassemble the motorcycles leaving the parts in pieces so the container would contain more than the usual number. This gave him profits upon profits. We can boast of made-in-Nigeria cars all thanks to the Innoson group. About 70% of the auto parts are produced here in Nigeria while the remaining 30% is gotten from other countries. His company is known for quality and great standards. They also manufacture plastics, tubes and tyres, motorcycles and the rest.

Dr. Ifeanyi Ubah

Dr. Ifeanyi Ubah is the Chief Executive Officer of Capital Oil and Gas  He is a seating senator representing Anambra South senatorial district. The businessman was born on September 3, 1971. He is the Founder of Ifeanyi Ubah Football Club, which has an 18,000 seating capacity stadium. It is not every day that you see individuals who own clubs in this part of the world. Dr. Uba is a passionate lover of football. The oil mogul had to drop out of school while he was very young to learn a trade. He started struggling quite early in life to become who he is today. His oil and gas firm distributes half of the petroleum products used in the country. Dr. Ifeanyi Ubah is married to Mrs Uchenna Ubah and they are blessed with children.

Dr. Alexander Chika Okafor

Dr. Alexander Chika Okafor is one of the thriving industrialists of the century. He is the Founder of Chicason group of companies. He was born on February 6, 1957. He lost his father when he was very young and learned to stand for himself in such a difficult time. He helped to make ends meet by selling akara and doing other little jobs he could find. He later went to serve as an apprentice in his uncle’s business. He learned how to manage people and make sales and that groomed the businessman in him. Dr. Chika Okafor is a member of the Institute of Corporate Administration (FICA). He is married to Engr. Favour Okafor and they are blessed with children.

Sir Louis Onwugbenu

Sir Louis Izuchukwu Onwugbenu is a well-known businessman and philanthropist from Nnewi. He was born on August 15, 1953 to late Pa Augustine and Cecilia Onwugbenu. Being surrounded by people who are doing well in the auto parts business, he quickly adapted to the business and established his own line in 1972. Louis is a man of faith who believes the good things of life are given to men by God. The capital for his business was so small because that was what he could afford. The young man groomed the business and didn’t give himself a chance to give up when things became tight. In Nnewi, the name Louis Carter Onwugbenu is synonymous with philanthropy. He has uncountable records of helping the poor and the less privileged. Nnewi people look forward to his birthday and 24th December every year because of his generosity and charity work on those special days. Sir Louis has built the Louis Carter group to become an international enterprise.