Igbo Businesses & Icons

10 Igbo Billionaires You Should Know About – Let Their Stories Inspire You

Igbo Billionaires, Ani Ìgbò: The Ìgbò people are known all over the world for their wealth. They’re one of the few ethnicities that can turn a pebble to gold within a short while. The past and present of the Ìgbò stand as evidence to back this fact. Before the invention of modern technology and Western civilization, the Ìgbò thrived independently in various businesses such as; agriculture, trading, craft making, etc.

After the Biafra war, many would have thought that the Igbo people can not rebound to be where they are today but they did! Unlike the lies peddled by Ìgbò-haters, Ndi Ìgbò believes in “Ikpata Ego” meaning that wealth takes a gradual process.

We have carefully sieved out Ten Igbo Billionaires you should know. These billionaires have the Ìgbò spirit and acumen in common. We believe that observation of these Ìgbò Billionaires will offer anyone the roadmap to attaining great success. Our number one will shock you!

Sir Louis Philip Odumegwu Ojukwu

He later would advance to create a transport company (Ojukwu Transport Company) to solve the challenges in transportation that faced him and others (Igbo people) at the time. Thus, the transportation company grew and expanded in almost all the states in Nigeria and consequently birthed the Ekene Dili Chukwu Motors and Izuchukwu Motors owners, who both were his early drivers and learned the business from him. During his prime, he was either involved in or headed most top businesses like the Nigerian Stock Exchange, The African Continental Bank, Shell Oil Nigeria Limited, Nigerian National Shipping Line, Nigerian Coal Corporation, and many more.

The first on our list is the late Sir Louis Odumegwu Ojukwu, a native of Nnewi in Anambra state and the father of the late Biafran leader Chukwuemeka Odumegwu Ojukwu. He was born in 1909 and died in 1966. He started his business career at the age of 20 in Agriculture before joining John Holt as a Tyre Salesman.

In 1945, he was awarded a KBE (Knight of the British Empire) because he supported the British government during the Second World War. After the war, raw materials from West Africa went high in demand and hence boosted the Ojukwu Transport Company. His net worth was estimated to be worth $4 billion at the current value. He was so wealthy and influential that during Queen Elizabeth’s 1956 visit, he hired the Nigerian government his Rolls-Royce to chauffeur the Queen.

Prince Arthur Eze

Arthur Eze is a wealthy oil mogul born on 27th November 1948 in Ukpo, Dunukofia LGA of Anambra state. He was born into a royal family hence the title of Prince in his name. After his secondary education at St. Augustin in Nkwerre, Imo state, he went to California where he studied chemical and mechanical engineering.

He has up to 22 oil licenses around Africa and is the founder of Atlas Oranto Petroleum which has extensions in various African countries. He is also a politician and a philanthropist, estimated to be worth over $5.8 billion. In 1992 after the deregulation of airlines, he established Triax Airlines with its base in Enugu. The corporation later stopped operation in 2000.

Chief Joseph Ukeji

Chief Joseph Ukeji is a reserved, wealthy Ìgbò man. He hails from Oraukwu in Idemmili North Local Government Area of Anambra state. He was mentored in the Textile business by his maternal uncle, Chief Andrew, Ichie Diji of Oraukwu. He is the owner of a conglomerate business known as Ejison Group of Companies.

The company is invested in Oil and gas, importation of consumer goods, manufacturing, hotels, etc. He is also a philanthropist whose generosity towards his society has fetched him a chieftaincy title, Ukpaka na Agbalu Ora. His net worth is estimated at the time of this report.

Chukwuma Innocent

Chukwuma Innocent, popularly as Innoson, is a businessman from Nnewi in Anambra state. He was born on 1st October 1961 and was the youngest in a family of six. He started as a motor spare parts trader in 1981 after learning the trade through the agelong Igba Boyi system introduced to him by his brother. He is the owner of Innoson Motors, an indigenous vehicle manufacturing company, in Nnewi, Anambra, Nigeria. He is worth around $1.5 billion.

Allen Onyema

Allen Onyema is a lawyer from Mbosi in the Ihiala Local Government Area of Anambra State. He read law at the University of Ibadan in 1987 and was called to the Nigerian Bar in 1989. In 1992, he resigned from the Head of Chambers to focus on real estate deals that came through one of the squatters at the place he used to squat in Oshodi.

He named the real estate business Onyema & Co. He started Continental Business Links Limited, where he linked local importers to foreign exporters. He later established his aviation business, Air Peace, to create more jobs for Nigerians. According to him, “Air Peace is for the welfare of mankind and not really for us”; an affirmation of his nationalist personality.

During the 2019 xenophobic attacks in South Africa, his company Air Peace offered to evacuate Nigerians from South Africa for free. He is said to be worth around $300-$500 million.

Chief Sam Maduka Onyishi

Chief Sam Maduka Onyishi is a wealthy businessman and pro-Ìgbò from Enugu state. He is the Chairman of Peace Mass Transit, PMT. In an interview, he said, “Poverty made me work as a laborer, bus conductor, bus driver”. He lost his father at the age of 12 and was compelled to support his mother who was only a housewife to support his other siblings.

Due to his interest in education, he later acquired a diploma degree from the University of Nigeria, Nsukka, and a Master’s in Business Administration (MBA) in Entrepreneurship from the Institute for Transformative Thought and Learning at the Doctoral Research Centre of the University of Arizona, United States. The experiences he garnered over the years sparked his desire of becoming one of the wealthiest people in Ìgbò land.

His transportation company started during his time at UNN in 1994 with just 2 buses and about 45 buses after his graduation. Because of his reliability, Inehmic Auto dealers offered him the opportunity to acquire vehicles on hire purchase with zero interest. His businesses grew across different sectors of the economy with branches both home and abroad. But his main business branches are situated in the southeastern region. There is no verified known net worth of his as of the time of this report.

Senator Orji Uzor Kalu

Orji Uzor Kalu has been a businessman before becoming a politician. He is also said to be one of the richest politicians from the southeastern part of Nigeria with over $3.2 billion net worth. He was born on the 21st of April 1960. He started his palm oil business with a $35 loan he got from his mother. He would buy palm oil in Ìgbò-land and sell it to the Northern region where it was scarce.

He was once into the importation of luxurious furniture, sugar, rice, etc. It was disclosed in one of his interviews that his big success started with the supply of arms and ammunition contract with Nigeria’s military in the early 80s. He is the founder of Slok Holding, a conglomerate invested in shipping, banking, oil trading, oil manufacturing, and the media. He was a governor of Abia state, a senator, and also served as a Chief Whip of the House of Senate, Federal Republic of Nigeria.

Chris Abani

Chris Abani is a writer from Afikpo, Ebonyi state. He was born to a Nigerian father and an English Woman on December 27, 1966. At the age of 16, he wrote his first thriller novel, Masters of the Board which launched him to stardom. The thriller was an allegory centered on the Nigeria 1985 coup. He was jailed three times on account of suspicion to overthrow the government. After the third time, he moved to the United Kingdom. He is said to be worth above $5 Million.

Leo Stan Ekeh

Leonard Stanley Nnamdi Ekeh is a Nigerian entrepreneur and philanthropist with a net worth of about $1 billion. He was born on 22nd February 1956 in Ubomiri Mbaitolu of Imo State. He had his secondary education at Holy Ghost College, Owerri, obtained a BSC degree in Economics from Punjab University, India, and also had his postgraduate degree program in Risk Management at Nottingham University, England.

He spearheaded the creation of these companies; Zinox, Technology Distribution Limited, Tasks Systems Limited, Buyright Africa Dotcom, etc. His company Zinox has been adopted by so many countries including Nigeria, to transform their electoral processes. The Zinox Group acquired about 99% of Konga.com shares.

Pascal Gabriel Dozie

Last but not least on our list; Pascal Edozie, was born in Owerri, Imo state on 9th April 1939. He acquired his secondary education at Holy Ghost College before traveling to London where he studied Economics at the London School of Economics. He also studied Operational Research and Industrial Engineering at City University in London where he also got his Master’s degree.

He was once a part-time lecturer at the North-Western Polytechnic, London. He is a business tycoon. His first company, African Development Consulting Group (ADCG), worked with big businesses like Nestle and Pfizer and the Central Bank of Nigeria (CBN).

In 1985, he worked as a chairman of the defunct Progress Bank before establishing Diamond Bank in the east, to solve the banking challenges the easterners at the time. After meeting the CBN requirements in 1990, the bank began its standard operation in 1991.

He was a one-time President of the Nigerian Stock Exchange. He is one of the major shareholders in MTN Group with about $102 million in shares. He was the chairman of MTN Group for 18 years until his retirement in 2019. He is worth around $1 billion.

This Piece Was Written By Chidera Oti and Edited By Chuka Nduneseokwu