These 10 Nigerian Billionaires all came from this small town in Nigeria – See List (PHOTOS)



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We earlier reported that a church in Ozubulu, not far from Nnewi had attacked by unknown gunmen. Governor Willie Obiano of Anambra state said two persons from Ozubulu who are known drrug barons in South Africa were the prime suspects of the attack on St Philips Catholic church.




Nnewi, Anambra state is once again in the news and this time it is because of a well-researched story written by journalist Eromo Egbejule for Forbes Africa on the number of billionaires in the town.

Nnewi has possibly bred more billionaires than any other town in Africa and is nicknamed the Japan of Africa.

According to Forbes Africa, these are 10 of the most prominent naira billionaires from Nnewi, in no particular order:

1. Cletus Ibeto

Cletus Ibeto

Cletus Ibeto is the chairman of the Ibeto Group. According to Wikipedia, he started out as a spare parts import dealer, after spending some time as an apprentice in the motor parts business, a gradual step taken by many eastern traders.

In March 1988, he stopped direct importation of lead acid automotive battery and plastic motor accessories after completing his factory in Nnewi. By 1995, The Ibeto Group had become one of the largest auto spare parts manufacturing outfits in the country.

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