This was far more ethical than a business decision, but Ibeto argued to his astonished management that even though the group desperately needed the fund to inject into the construction of the cement terminals at Bunda Ama Creek, they also had a responsibility not to escalate the war and perhaps, in future attract international sanctions. Another money-spinner in the group is Ibeto Petrochemical Industries Limited which started with the Expresso Oil brand of lubricant, but has now diversified into establishment of a tank farm that at the time in , boasts of the largest storage facility in Apapa, Lagos with 36 tanks with storage capacity for 1.
Today, the company? The ever restive Ibeto is also a big player in commodity trading through his company, Palmex Agencies Limited. Since he won the battle for the re-opening of his cement terminals in Port Harcourt, closed by draconian and intemperate President Olusegun Obasanjo regime, Ibeto has truly joined the league of cement kings, especially with his acquisition of Eastern Bulkcem Company Limited and Nigerian Cement Company Limited, Nigercem Nkalagu.
The irony of Ibeto? But four months after commissioning the N12 billion bagging terminals, with patronage booming, Obasanjo closed the company. It took the coming of President Shehu Yar? Adua administration to reopen Ibeto? Of course, cement is one of the best businesses in the world,?
It is better than crude oil. If you are talking about the development of infrastructure, you need cement. I don? And the competitors are not many because it is a big budget issue.? But then, if you want to be rooted in solid wealth, Ibeto says it is a great folly to close your eyes to investing widely in property. The white man calls the money you have in your bank? Once his eyes opened to this wisdom in , Ibeto says he has gone haywire in investing in prime property in all the prime areas of Nigeria.
You cannot believe what I have in real estate,? And that is between and now. And any one I have would be choice property. I found out that money is coming out of these real estate investments. Plenty money! Nigeria is indeed a land of opportunities. Real estate is one thing that would outlive you.? But every rosy story came with it thorns. Ibeto has waded through many thorns. Go back to his beginnings. Cletus Ibeto basically turned into a monopolist for engine save parts. He concurred that the second was a defining moment for his life and business.
Cletus Ibeto began as an extra parts import vendor, in the wake of investing some energy as a student in the engine parts business, a steady advance taken by numerous eastern brokers. In March he halted direct importation of lead-corrosive car batteries and plastic engine frill, in the wake of finishing his processing plant in Nnewi. By The Ibeto Group had gotten one of the biggest auto extra parts fabricating outfits in the nation. The Company claims the biggest fluid storerooms for oil-based goods in Nigeria with a limit of more than 60, metric tons situated at Apapa Wharf and Ibru Jetty Complex, Lagos.
He is among the richest people in Nigeria. Cletus Ibeto is one of the persons who helped to build Innocent Chukwuma of Innoson Motors to the top. Some cars from his personal luxury car collection include:. The Rolls Royce is powered by a V12, 6. The passengers can enjoy a superior ride in a bespoke interior. Numerous A-grade leather and hand-crafted wood materials are available to dress up the interior, including a starlight headliner, a rear cocktail area, a rear entertainment system, a gallery with customized artwork, a backlit mirror, a power footrest, and so much more.
The updated version of this car has 5 display screens, including a It rides on a 4. The Company was incorporated on 2nd June and is a major player in automotive lead-acid battery manufacturing in Nigeria. The interesting thing is that the company produces locally, from its lead and aluminum smelting plant, all the lead and aluminum required for its operations.
The company was established in October 2nd with a blending plant in Nnewi, Anambra State. They blend oil lubricants and produce various types of petroleum products for local and international markets. The company also owns one of the largest liquid storage facilities for petroleum products in Nigeria with a capacity of over 60, metric tones located at Apapa Wharf and Ibru Jetty Complex, Lagos. The group commenced the business in with the importation of bagged cement from Portland before establishing Ibeto Cement in This is a subsidiary of Ibeto Cement Company Limited and is also engaged in the business of importation of bulk cement and bagging of same in its factory premises in Rumuolumeni waterfront, Rivers State.
NIGERCEM was very important for Ibeto; if he was to remain an importer of cement, he needed to own a cement manufacturing plant as it was the requirement. The hotel was established in March and has become synonymous with hospitality.
The company was established on 11th April, Palmex Agencies Limited incorporated on September 1, is engaged in general merchandising. The company imports and distributes commodity items like rice, sugar and fertilizer. It was incorporated in to serve the Nigerian public in their quest for colour print and photographic processing. Ibeto industries have modern printing machines that meet the need of customers and they have branches across Nigeria. This Company was founded in March and is in the business of real estate development.
Ibeto Hotel Abuja is a room four-star property that was commissioned early in and the company has interest in replicating Ibeto Hotel Abuja in other major cities in Nigeria. Contact us today to make your brand the preferred choice for our audience of entrepreneurs and business leaders.
To keep track of our activities, follow us on Instagram. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. Notify me of new posts by email. This site uses Akismet to reduce spam. Learn how your comment data is processed.
Sign in.
0コメント