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Cletus M. Ibeto (Biograhy)


Encyclopedia » Biography » Entreprenuers
Anambra

Cletus M. Ibeto (born November 6, 1952) is a Nigerian businessman from the industrial city of Nnewi. He is head of The Ibeto Group, the largest business enterprise from Nnewi, a city unique for its entrepreneurial spirit. In the early 1980s, when the oil crash and a controversial import licensing system was making a dent on the Nigerian manufacturing environment, Nnewi went through a growth period. The Ibeto Group under the leadership of Cletus Ibeto was a pace setter in the region and nation's trading and later manufacturing development.

Early history

Cletus Ibeto 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.

On October 2, 1996, he established Ibeto Petrochemical Industries Ltd. which is engaged in the blending of oil lubricants as well as the production of various types of petroleum products for local and international markets. The Company owns the largest liquid storage facilities for petroleum products in Nigeria with a capacity of over 60,000 metric tones located at Apapa Wharf and Ibru Jetty Complex, Lagos.

Honours

In 2008, Mr Cletus Madubugwu Ibeto received the national honour of Order of the Officer of the Niger [OON] from the Federal Republic of Nigeria for his outstanding contributions to the country through his manufacturing enterprise.

Ibeto Cement CompanyIbeto Cement Company Limited was incorporated in year 2002 in response to the Federal Government clarion call on indigenous entrepreneurs to go into cement bulk breaking and bagging. The Company has an ultra-modern cement bagging terminal at Bundu Ama, one of the suburbs in Port Harcourt metropolis. The project with a purpose built Jetty was completed on 26 June 2005 and currently has a production capacity of 5,400 bags of cement per hour. This facility apart from being the biggest in the West African sub-region, is also the most mechanized, modern and environmentally friendly. It is currently developing its Green Field for cement production at Ishielu in Ebonyi State. When completed, the cement manufacturing plant will have a 5 million MT production capacity when it goes into full production.

 

 

 

 

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