Ebonyi State University on Saturday, March 14th, 2020 will confer an Honorary Doctorate Degree on Business Administration to Chief Dr. Cletus Ibeto. Dr. Cletus Ibeto is the Chief Executive Officer of Ibeto Group, one of the largest business enterprises in southeast Nigeria, was born on November 6, 1952.
The story of his humble beginning is one that shows that one can start with nothing, yet be able to build an empire if he or she leverage on opportunities around and maintain a positive attitude.
After the Nigeria Civil War of 1967-1970, Sir Cletus Ibeto decided to pursue his dreams of becoming a successful trader. To raise capital for his business, one of his elder brothers, Louis, gave him a leather handbag and a round neck suit, which he sold along with a packet of APC tablets he picked up at an evacuated hospital.
With the little money he raised from the sales of these items, Ibeto was able to start and gradually grow his business.
During the government of Shehu Shagari, a policy in the country enabled the importation of goods without an import license. This period helped Ibeto amass a great deal of fortune, which he subsequently put back into his business to grow it sporadically till the import licenses were then reintroduced
Read Also: ULTRA MODERN UMUENEM HALL: Dr. Cletus Ibeto Gift To His Community (Photos)
With this new development, he was able to secure an import license worth 3 million Naira, at a time when the value of a dollar was equal to 68 kobo.
With this scarce license, he proceeded to import 65 containers of motor spare parts. His promptness to secure a license greatly favoured him yet again because, shortly after he had secured his, the country made it almost impossible for anyone to secure an import license, and to make matters worse for budding entrepreneurs, the government changed hands and the borders closed, temporarily shutting down all forms of importation.
By the year 1995, the Ibeto group built a manufacturing factory and became the largest indigenous manufacturer of auto spare parts in Nigeria. The following year, on October 2, 1996, he set up another manufacturing company called Ibeto Petrochemical Industries Limited; which manufactures oil lubricants and other various petroleum products both for local and international trade. The company has the largest liquid storage facility for petroleum products in Nigeria, with a large capacity to store over 60,000 metric tons.
It is undisputable that today, Dr. Cletus Ibeto is one of the richest people in Nigerians with a net worth in an excess of 3 billion dollars according to Ventures Africa (2013) and a vast conglomerate heavily placed in various sectors of the economy, such as cement, automotive parts, petrochemicals, hospitality, real estate, banking & finance, and oil & gas.
Read Also: Biography of Dr. Cletus Ibeto
Through his philanthropy, Chief Cletus Ibeto has touched many lives that include;
The award of over 200 secondary and university scholarships to deserving, indigent Nigerian youths.
Instituted and maintains in perpetuity a prize award foundation for the best graduating student in pediatrics at the Nnamdi Azikiwe University, College Of Medicine, Nnewi, Anambra State.
Instituted and maintains in perpetuity a prize award foundation for the best graduating student in the department of Electrical/Electronics Engineering, Federal University of Technology, Owerri, Imo State. Extensive Community Support Services in Rural Electrification projects with donation and installation of transformers, borehole water projects to communities and institutions of learning.
Constructed and maintains a 20km road and a multipurpose hall for the Nnewi community.
Constructed the biggest but yet-to-be commissioned N650 Million-worth Medical Diagnostic Center at the University of Nigeria (UNN), Enugu Campus (renowned to be the largest in the West African sub-region).
Constructed and donated Departmental buildings to Nnamdi Azikiwe University Teaching Hospital Nnewi.
On the construction of the most modern and contemporary Catholic Youth Village located in Amansea (near Awka) in Anambra
State, Dr. Ibeto was acknowledged as the single largest donor and developed 250 number self-contained rooms of hostel accommodations within the Village designed to mitigate the accommodation challenges of students of Nnamdi Azikiwe University.
Constructed and donated a world-class church building, chancery and Conference Centre to St. Cletus Catholic Church, Otolo Nnewi, Anambra State.
Sponsors annual comprehensive medical/surgical outreaches to communities that have restored health to thousands of sick and helpless Nigerians and prevented death for many.
Extensive development programme for host communities to his numerous businesses.
Dr. Ibeto is equally a recipient of numerous awards which includes;
Gold Service Award from the Rotary Club of Enugu, Rotary International District 9140.
Three-Ruby Paul Harris Fellow from the Rotary Foundation International.
Certificate of Merit from the Government of Anambra State of Nigeria.
Award of Excellence by the Pilgrims Africa Health Foundation.
National Honour, Officer of Order of the Niger, OON.
Doctor of Business Administration (DBA), Honoris Causa, University of Nigeria.
National Honour, Commander of the Order of the Niger, CON.
Dr. Cletus Ibeto is a recipient of the Anaedoonline Excellence Award.
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