Renowned businessman Dr. Obinna Iyiegbu, widely known as Obi Cubana, has announced plans to establish a tricycle assembly plant in Ebonyi State. The entrepreneur, who is the Chairman of Cubana Group of Companies, shared the exciting news on Tuesday in Abakaliki, following a meeting with the state’s Governor, Francis Nwifuru.
Obi Cubana, whose business empire spans hospitality, entertainment, and now manufacturing, expressed his enthusiasm about expanding his business operations in Ebonyi. The announcement marks a significant development, as it highlights the growing attractiveness of Ebonyi as an investment destination.
During his meeting with Governor Nwifuru, Obi Cubana explained that his decision to set up the tricycle plant in Ebonyi was largely influenced by the state’s peaceful environment, enhanced security, and improved infrastructure—factors that have made the region an appealing place for business growth.
“There is a peaceful environment, enhanced security, and improved infrastructure under the Nwifuru-led administration,” Obi Cubana said. “I commend the governor for creating an enabling environment for businesses to thrive, making Ebonyi a preferred investment destination.”
He added that these conditions were crucial for ensuring the success of any business venture, particularly those in the manufacturing and assembly sectors, which require stability and adequate infrastructure to operate efficiently.
In recent years, Ebonyi has attracted various investments in different sectors, with the government actively encouraging industrialization and the growth of small and medium enterprises (SMEs). The state’s strategic focus on infrastructure development has played a pivotal role in transforming the business climate, making it increasingly competitive within the southeast region.
The tricycle assembly plant will be Obi Cubana’s latest project in Ebonyi, further diversifying his business ventures and providing new economic opportunities for the state. Tricycles, also known as “Keke NAPEP” in Nigeria, are a popular mode of transport across the country, especially in urban and semi-urban areas. They are often used for public transport and goods delivery, making them an essential part of the informal economy in many Nigerian states.
Obi Cubana highlighted the importance of industrialization in driving job creation and economic growth. The establishment of the plant will not only contribute to the local economy by producing tricycles but will also help to create direct and indirect jobs for the people of Ebonyi. The project is expected to provide numerous employment opportunities, from assembly line workers to logistics and distribution personnel, thus supporting the government’s efforts to reduce unemployment.
“As renowned businessmen, we cannot continue investing in other states while neglecting Ebonyi,” Obi Cubana said. “One of our major partners is from Ebonyi, and we are committed to supporting the state government’s job creation efforts. This will be achieved through industrialisation and agro-business ventures.”
In his statement, Obi Cubana noted that his decision to invest in Ebonyi was also influenced by his company’s partnership with local stakeholders. He mentioned that one of his major business partners is from the state, further cementing his commitment to contributing to the state’s economic development.
Governor Francis Nwifuru welcomed Obi Cubana’s investment and reiterated his administration’s commitment to creating a conducive environment for businesses to thrive. According to the governor, his government is focused on supporting initiatives that contribute to the growth of industries, reduce unemployment, and empower local communities.
“The Cubana Group’s decision to invest in Ebonyi is a testament to the state’s growing appeal as an investment hub,” Governor Nwifuru said. “We will continue to create policies that will encourage both local and foreign investors to come and set up their businesses here.”
Governor Nwifuru’s administration has prioritized infrastructure development, and the state has made significant strides in improving road networks, energy supply, and security—critical factors that have boosted investor confidence. The state has also focused on agro-business ventures, with many projects aimed at enhancing the local agricultural sector’s productivity and increasing its economic contribution.
Obi Cubana’s project aligns with these goals, further reinforcing the state’s commitment to diversifying its economy beyond agriculture. By attracting investments in manufacturing and other sectors, Ebonyi is positioning itself to be a competitive player in the regional and national economic landscape.
The planned tricycle assembly plant is expected to have a positive ripple effect on the local economy. Job creation will be a central focus of the project, with a wide range of employment opportunities expected to emerge. From factory workers to those in the transportation sector, the establishment of the plant could potentially lead to a significant reduction in unemployment in the region. Additionally, it could also stimulate other sectors of the economy, including retail, logistics, and service industries.
Furthermore, the plant will help diversify Ebonyi’s economic base, which has traditionally been centered around agriculture and natural resources. The manufacturing sector is a key driver of economic growth, and the establishment of an industrial plant in the state will contribute to the expansion of Ebonyi’s industrial base.
Obi Cubana’s announcement is a hopeful sign for the state’s economic future. As Nigeria continues to diversify its economy away from oil, local initiatives such as this offer a sustainable model for regional development. The emphasis on private sector-driven growth, as seen in Obi Cubana’s venture, is critical to achieving long-term economic stability.
Obi Cubana assured the public that preparations for the tricycle plant are already underway, and visible progress will be seen in the coming months. He expressed optimism about the future of the plant and the long-term benefits it will bring to the people of Ebonyi.
“Necessary preparations are underway to commence operations in earnest,” he stated. The plant is expected to provide not only tricycles for local use but also to supply the broader southeastern Nigerian market.
As the Cubana Group prepares to launch the tricycle assembly plant, it will undoubtedly be a significant milestone for Ebonyi’s industrial landscape and a potential model for other states to follow in terms of leveraging private-sector partnerships for sustainable economic development.
