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Who Is The Owner Of Ibeto Hotels In Abuja?

Who Is The Owner Of Ibeto Hotels In Abuja?

You have probably heard about Ibeto hotels if you live in or around the Gudu district in Abuja. In this article, the focus is on the owner of Ibeto hotels. So if that’s what you are here for, be sure to read till the end.

About Ibeto Hotels

Owner of Ibeto hotels

Ibeto hotels is a well-managed hotel located in the Gudu District of Abuja. It is a subsidiary of the Ibeto Group and it is managed by experts. Ibeto Hotels is a destination for both business and pleasure. Whether the purpose of your visit is work-related or just fun, Ibeto Hotels is bound to give you an enjoyable experience overall.

Owner of Ibeto Hotels

Owner of Ibeto Hotels

The owner of Ibeto Hotels is Cletus Madubugwu Ibeto. He was born in 1952, November 6. Ibeto is a Nigerian businessman, philanthropist, and entrepreneur and he hails from Nnewi, an industrial city in Anambra State, Nigeria. He founded and is the chairman of the Ibeto Group, of which Ibeto Hotels is a subsidiary. Ibeto Group is mostly known for manufacturing automotive spare parts and cement.

The Event That Contributed To The Success Story Of Cletus Ibeto

The owner of Ibeto Hotels is a good example of someone who sees an opportunity and is able to seize it and make the best of it. He saw an opportunity during a policy shift in the Shehu Shagari regime and Ibeto wasted no time to capitalize on his entrepreneurial acuity.

In 1980s, during Shagari’s regime, there was an oil crash and the import license was creating a strain in the manufacturing space in Nigeria. While importers were putting their shipments on hold, Ibeto went ahead to secure the 3 million naira import license. It was a time of growth for the Ibeto Group.

With the license, the owner of Ibeto Hotels imported essential motor components in 65 containers. By the time other importers tried to get the license, it became almost impossible as the price had gone up way higher than before. During that time, Shagari’s regime was overthrown by Major Muhammadu Buhari’s regime and during his regime, borders were closed off to any form of importing.

And so Ibeto Group literally had a monopoly when it came to motor replacement components and that was a big turnaround for the business.

Early History of Cletus Ibeto

The owner of Ibeto Hotes, Cletus Ibeto, set out as an import dealer for spare parts. But before that, he was an apprentice in the auto parts business. He completed his factory in 1988 in Nnewi and by 1995, the Ibeto Group had made a name for itself as one of the leading motor spare parts manufacturers in Nigeria.

Ibeto established Ibeto Petrochemicals Ltd in 1996, October 2 and they engaged in blending oil lubricants and producing different types of petroleum products for both local and global markets.

Cletus Ibeto has recorded massive success as head of Ibeto Groups with several subsidiaries under the company such as hospitality under which there is Ibeto Hotels, Palmex Agencies, Ibeto Energy Development, and others.

Conclusion

The owner of Ibeto Hotels in Abuja is Cletus Ibeto, a very successful businessman in Nigeria who is the head of the Ibeto Group. If you enjoyed reading this article, leave a comment below and follow aroundabuja.com for moe updates.

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