Did Ifeanyi Ubah truly became a millionaire at the age of 17?
If you are searching on Google for:
- Ifeanyi Ubah Capital Oil success story
- Senator Ifeanyi Ubah’s life story
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Today in this post, we will be looking at the life of one man, Ifeanyi Ubah, whose grass to grace success story holds a lot of lessons for every young man or woman out there.
There is always a secret behind every successful man out there. No man became successful to the point of being a billionaire, just like that.
It doesn’t matter what you are going through right now or who has written you off. Everything may not be working exactly the way you had planned or imagined. But that is not enough reason to throw in the towel or give up.
See how Ifeanyi Ubah was able to rise to limelight regardless of the odds that were against him in life and do the same.
His Early Life
Born on September 3rd, 1971 to the family of Mr. And Mrs. Alphonsus Ubah of Umuanuka, Otolo Nnewi, Anambra State, Nigeria, Ifeanyi Patrick Ubah was the first son of seven children.
People who are born into families with multiple numbers of children can easily relate to the struggles and hardship that is common in such families, especially when the parents are not well to do. Let’s go on with the story.
Ifeanyi Ubah’s parents were both teachers and committed Christians. Thus from a young age, they inculcated in Ifeanyi and his siblings the importance of living honestly, hardwork, patience, putting others first and serving God. Priceless virtues which helped mould and shape their future.
His parents, knowing the value of education were determined to see Ifeanyi Ubah and his siblings complete their education.
This they struggled to do until after he was through with Okongwu Memorial Grammar School (OMGS), Nnewi, Ifeanyi decided to drop in order to support his parents in taking care of his siblings by venturing into business.
This decision actually broke his father’s heart to the point that he cried. Imagining how difficult life without education will be for his son, it took him time before he gave his consent. A consent which came after Ifeanyi had explained and promised him once things get better, he would go back to school and develop himself intellectually.
Having dropped out of school, Ifeanyi Ubah became an apprentice to a businessman. A decision that helped build and sharpen his business skills.
It is important at this point you realise that without gaining the proper knowledge of any business you want to start or invest, your chances of succeeding in that business are very slim. I cannot over-emphasize this.
As an apprentice, Ifeanyi Ubah was very humble and worked very hard. Those who knew him then testifies that were times he worked for nothing less than 12 hours at a stretch. (It takes humility and diligence to learn)
The Rise Of Ifeanyi Ubah
Though he was 16 when he started out as an apprentice, Ifeanyi Ubah rose very fast in business.
He never wasted time in starting his own tyre business and by 18, he was already travelling to Ghana and exporting tyres there from Nigeria.
He soon became of the biggest suppliers of automobile tyres from Nigeria to Ghana. One of his biggest customers then among the traders in Ghana was Kingsman Enterprises.
At 19 years, Ifeanyi made his first million and that same year expanded his business activities to various places.
People often believe that without stealing or doing anything illegal, it’s not possible for a young man to make up to a million naira at 19. But from the life of young Ifeanyi Ubah you can see this is just a myth. Anybody who sets himself on the path of success can achieve it with the right approach.
Among the places Ifeanyi Ubah quickly expanded his business from Ghana is Liberia and Sierra Leone. Since everything has started working out fine for him, the young man decided to settle down at Liberia.
After some time in Liberia, the Liberian civil war broke out and Ifeanyi was forced to move back to Nigeria since his business was being affected over there. In Nigeria, he settled at Lagos which was then rising as the economic capital of Nigeria.
While in Nigeria, Ifeanyi Ubah’s business continued to flourish. This led him to expand his business into auto spare parts. He began to supply this to the Democratic Republic of Congo (DR Congo).
It did not take long before he gained recognition there for his great leadership potentials. The Nigerian community in DR Congo then made him their president. While in this position, Ifeanyi took care of the feeding of several Nigerians who fled from Congo Brazzaville as a result of the chaos there.
As his business continued to grow, he expanded into South Africa, Dubai, England, Belgium, Germany and several other places.
To further help him sharpen his business skills and success, Ifeanyi got himself a mentor in the person of Chief Cletus Ibeto (Chairman, Ibeto Group of Companies).
Being a heavyweight in business and a serious investor in Oil and Gas, Cement, Banking and Finance, Auto Spare Parts and Hospitality, Chief Cletus Ibeto advised the young Ifeanyi Ubah to invest in Oil and Gas. (An advice that has proven over the years to be worth more than gold.)
Taking this advice, Ubah invested heavily in Oil and Gas and founded Capital Oil in 2011. (A company that today handles 30% of Nigeria’s daily petroleum usage.)
His relationship with Chief Cletus Ibeto was very significant and rewarding as he provided Ubah the platform to procure products that his company supplies to various countries including Democratic Republic of Congo.
As of 2013, Capital Oil has expanded into haulage, transportation and retail of petroleum products. Following this, Ifeanyi Ubah built three (3) of the biggest Oil and Gas depots in Nigeria with a combined capacity to berth 3 to 6 vessels simultaneously and 32 loading arms.
The Capital Oil group today accounts for about 30% or more of daily petroleum product distribution in Nigeria. Not only this, the group employs a workforce of over 3000 directly and 1000 indirectly.
The group also owns the largest fleet of marine vessels, barges and tugboats in Nigeria, including a large fleet of petrol tankers, a Tank farm with a storage capacity of over 190 million litres, a fleet of over 400 tankers for the easy distribution of petroleum products all over the country.
Just like Aliko Dangote, Ifeanyi Ubah is working on building a petroleum refinery in Nigeria. He has already acquired enough space for this and is waiting for approval from the Department of Petroleum Resources to kickstart.
His Quest For Knowledge And Academic Recognition
You will remember I told you earlier how he made a promise to his father that when he has succeeded in making money, he would also go for knowledge to develop himself intellectually. In keeping this promise, Ifeanyi Ubah has participated in several educational programs both locally and internationally.
Some these includes several courses and seminars in leadership and business management, international workshops and business exhibitions, Automotive industrial week, Las Vegas, USA and Automechanika in Frankfurt, Germany.
Federal University of Technology Owerri (FUTO) in Imo state, awarded him Doctor of Management Technology (DMT)
Montclair State University, New Jersey, USA, awarded him an Honourary Doctorate of Philosophy in Critical and Creative Thinking.
He is also in the process of completing Owner/President Management Program at Harvard University, Boston, USA.
Other Companies And Football Club
Ifeanyi Ubah today seats on the board of several other companies. Some of these companies includes:
1. Chevron Oronite & Chemical Co. Ltd
2. Knoll & Hachfer Engineering Co. Ltd
3. Authority Media and Publications
4. Hero Communications Ltd
5. First Nigerian Independent Oil Co. Ltd
6. Commodity Giants Nigeria Ltd
7. Oil Force Nigeria Limited
8. Capital Group Congo S.arl. in Democratic Republic of Congo
9. FC Ifeanyi Ubah (his football club), etc.
In Nigeria, Ifeanyi Ubah is also widely known for his love for football. Instead of promoting foreign leagues, he bought a dying club (Gabros International) and turned the local club into the FC Ifeanyi Ubah that is a top dog in Nigerian Professional Football League today.
Ifeanyi Ubah is one of the greatest philanthropists Nigeria has ever produced.
He established an Educational Foundation that gives students in Universities scholarships, sunk several boreholes for his community, installed electricity and built/repaired several roads all over Nnewi.
Adding to this, Ifeanyi Ubah has built several churches and houses for the Catholic church and Christian clergies.
His company Capital Oil has distributed free Kerosene to Nnewi and different parts of Nigeria, and also supplies free petrol to motorists on different occasions.
Dr. Ifeanyi Ubah’s success story is truly that of grass to grace. Fondly called “Ebube Chukwu Uzor” which means “putting God first”, his life is a lesson for so many young people today.
From his commitment to hardwork to his selflessness, his quest for knowledge, philanthropy, ability to recognise opportunities and other entrepreneurial skills, Ifeanyi Ubah is a role model for us all.
It is easy for people to recognise problems or challenges around them like Ifeanyi Ubah did, but doing something tangible about it is what separates men from boys.
Do not just complain about the odds that are against you, take a bold step and do something about it.
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Thanks for reading!