Nigerian businessman and chairman of the Cubana Group, Dr. Obinna Iyiegbu, popularly known as Obi Cubana, has unveiled plans to set up a tricycle assembly plant in Ebonyi State.
This move is expected to enhance industrialization, boost employment, and contribute to the state’s economic development.
Speaking after a meeting with Governor Francis Nwifuru in Abakaliki on Tuesday, March 25, 2025, Obi Cubana highlighted the factors that influenced his decision to invest in the state.
He attributed his interest to the peaceful environment, improved security, and infrastructural development spearheaded by the current administration.
“There is a peaceful environment, enhanced security, and improved infrastructure under the Nwifuru-led administration. I commend the governor for creating an enabling environment for businesses to thrive, making Ebonyi a preferred investment destination,” he stated.
The planned investment will focus on the assembly and sale of tricycles, a sector that has seen significant growth due to Nigeria’s economic situation.
Many individuals have turned to tricycle businesses as a means of livelihood, making this initiative a timely and impactful development.
Moreover, Obi Cubana emphasized the need for prominent business figures to invest in their home regions instead of focusing solely on other states.
According to him, Ebonyi, with its improving business climate, presents an excellent opportunity for growth and job creation.
“As renowned businessmen, we cannot continue investing in other states while neglecting Ebonyi. One of our major partners is from Ebonyi, and we are committed to supporting the state government’s job creation efforts,” he added.
The business mogul also noted that this initiative aligns with broader efforts to drive industrialization and expand agro-business ventures within the state.
The tricycle assembly plant is expected to generate numerous employment opportunities for residents, further strengthening Ebonyi’s economic landscape.
Furthermore, preparations for the project are already underway, and significant progress is anticipated in the coming months.
Obi Cubana reassured that all necessary measures are being put in place to ensure a smooth takeoff.
The establishment of a tricycle assembly plant in Ebonyi is considered a significant step towards enhancing the state’s economic growth.
Additionally, with the state government’s commitment to creating an investor-friendly environment, more business expansions are expected to follow.
This latest move by Obi Cubana serves as a model for other entrepreneurs looking to explore opportunities within their home states.
