Nigerian entrepreneur and chairman of the Cubana Group, Dr. Obinna Iyiegbu, popularly known as Obi Cubana, has revealed his plans to establish a tricycle assembly plant in Ebonyi State. The announcement came during a press conference on Tuesday, March 25, 2025, following a meeting with Governor Francis Nwifuru in the state capital, Abakaliki. Obi Cubana shared the reasons behind his decision to invest in the region, highlighting the conducive business environment fostered by the state government.
Obi Cubana praised Governor Nwifuru’s administration for creating an atmosphere that supports business growth. “There is a peaceful environment, enhanced security, and improved infrastructure under the Nwifuru-led administration,” he said. “I commend the governor for creating an enabling environment for businesses to thrive, making Ebonyi a preferred investment destination.” His comments reflect the positive changes in the state, which have made it an attractive location for investments in various sectors.
The entrepreneur explained that the new project will focus on the assembly and distribution of tricycles, a business venture that aligns with the state’s efforts to encourage industrialization. He emphasized the importance of investing in his home state rather than focusing exclusively on opportunities in other parts of Nigeria. “As renowned businessmen, we cannot continue investing in other states while neglecting Ebonyi,” he stated. “One of our major partners is from Ebonyi, and we are committed to supporting the state government’s job creation efforts.”
Obi Cubana further highlighted the significance of the project in promoting both industrialization and agro-business within the state. “This initiative will play a vital role in boosting the industrial sector while also contributing to the growth of the agricultural sector,” he said. His remarks underline his belief that the state’s resources and strategic location present ample opportunities for such investments.
In his address, Obi Cubana assured that preparations for the project are already underway. He expressed confidence that substantial progress would be made in the coming months, with the plant expected to begin operations soon. “We are committed to seeing this project come to life, and we believe it will have a significant impact on the state’s economy,” he added.
The establishment of the tricycle assembly plant is expected to create numerous job opportunities, significantly impacting the local economy by providing employment and stimulating growth. Obi Cubana’s investment is seen as a step toward making Ebonyi an emerging hub for business and industrial development in Nigeria.
This initiative not only aims to support the state’s economic diversification but also serves as a testament to the growing confidence in Ebonyi’s potential as a business destination.
