Nigerian entrepreneur, philanthropist, and chairman of the Cubana Group, Dr. Obinna Iyiegbu, widely known as Obi Cubana, has unveiled plans to establish a tricycle assembly plant in Ebonyi State. The initiative is aimed at fostering industrialization, creating job opportunities, and boosting the local economy.
Obi Cubana made this announcement on Tuesday, March 25, 2025, following a high-level meeting with Governor Francis Nwifuru at the Government House in Abakaliki. He expressed confidence in the state’s leadership and highlighted several key factors that influenced his decision to invest in Ebonyi.
During his interaction with journalists, Obi Cubana praised the Nwifuru-led administration for prioritizing peace, security, and infrastructural development. He noted that these efforts have made Ebonyi an attractive destination for investment, paving the way for business expansion and industrial growth.
“The present administration has worked tirelessly to improve security, develop critical infrastructure, and create a peaceful environment for businesses to thrive,” Obi Cubana stated. “This is why we are confident that investing in Ebonyi State will yield positive results, not just for our company but for the people of the state.”
The business mogul explained that the upcoming project will focus on assembling and distributing tricycles, which are an essential means of transportation in many parts of Nigeria. By setting up a local assembly plant, the initiative aims to reduce importation costs, promote local production, and generate employment for the state’s youth.
Obi Cubana also stressed the importance of investing in his home region rather than concentrating business operations solely in other states. He emphasized that his commitment to Ebonyi goes beyond financial gains, as he seeks to contribute meaningfully to the state’s economic development.
“We cannot continue investing in other states while neglecting Ebonyi, our home,” he said. “One of our key business partners is from this state, and together, we are dedicated to supporting the government’s efforts in job creation and economic empowerment.”
He further disclosed that the project would align with the state’s broader industrialization and agro-business initiatives, strengthening Ebonyi’s position as an emerging business hub in the region. He reassured stakeholders that preparations were already in motion, with significant progress expected in the coming months.
“We have begun taking the necessary steps to bring this vision to life. In the next few months, we expect to see substantial progress in setting up the assembly plant and launching operations,” he added.
The establishment of the tricycle factory is expected to boost local employment, attract further investments, and enhance Ebonyi’s reputation as a viable destination for industrial and commercial activities. Analysts predict that the initiative will positively impact the transport sector, providing cost-effective mobility solutions while driving economic growth.
This move reinforces Obi Cubana’s track record as a visionary entrepreneur committed to nation-building, job creation, and supporting grassroots development. His latest venture is yet another testament to his belief in the power of strategic investments to uplift communities and foster economic transformation.