Ifeanyi Ubah: 1971-2024 (1) – The Nation Newspaper
From a humble background, this son of a school principal rose from a point of relative obscurity to becoming one of Nigeria’s most prominent business and political figures. His story is an example of the “zero to hero” narrative of entrepreneurial grit and political stardom – not a dream or fairytale, but the grim reality that one can rise to the heights of success without the advantages of birth or fortune.
Ifeanyi Ubah’s rise to prominence was marked by both remarkable achievements and controversies, painting a portrait of a modern Nigerian businessman-turned-politician whose accomplishments in the private and public sectors stand as a monumental testament.
Born on September 3, 1971, in Nnewi, Anambra State, Ubah’s early life was characterized by modest beginnings. As the son of a school principal, he surprised many by choosing to delve into the auto parts trade, popularly known as the “Spare Parts” business, rather than follow in his father’s footsteps, pursue a university education, and become a civil servant or join the booming private sector. Ifeanyi Ubah seemed determined to forge his own path, despite entreaties from his family and peers.
Bound for Lagos, Ubah’s early exposure to commerce would later prove instrumental in shaping his business acumen, perhaps more than the confines of academia could have. On establishing himself, he ventured into the spare parts business, using his energy and savvy to expand beyond his initial starting point. From these humble beginnings, he diversified into other sectors, including oil and gas. His company, Capital Oil and Gas, not only established itself as a well-known brand, but also became the flagship of his business interests and one of Nigeria’s major players in the downstream oil and gas sector.
Under Ubah’s leadership, Capital Oil grew to become one of Nigeria’s largest indigenous oil and gas companies playing in the downstream sector. The company’s strategic location at the Apapa Wharf in Lagos and its massive storage facilities positioned it as a key player in Nigeria’s petroleum products distribution network. The facility’s storage capacity of over 190 million liters made it one of the largest privately owned depots in Africa.Related News
However, this period also saw its share of challenges. The company faced scrutiny over fuel subsidy payments and had various run-ins with financial institutions over debt issues. Despite these challenges, Ubah managed to maintain and even expand his business interests.
Demonstrating his business versatility, Ubah further expanded beyond oil and gas, venturing into various sectors including real estate development, international trade, manufacturing, sports management (through the acquisition of Ifeanyi Ubah Football Club), and media (with Authority Newspaper, AUTHORITY FM, and plans to launch Authority Television before his demise).
His football club, FC Ifeanyi Ubah, put Anambra State back on the National Football League scene, using his contacts to bring professional football to his home state and help develop young talent in Nigerian sports, including winning the prestigious FA Cup in 2016 and representing the state in continental club competitions.
His newspaper, radio and television station, under the brand name, Authority, offered the young Ubah the opportunity to afford the SouthEast and the Igbo nation an opportunity to enhance its narratives in the public sphere, challenging the long held dominance of the Lagos/Ibadan press, something a responsibility a number of top Igbos icons have shied away from save for the likes of Orji Uzor Kalu and the late Emmanuel Iwuayanwu. Not only that it produced a new crop of journalists who would go on to become household names on print and radio.
Ubah’s foray into politics at both state and national levels did not begin with his decision to run for governor of Anambra State under the Labour Party platform in 2013. He had earlier begun his political involvement by delivering Nnewi North LGA to Chris Ngige’s Action Congress, which was the local government of the then National Leader of the All Progressives Grand Alliance (APGA) and former Biafran secessionist leader Dim Ikemba Odumegwu Ojukwu, in the 2010 election. This was a significant feat for a political newcomer like Ubah at the time. Ubah then went on to seek the office of governor on three occasions, proving his ability to combine his mastery in business with the art of politics. Although he remained unsuccessful until his demise, his relevance as a top political player could not be dismissed. The Labour Party’s two victories in the then Anambra State Local Government elections of 2013, where he repeatedly demystifed Governor Obi, forcing the latter to impose a sole administrator in Nnewi showed that Ubah was no longer a lightweight while his shock defeat of political titans like Senator Andy Uba and Nicholas Ukachukwu with an unknown political platform, Young People’s Party, YPP in 2019 earned him widespread acclaim. Repeating such a performance in the 2023 polls solidified his status as a formidable political force, as well as put an end to the assumption that his victory in 2019 was a merely a flash in the pan.
