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10 Facts About Nnewi, The Nigerian Village With The Most Billionaires”

10 Facts About Nnewi, The Nigerian Village With The Most Billionaires”

A first-timer to Nnewi will indeed be intimidated by the massive residential mansions that line the wee little village. Nnewi is a town located in Anambra state; southeastern Nigeria. Currently, it encompasses Nnewi North and Nnewi South local government areas. In these two local government areas include four autonomous quarters which include Otolo, Uruagu, Umudim and Nnewichi. However, has come up with facts about the Nigerian village with the highest number of billionaires(in dollars)

1. The First Indigenous Car Manufacturing Plant:

The first Car manufacturing plant owned and managed by a Nigerian is located in Nnewi. Innoson vehicles whose owner is billionaire Innocent Chukwuma are manufactured in this plant. He also oversees the other plant in nearby Enugu. You guessed right, Innocent Chukwuma is from Nnewi!

2. The First Nigerian Billionaire:

It is alleged that the country’s first billionaire is Louis Odumegwu Ojukwu. He doubles as the father of the late Biafran leader Odumegwu Ojukwu. Louis Ojukwu was profiled by TIME magazine in 1965. He made his money by importing dried fish for resale and diversifying into textiles, cement production and transport. In today’s economic value it is about 4 billion dollars.

3. Sacred Pythons:

It is forbidden to kill pythons or “eke” in igbo language. This is due to the fact that these pythons are totems to the goddess. If you kill these pythons, you are required to perform sacrifices to appease the gods of the land

4. Majority are Christians:

The majority of people who dwell in Nnewi are Christians. One major sight predominant in Nnewi is gigantic cathedrals of the Roman Catholic and Anglican churches. Amidst the numerous traditions they keep; a good number go to church.

5. Good Road Network:

What else can anyone expect? Due to its reputation, it is no doubt that the town is well connected with good road network. The administration of former governor Peter Obi also made this feasible.

6. Economy:

As a fast developing city and a major industrial and commercial hub in Africa, Nnewi experiences hectic financial activities, therefore major banks and other financial institutions are located there. Industries are dotted around the city and adjoining towns. Palm oil, cosmetics, motor, and motorcycle spare parts, books, and stationery, textiles, electric cables, and so on are produced in commercial quantity in the area. Its main trading centres include Nkwo Nnewi market (the largest spare parts market in west Africa) and Nwafor market, Eke Amaobi market, Eke Ochie, Eke Ichi Market, Orie otube Market, etc.

7. Home to a good number of Industries:

Nnewi is home to many major indigenous manufacturing industries including Ibeto Group of Companies, Cutix and ADswitch, Uru Industries Ltd, Omata Holdings Ltd, Cento Group of Companies, Coscharis of Companies Group, Innoson Group of Companies, Ebunso Nig. Ltd, John White Industries, Ejiamatu Group of Companies, Chicason Group, Louis Carter Group, etc. The great majority of industrialists in the cluster of spare parts factories in Nnewi are also traders, and most of these traders are producing one or more of the products they specialize in marketing as traders (usually motor vehicle parts), and most began by distributing their products through their preexisting distribution networks.

8. Affordable Cost of Living:

The cost of living in Nnewi is not at all on the high side. Foodstuffs from the local markets are relatively cheap; same with the general cost of living involving house rents, school fees, healthcare and transportation.

9. Unusual Taste for Mansions:

Residents, especially indigenes of Nnewi are known for their high taste of residential mansions. An average man in Nnewi is likely to be a house owner. Hence, the rich amongst them have high tastes when designing their houses. There is a general belief in Nnewi that every man should build his own house; especially a big one to be regarded as successful!

10. Powerful Traditional Institution:

Nnewi is governed by a traditional monarch called “Igwe” in the Igbo language. However, every community in Nnewi has an Obi who rules over the affairs. The Obi of Otolo is invariably the Igwe of all Obi and the holder of the “ofo” a traditional symbol of leadership.

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