During the early hours of 27th July, 2024), news spread that one of the most influential figures in the Nigerian business scene, Patrick Ifeanyi Ubah, the founder of Capital Oil and Gas is died.
Upon sending shock waves both abroad and home, the development went viral on social media, at the least stirring curiosity regarding the authenticity of its said cause.
Who is Ifeanyi Ubah
Patrick Ifeanyi Ubah was a Nigerian politician, entrepreneur and businessman. He served as a Senator representing Anambra South Senatorial District in the Nigerian senate until his death.
He was the CEO of Capital Oil (CCO), which he founded in 2001. Capital oil facilities and outlets are domiciled mostly in Southeast and Southwest of Nigeria with one of the largest Tank farm for petroleum products storage and distribution in Lagos.
Biography of Patrick Ifeanyi Ubah
Born on September 3, 1971. Ifeanyi was the first son of seven children to Mr. & Mrs. Alphonsus Ubah in Otolo, one of the four quarters of Nnewi in Anambra State, Nigeria. Due to the inability of his parents to cater for the educational and material needs of their children.
Ifeanyi dropped out of Premiere academy, Lugbe, Abuja to learn trade at a young age. He has attended several local and international business courses and seminars in leadership and business management.
His childhood
As a young boy, Ifeanyi played a great deal of football as a goalkeeper both at school and in his community. On one occasion, he sneaked away from the house to play football at the camp. His parents began to search for him at home. When they did not see him, his father headed to the coach’s house where he found him.
His father angrily asked him if he could not stay at home and help with the chores. At the time, football was not as profitable and fashionable as it is now. So his father angrily asked what he wanted to do with his life. He asked if Ifeanyi wanted to go to school, learn a trade or play football.
Young Ifeanyi told his father that he preferred business. He was disappointed and downcast. He asked him if he expected him to tell his colleagues that his son wants to become a street hawker. Ifeanyi assured his father that he would make him proud.
Turning point
Ifeanyi Ubah struggled hard. However, he left Nigeria at the age of 19 to DR Congo and fortune smiled at him. He became a millionaire and bought his first car. At 20, he became a dealer in liquid diamond at the Democratic Republic of Congo.
According to Ifeanyi Ubah, “I would go all the way to South Africa to sell my products. I made it so big that I started to charter an airplane. Along the way, I was heartbroken by the woman I wanted to marry, this made me angry and as God would have it, at 21, I met my wife and the same day I met her, I proposed to her. I told my parents that I wanted to get married.”
His parents tried to discourage him, saying that he was still very young and that marriage should not be his priority. So he explained to them the problems of being a rich single man and living in the DRC, with the associated dangers of loose women frolicking around him.
With his explanation, his parents had no choice but to respect his decision to get married, to avoid him being distracted. Marriage was the only option to help him concentrate and focus.
His Entrepreneurial Journey
Ifeanyi became an exporter of motor tyres and spare parts majorly in West Africa including Ghana, Sierra Leone, Liberia and DR Congo before he expanded his business ventures in some countries in Europe including Belgium and the United Kingdom.
How Ifeanyi Ubah Made His Money
In the 1990s, Ifeanyi Ubah embarked on his entrepreneurial journey, starting with the sale of tires and spare parts. Over time, he gradually expanded his business, and he stood as one of the prominent exporters of tires in Nigeria.
His products reached countries such as Ghana, Congo, and more Building on his accomplishments in the tire industry, Ifeanyi ventured into the oil and gas sector. He was involved in the oil and gas industry, contributing significantly to his wealth.
Some of his business ventures are:
1. Capital Oil and Gas
Capital Oil and Gas is a company that operates in the oil and gas industry. It is involved in various aspects of the oil and gas value chain, including importing, distributing, and marketing petroleum products.
In 2001, it was founded by Ifeanyi Ubah. The company has a significant presence in Nigeria and is known for its activities in the downstream sector of the oil industry.
It has played a role in ensuring the availability and distribution of petroleum products in the country. Ifeanyi Ubah was the company’s CEO before his death on 27th July 2024 and he played a crucial role in its success and growth. According to Forbes, the company’s estimated worth exceeds $168 million.
2. Chevron Oronite & Chemical Company Ltd in South Africa
Chevron Oronite & Chemical Company Ltd is a company based in South Africa. It is a subsidiary of Chevron Corporation, a multinational energy corporation. Chevron Oronite specializes in producing and distributing additives for lubricants and fuels. These additives are designed to enhance the performance and efficiency of various automotive and industrial applications.
The company supplies its products to customers in South Africa and other regions. It is involved in the research, development, and manufacturing of specialized chemicals that help improve the quality and performance of lubricants and fuels.
3. Authority Newspaper
The Authority Newspaper is a prominent Nigerian daily newspaper. Ifeanyi Ubah, a successful entrepreneur and businessman, ventured into the media industry and launched The Authority Newspaper as a news and information dissemination platform.
The Authority Newspaper aims to provide reliable and up-to-date news coverage on various topics, including politics, business, sports, entertainment, and more. As a daily newspaper, it publishes new editions regularly, informing readers about current events and developments in Nigeria and beyond.
4. Ifeanyi Ubah F.C.
Ifeanyi Ubah F.C., formerly known as Gabros International Football Club, is a Nigerian professional football club based in Nnewi, Anambra State. It was founded and owned by Ifeanyi Ubah, the Nigerian business mogul. The club competes in the Nigerian Premier Football League (NPFL), the top-tier football league in Nigeria.
Some of his other business investments are:
- American Hospital Ltd
- Capital Group Congo S.a.r.l in the DR Congo
- Commodity Giants Nigeria Ltd
- Hero Communications Ltd
- Knoll & Hachfer Engineering Company Ltd
- Oil Force Nigeria Ltd
Political Career
During the 2014 Anambra gubernatorial election, Ifeanyi Ubah contested under the Labour Party but was unsuccessful. However, on February 24, 2019, Ifeanyi Ubah emerged as the winner of the Anambra South Senatorial elections, representing the Young Progressive Party (YPP) but defected to Nigeria’s ruling party the All Progressive Congress (APC).
In 2023, Ifeanyi Ubah, representing the Young Progressive Party, emerged as the victor in the senatorial election for the Anambra South District, according to the Independent National Electoral Commission (INEC).
The announcement was made by INEC Resident Returning Officer, Professor Ebele Nwokoye, in Nnewi. Ifeanyi Ubah secured a total of 73,115 votes, securing his position as the winner, while Chris Azubogu from the All Progressives Grand Alliance (APGA) followed closely behind with 45,369 votes.
Ifeanyi Ubah Family
He was married to Uchenna Ubah, an Executive Director at Capital Oil and Gas Industries Limited. Uchenna holds a Bachelor of Science (B.Sc) degree in business management and a Master’s in business administration (MBA) from Ahmadu Bello University. They have been blessed with five children.
Ifeanyi Ubah Net Worth
Ifeanyi Ubah net worth is not publicly disclosed, and estimates can vary. However, he was considered one of the wealthier individuals in Nigeria due to his extensive business ventures, particularly in the oil and gas sector, real estate, and sports. Some sources have estimated his net worth to be in the hundreds of millions of dollars. But these figures can fluctuate based on market conditions and other factors.
Cause of Death
The Senator was reported to have died in his hotel room in London at the age of 52 years as a result of cardiac arrest.
Ifeanyi Ubah Foundation
For the past 25 years, Ifeanyi Ubah Foundation has been at the forefront of transforming lives across various sectors of society through its philanthropic activities. From promoting sports development and providing scholarships to delivering medical interventions and empowering women, the foundation has served as a source of support for numerous individuals.
Driven by his “think home” mentality and a passionate desire to create job opportunities, empower youth, and foster development in his home state of Anambra, Dr. Ifeanyi Ubah embarked on a monumental project. The construction of a multibillion naira games and industrial village is a testament to his dedication.
This impressive complex boasts an array of facilities, including two football stadiums with multiple training pitches, an industrial park, a hospital, a sports academy, a technology hub, a 5-star hotel, a conference center, a center for women and youth development, an indoor sports hall, shopping malls, residential estates, a corporate office complex, a linguistic school, a police post, a fire service station, and other essential amenities.
Mourning a Loss, Celebrating a Legacy
Ifeany Ubah was a man who derieved joy in seeing others happy. There was hardly any day of his life that he didn’t attend to people, ranging from his employees, to business partners, and aides among others. The fact that he was a solution to someone’s problem gladdened his heart.
The grace of touching lives gave him extra joy. Ifeanyi Ubah was a man who understood the ills of our society, as people tend to misuse opportunities. Thus he worked with the best brains, with people who had something to offer and not just people who wanted to live off him.
He lived the life of giving. It is a pity that in the world we live in today, people don’t understand what it means to take on a challenge but Ifeanyi Ubah did.
In the wake of Ifeanyi Ubah’s untimely demise, the world reflects on the profound loss suffered by the oil and gas industry, football world, and beyond.
His legacy, built on a foundation of hard work and dedication, will endure as a guiding light for aspiring leaders and entrepreneurs. As we mourn his passing, Today Africa also honor the indelible mark he left on the world, a testament to a life lived with purpose and passion.
Frequently Asked Questions
What is the net worth of Ifeanyi?
Ifeanyi Ubah, a Nigerian businessman and politician, was well-known for his tremendous success and wealth. He was regarded as one of the richest politicians in Nigeria. Ifeanyi Ubah is a billionaire whose net worth was not made public.
Who is the owner of Ifeanyi Ubah F.C.?
The owner of Ifeanyi Ubah F.C. is Ifeanyi Ubah himself. Ifeanyi Ubah, the Nigerian business mogul, owns the football club.
How old is Ifeanyi Uba?
Ifeanyi Ubah was born on September 3, 1971. Based on that information, he died at the age of 52 years.
Which party does Ifeanyi Ubah belong to?
Ifeanyi Ubah ran for governor in Anambra in 2014 but didn’t win with the Labour Party. However, in February 2019, he won the Anambra South Senatorial election with the Young Progressive Party (YPP) but defected to Nigeria’s ruling party the All Progressive Congress (APC).
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