Multi-billionaire, Kenneth Maduakor also known as Ken Maduakor has launched his KM Lubricant Factory recently and played host to the “big boys” in Anambra State who witnessed the epoch occasion, ENigeria Newspaper reports.
ENigeria Newspaper reports that billionaire Ken Maduakor is a renowned businessman, and frontline sales partner with Nigerian Breweries, philanthropist, and grassroots politician in Anambra State.
The founder of Ken Maduakor Group Limited from Nnewi in the Onitsha Business Region once clinched the National Champion Award as Nigerian Breweries’ best distributor for 2017. The Group had also won the award in 2016, making it the third consecutive year it would be named best distributor.
The businessman added another feather to his cap with the launch of another multi-billion naira investment into lubricant production, which saw the establishment of KM Lubricant factory recently.
KM Lubricant factory was officially launched on Tuesday, August 29, 2023, in the presence of other Anambra billionaires led by Senator Ifeanyi Ubah, Anambra State Commissioner for Trade & Industry Hon Christian Udechukwu, Chief Executive Officer of Dozzy Oil Chief Dan Chukwudozie, Chairman of Anambra, Enugu and Ebonyi States branch of the Manufacturers Association of Nigeria (MAN) Lady Ada Chukwudozie and Gabros Group boss Chief Gabriel Chukwuma, among others.
During the epoch event, Senator Ifeanyi Ubah, reiterated the need for investment in the manufacturing sector in order to boost economic growth and create employment opportunities. He highlighted the importance of supporting local entrepreneurs and industries, as they play a crucial role in driving economic development.
Ubah also emphasized the significance of collaboration and partnership between the government, private sector, and other stakeholders in order to create an enabling environment for businesses to thrive. This includes providing necessary infrastructure, access to finance, and favourable policies that promote business growth and sustainability.
Furthermore, Senator Ubah commended Chief Kenneth Maduakor for his vision and determination in establishing the lubrication factory, which will not only contribute to the local economy but also reduce the country’s dependence on imported lubricants.
“This is a step towards achieving self-sufficiency and promoting local production. I also urge other entrepreneurs and investors to take advantage of the opportunities available in the manufacturing sector and contribute to the economic development of our nation. By supporting local industries, we can create a prosperous and sustainable future for all”, Senator Ubah concluded.
