Chief Uba Obasi readily mastered the secrets of business under his hard working and shrewd trade master, Ete Nkungwu. By 1947, Chief Uba Obasi, at the age of 20 years, still living and serving as an apprentice under his trade master, was already a landlord of a 14 rooms-building at Diobu, Port-Harcourt.
That same year, his beloved mother, late Princess Effiem Ekeagbara Obasi (Nee Udeagha Nwaekiri) passed on, and he saw to it that she was given a befitting burial. To console themselves, Chief Uba Obasi and his brother, Chief Ina Obasi, adopted the song “Courage brother! Do not stumble”. This song is now one of the family songs.
As Chief Uba Obasi evolved in his business world, he developed a joint business venture with his friend Sir Felix Maduka. They imported Khaki drill, plates and stockfish. Their business partnership flourished but was disrupted by the Nigerian civil war (1966 – 1970). They remained friends to the end.
During the Nigerian civil war the Obasi Brothers family moved to Ife-Na-Owutu in Mbaise, hosted by Dr. Bethel Njoku’s family. There, the Obasi Brothers continued business, dealing in tobacco, rice, tinned fish and egg yolk imported from Gabon and Cameroun. After the civil war the Obasi Brothers family gradually settled at Aba. There, the two brothers formed “THE OBASI BROTHERS MECHANT COMPANY” by which they are best known today. They tried their hand in all sorts of legitimate businesses, and finally settled with importing cement and other building materials. This was meant to take advantage of the opportunities that emerged in the post-war building and reconstruction sector. They deployed their boys at Port-Harcourt wharf during the discharge of cement.
Today the Obasi Brothers business interests spans various aspects of Nigerian economy, from consumer products merchandising, manufacturing, oil and gas contract services and estate developments.
Chief Uba Obasi was the chairman of Effiem Estate Development Company whose primary purpose is in property investments and real estate development activities.
Chief Uba Obasi was a co-founder and director of Noli International Shipping Line a subsidiary of Med Africa Shipping Line with Italian partners, Mr. Perucchi and Mr. Volpi. The shipping line was used immensely along the West African Coast mainly by Abiriba and Eastern Nigerian businessmen during the trading boom of the 1970s and 1980s.
At the dissolution of Med African Shipping Line in 1982, Chief Uba Obasi registered Alcon Nigeria Limited in 1983 and became the chairman, with partners Mr. Primo Bianchi and Mr. Gianfranco Falcioni. Alcon Nigeria Limited with its primary focus in the oil and gas industry contract services has become a successful major player in civil construction in Nigerian oil and gas sector.
Chief Uba Obasi was a junior partner with Mr. Habib a childhood friend, in the formation of Weco Engineering Company, whose primary focus is in Electrical and Instrumentation field services in oil and gas industry operations.
In 1999, Chief Uba Obasi established Twinset Industries Limited with primary focus in consumer beverages (Quanta bottled water) after attending a Rotary International Convention where it was made known to him that “Eighty percent of the ill health in Africa is due to water borne diseases”.
Subsequently, Chief Uba E. Obasi was the chairman of Akutrop Offshore Nigeria Limited an indigenous EPIC company dedicated to engineering, procurement, installation, and construction to provide comprehensive “Nigerian Content” based business operations in pursuit of Nigerian Local Content resources and knowledge.
His business principles were simple and based on five TENETS:
1. Honesty
2. Humility
3. Hard work
4. Discipline
5. Capital
Chief Uba Obasi made it clear that the fifth point, capital, comes only after one has attained or applied the previous four principles. The Obasi Brothers, believed that “wealth should be built, the old fashioned way; it is to be created and earned, not stolen.”