An unidentified businessman was gunned down outside his home in Egio at dawn on Friday.

According to an eye-witness, who alerted police, a gunman wearing a hood was waiting for the businessman outside the latter's home, opened fire on him when the victim emerged from the house, and fled.

The businessman was pronounced dead on arrival at the hospital he was rushed to.

According to initial information the businessman was riddled with more than five bullets.

Egio security police are investigating the homicide, and have launched a manhunt for the perpetrator.