Innoson To UNN Students; l’m Not A Graduate But I Still Made It (Photos)

Innoson To UNN Students; l’m Not A Graduate But I Still Made It (Photos)

Today, Chairman of Innoson Group, Chief Dr. Innocent Chukwuma OFR received a thunderous ovation from thousands of University Students as he shared the story of Innoson.

In his lecture to the Students’ of University of Nigeria Nsukka at their Entrepreneurship Day, organized by Center For Entrepreneurship and Development Research, University of Nigeria Nsukka, Innoson told the students that irrespective of the fact that he didn’t have the opportunity to go to University, through his dint of hard work built on the foundation of honesty, he persevered and established a great business empire.

Innoson shared to the students what inspired his attitude to honesty. He said “One day, probably when I was aged between 6-7 years, I always go out to play with my friends outside the house, my father who I feared so much had warned me initially not to ever leave the compound for anything, unless he is around. Of course, knowing fully well that my father will never permit me to play outside with my friends, i always find a way to escape outside, play and return back. One faithful day, I sneaked out again to play with my friends, when my father later came to look for me, he didn’t see me. He knew I went out without informing him, so he set a trap in our compound gate that will make him know when I return. Of course, I fell into the trap without knowing.

When my father later came to my room to look for me and saw me, he asked why I went out without informing him as instructed. I denied it immediately; he told me not to lie or ever lie to him and asked me again. I denied it and even swore that I was in the compound. My lie got my father angry and he beat me that day mercilessly as if I wasn’t his son. The entire plea from my mother to him to forgive me fell on deaf ears. My father asked me to sleep outside the house that night. In the morning, he sent for me and consoled me. He made me understand the consequences of lying, he told me to always say the truth in every circumstances no matter whose ox is gored. That particular incident made a turning point in my life and I vowed within myself that no matter what, I will always say the truth and always be honest”.

Speaking on how he grew Innoson Nigeria Ltd into an industrial giant, Innoson said, “our Company IVM Innoson Group started as a single company in 1981 by trading on tyres, motorcycle, motorcycle parts and accessories. We made huge success of the business that by the turn of the 90s, our products had become a well-known brand and in high demand, both in Nigeria and the sub-region of West Africa.

At that period, there were only five (5) known motorcycle brands in Nigeria, which were; Leventis: Known for the Honda brand; Boulos: known for the Suzuki brand; Yamaco: known for Yamaha brand; CFAO- known for the Kawasaki and Mobylette brand and Innoson: known for Jianshe and Innoson brand,
of all these major brands, Innoson Nigeria Ltd controlled the largest market share because we succeeded in bringing down the price of a brand new motorcycles from N150,000 to N60,000. We were able to do this by being the first indigenous company to start the local assembling of motorcycles.

Stating further on what made him to venture into Local motorcycle Assembling?, “Based on my experience as a major motorcycle and spare parts dealer, I studied the major reasons why motorycles were expensive, and I discovered that a 40ft container with a complete knock down (CKD) of motorcycles parts will contain more motorcycles than a container with completely assembled motorcycles.

For example, a 40ft container with completely assembled motorcycle can only contain between 36-40 units, while the same 40ft container with the complete knock down (CKD) can contain between 220-230 units of motorcycle.

Based on this analysis, we started bringing the complete knock down (CKD) of motorcycles in the container and started assembling them in Nnewi, thereby reducing gradually the prices of motorcycle from N150,000 to N80,000.

Hence we became the first indigenous company to fully assemble a motorcycle in Nigeria and subsequently started producing some of its motorcycle parts in our factory.

READ ALSO: VC UNIZIK And University Council Pays Courtesy Call To Innoson (Photos)

How Do We Start Producing Some Motorcycle Components? During the period of our motorcycle assembling, I found out that most of the motorcycle parts and components are plastic, I therefore set up Innoson Technical and Industrial Company Limited located at Emene Enugu to start producing all the plastic components and parts of our motorcycles.

I also established General Tyres which was was producing tyres for our motorcycles using Nigerian rubber.

By this singular effort of producing the components, we further reduced the price of motorcycle from N80,000- N60,000. We did not just stop at producing only motorcycle components, we also ventured into the production of some motor components.

It was based on our experience in the production of some of the motor components that I ventured into vehicle manufacturing now known today as Innoson Vehicle manufacturing (IVM) Company Ltd located in Nnewi, Anambra State.

What we do today at IVM is to manufacture the full body of a vehicle, and then we buy engine, gear-box and the electrical components to put in these vehicles. The plastic components of our vehicles are produced at our Plastic factory. That is why we can comfortably call our vehicles Innoson. By the Grace of God, we are the only vehicle manufacturing company in Nigeria today. We have a full production plant that can produce different ranges of vehicles”.