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How Innoson Vehicle Export Will Help To Strengthen The Naira Against Dollar

The Chairman of Innoson Vehicle Manufacturing (IVM), Chief Innocent Ifediaso Chukwuma, has revealed his plans to export his range of cars across Africa and beyond, which will help reduce pressure on the country’s foreign exchange (forex) demand.

Ifediaso revealed how the plan will enable him have access to more forex, which will in return enable him expand IVM footprints to Africa and beyond.

The IVM boss further explained how his move into other African countries will assist the Nigerian forex market.

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He noted that vehicles produced at the IVM plant could match those produced anywhere in the world.

He added that his brand of vehicles are produced to the highest standards and are fit for Nigerian roads.

The IVM boss revealed his range of vehicles, which included SUVs, wagons, commuter buses, have become a household name in the automobile industry.

He added that unlike other automobile assembly Plants, Innoson is a vehicle manufacturing plant.

“I need to correct one impression. While a lot of automobile companies in the country are assembly plants, ours is a manufacturing plant. We source most of our components locally. And that is the edge we have over others. If I see a local company that will add value to what we are doing through production of components, I will patronise them”.

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He lauded the contribution of former Governor Peter Obi, who he said his contribution to IVM leaped the business to growth.

The IVM Chairman disclosed that Obi, when he held sway, placed orders for 500 SUVs, 700 buses and 500 pick up vans.

He maintained that Governor Willie Obiano equally continued along the same trajectory.

Innoson disclosed that the intervention of Obiano in the area of power supply to industries has helped to support businesses.

FG and Some States Government Has Been Supportive of IVM – Dr Innocent Chukwuma

He noted that the governor ensured that industrial clusters are connected to a dedicated line on the national grid in order to address the issue of epileptic power supply which is capable of crippling businesses.


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