By Adewale Sanyaolu
To reduce pressure on the country’s foreign exchange demand, lnnoson Vehicle Manufacturing(IVM) Limited has announced plans to export its range of vehicles into countries in Africa and beyond.
Chairman, IVM, Mr. Innocent Chukwuma, stated this when an interaction with select media at his country home in Nnewi, Anambra State.
He said the move would enable him have access to more forex to enable him expand his business footprints into Africa and beyond.
He noted that rather than depend on Government for forex, his strategy to deepen his business footprint beyond Africa will further assist the foreign exchange market.
He noted that vehicles produced at the IVM plant could match any other produced anywhere in the world.
He added that his brand of vehicles are produced to the highest standards and are fit for Nigerian roads.
Chukwuma said 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 other others. If I see a local company that we add value to what we are doing through production of components, I will patronise them,”.
He lauded the contributiin 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.
Chukwuma disclosed that the intervention of Obiano in the area of power supply to industries has helped to support businesses.
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