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General News of Friday, 26 August 2022


FLASHBACK: How Peter Obi ordered 500 SUVs, 700 buses to boost my business - Chairman, Innoson Group

A collage of Peter Obi, Dr Innocent Chukwuma and an assembly plant A collage of Peter Obi, Dr Innocent Chukwuma and an assembly plant

The success and market penetration of Innoson Vehicles in the Southeast has been attributed to the presidential candidate of the Labour Party, Peter Obi.

Chairman of Innoson Vehicles Manufacturing (IVM) Limited, Dr Innocent Chukwuma said the former Anambra governor was key to inspiring him to manufacture SUVs and Pick-Up vans to support indigenous merchandise in his administration.

Chukwuma made this known in a chat with journalists in Nnewi, Anambra State, on Tuesday, November 18, 2021.

He disclosed that as Governor, “Mr Peter Obi placed orders for 500 SUVs, 700 buses and 500 pick-up vans and that helped us a lot because he does not owe, he even paid us in advance.”

“Even when there were several criticisms that the vehicles might not be durable, he squashed the thought and charged me to prove them wrong with the production.”

“Honestly, it was a breakthrough for me in the business, that piloted me to the vehicle manufacturing market as more kinds of vehicles have been manufactured thereafter.

While reacting to the situation of foreign exchange (forex) in the country, Chukwuma said his company is looking ahead to being a producer of vehicles for use in the African continent as a whole, a development he asserted would reduce pressure on the Stock Exchange Market.

He said he had expanded his scope of production to a wide range of vehicles which include the latest SUVs, wagons, commuter buses, among others.

“I need to correct one impression. While a lot of automobile companies in the country are assemblage 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 the production of components, I will patronize them.

“My plans for the next five years is to see IVM everywhere in Africa.”

Fielding a question on challenges mitigating the growth of his business, Chukwuma explained “Challenges can never stop; people will always have challenges day by day, but the most important thing is that each time it comes up, my people put heads together and we surmount it. I don’t think there is a challenge we will see and not surmount," Tribunengonline is quoted.

Our driving force is ideas; it is not about the volume of investments, if ideas are there, you can use small money to do big things.”


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