Innoson Vehicle Manufacturing Company Ltd, Nigeria’s local vehicle manufacturing firm will achieve 100 percent local contents in the next five years with the local manufacturing of vehicle engine, according to the Chairman of the company, Chief Innocent Chukwuma.
The company currently operates at 60 percent local contents with the assembling of vehicle parts and the purchase of vehicle engines from foreign markets.
Speaking on Monday during a visit of the management team of the company to the Minister of Science and Technology, Dr. Ogbonnaya Onu in Abuja, the chairman said Innoson, being the first indigenous motor manufacturing company in Nigeria, was set to reduce drastically, the prices of vehicles and cut down the country`s dependence on imported vehicles.
While informing the minister that the beginning was tough and rough, as if the company would not achieve the feat, he requested that the government should help in the area of efficient power supply to power the over 100 industries that have made Nnewi, the Taiwan of Africa.
"Our major request is to help us accessing foreign exchange to enable us keep and maintain our over 7, 200 employees. We wish to also request for a government policy to ensure that homemade goods are protected and patronized by all levels of governments and agencies," he said.
The company currently operates at 60 percent local contents with the assembling of vehicle parts and the purchase of vehicle engines from foreign markets.
Speaking on Monday during a visit of the management team of the company to the Minister of Science and Technology, Dr. Ogbonnaya Onu in Abuja, the chairman said Innoson, being the first indigenous motor manufacturing company in Nigeria, was set to reduce drastically, the prices of vehicles and cut down the country`s dependence on imported vehicles.
While informing the minister that the beginning was tough and rough, as if the company would not achieve the feat, he requested that the government should help in the area of efficient power supply to power the over 100 industries that have made Nnewi, the Taiwan of Africa.
"Our major request is to help us accessing foreign exchange to enable us keep and maintain our over 7, 200 employees. We wish to also request for a government policy to ensure that homemade goods are protected and patronized by all levels of governments and agencies," he said.
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