For being the first automaker in Nigeria to commence the manufacture of vehicles that run on Compressed Natural Gas (CNG), the founder and Chairman of Innoson Group of Companies, owners of Innoson Vehicle Manufacturing Company Ltd (IVM), Nnewi, Chief Innocent Ifediaso Chukwuma has been honoured with the Manufacturer of the Year Award at Silverbird Man of the Year Awards 2023 held at Eko Hotel & Suites, Victoria Island, Lagos.
The organiser of the award, Silverbird Group, said they took into consideration the fact that Innoson Vehicle Manufacturing Company Ltd, commenced the manufacture of sundry CNG-powered buses and other vehicles two years ahead of the removal of fuel subsidy by the government on May 29, 2023.
The Group noted that the foresight, as well as the ability to assess and take risks exhibited by the IVM management in venturing into the production of CNG vehicles, was commendable.
The award was presented to Chief Chukwuma, who was represented by Obum Osigwe, General Manager, Sales & Marketing, Innoson Vehicle Manufacturing Co. Ltd, Nnewi, at the colourful ceremony held in Lagos on March 3, 2024.
Receiving the award, Osigwe said, “I wholeheartedly, on behalf of my boss and Chairman, Chief Dr Innocent Ifediaso Chukwuma CON, accept this prestigious award for the manufacturer of the year. We are grateful for this honour and we will keep doing our best for our dear nation Nigeria.
“I would like to thank the Chairman, Management and Staff of Silverbird Group for this honour. This award will spur us more at Innoson Vehicles to do more and increase our effort in making vehicles Nigeria and the world will be proud of.
“Thank you for shedding light on the activities of manufacturers in Nigeria. We are immensely grateful because, without you, Nigerians won’t know our toils and travails in the manufacturing sector. Thank you so much and God bless our nation Nigeria.”
Chukwuma started the production of CNG vehicles about two years before subsidy on fuel was removed and CNG became the preferred and popular alternative to petrol and diesel.
As of May 29, 2023, when the Federal Government declared the removal of subsidy, Innoson had about 100 units of sundry CNG vehicles at its premises in Nnewi, Anambra State, in addition to those already delivered to customers in some parts of the country.
The automaker has embarked on the construction of a much bigger multi-billion naira IVM plant annexe, covering about 300 plots of land, in Nnewi, and is likely to be commissioned in the first quarter of 2024 to concentrate on manufacturing autogas vehicles.
What began with motorcycle spare parts retailing has four decades later grown into the leading proponent of made-in-Nigeria products and one of its biggest industrial success stories.
In 1995, Innoson Nigeria established a fully automated motorcycle assembly plant in Anambra State, becoming the first fully indigenous motorcycle maker in Nigeria. In the same year, the group launched Innoson Technical and Industrial Limited, the biggest Plastic manufacturing plant in Nigeria with over 150 product lines.
One of the high points of the Silverbird Awards was the display of two outstanding Innoson vehicles at the entrance to the venue: IVM Caris sedan, and IVM De Imperial pick-up, one of the newest additions to the fast-growing Innoson Vehicle line-up.
Meanwhile, key players in the nation’s business circle have called on Nigerians to support local businesses to boost the country’s economy.
Speaking at the award event, Chairman of Air Peace, Dr Allen Onyema, charged Nigerians to support local businesses to boost the country’s economy, stressing the importance of patronising and supporting local businesses as a means of accelerating the economic development of the country.
He said Nigerians have to “support their own” to thrive instead of engaging in activities that frustrate such businesses.
In the same vein, Senator Ben Murray Bruce, CEO, Silverbird Group, called on Nigerians to support local businesses as the country cannot develop its economy sustainably without patronising and growing local businesses.
The award given to Dr Chukwuma came two weeks after being bestowed with The Sun Award highest honour of Man of the Year, also for being the first automaker in Nigeria to commence the manufacture of a range of vehicles that run on Compressed Natural Gas (CNG).
About the Author
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
