Innoson confirms plans to list on the NGX, urges industrialists to invest in Nigeria’s auto industry

• The government's argumentation is acceptable to catapult Nigeria into becoming an automobile manufacturing hub successful Africa
• The laminitis of the archetypal made-in-Africa automobile, Innoson Motors, has confirmed that investors astir the satellite are reaching retired to collaborate
• He besides urged industrialists to marque a determination into the sector, and spoke astir plans to instrumentality the institution public

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

Chief Innocent Chukwuma, the laminitis of Innoson Vehicle Manufacturing (IVM), has called connected the authorities to enactment Nigeria’s automobile industry with favourable policies.

He declared that Nigeria is acceptable to go the fig 1 automotive manufacturing hub successful Africa, and policies that enactment section accumulation of cars implicit importation tin assistance execute this.

Chukwuma urged industrialists successful Nigeria to put successful the increasing automobile manufacturing assemblage and harness the galore benefits to Nigerians.

Innoson is 97% acceptable to go listed connected the NGX. Photo credit: IVM
Source: Getty Images

Chukwuma pointed retired that government-friendly policies service arsenic an indicator to the investing assemblage to inject much funds, portion the reverse discourages further investments.

Innoson confirms plans to database connected the NGX

Chief Chukwuma disclosed that Innoson Vehicle Manufacturing (IVM) is 97% acceptable to spell public.

IVM is the archetypal made-in-Africa automobile marque and has been successful cognition since 2007 successful Anambra State, Nigeria.

The institution prides itself connected producing durable, affordable caller automobiles for Africans, and determination person been speculations astir listing the institution connected the Nigerian Exchange (NGX).

The connection from the institution laminitis and chairman, Chief Innocent Chukwuma portion speaking connected Channels Television news, confirms this move.

Chief Chukwuma said;

“I americium 97% successful the doorway of going public. We are 97% done. You know, it’s not thing you conscionable locomotion successful and do; there’s a process. Our process now, we are 97 per cent astatine the decorativeness line.”

He explained that this determination would lend to nationalist improvement and self-reliance successful the automobile industry.

More automotive factories to travel to Nigeria

While speaking connected a tv programme, the Innoson laminitis commended President Bola Tinubu for the “Nigeria First” policy, noting that it would pull overseas investors to spouse with section manufacturers.

Chief Chukwuma revealed that imaginable partners were already reaching retired to Innoson to collaborate connected mounting up factories successful Nigeria, an denotation that capitalist assurance successful the assemblage was growing.

He explained that the influx of investors would bring successful much concern activities and constituent factories into the country, creating hundreds of thousands of jobs for Nigerians.

“Motor manufacturing is an manufacture of industries; it has truthful galore components. If you person galore factories that are doing motors here, I judge adjacent the motor mill volition beryllium here. Even so, galore items factories volition beryllium here; Nigeria volition determination forward.”

FG supports made-in-Nigeria products with Nigeria-first policy

The national authorities has confirmed plans to clamp down connected car importation and promote section production. Photo credit: Picture Alliance
Source: Getty Images

Recall that the Nigerian authorities precocious unveiled a argumentation to trim reliance connected imported goods and services.

The Nigeria-first argumentation volition prioritise section contented successful each authorities procurements and contracts, and marque it a modular signifier to take section products implicit imported options.

FG to fortify section automobile production

In related news, a large manufacture shakeup is astir to deed the automobile manufacture successful Nigeria arsenic the authorities has taken a basal to modulate car importation.

The Director General of the National Automotive Design and Development Council (NADDC) listed the strategies the authorities would usage to show the kinds of vehicles imported into the country.

Legit.ng reported that the authorities has a lineup of plans to promote the local accumulation and assembly of cars in Nigeria.

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Source: Legit.ng