Innocent Chukwuma, Chief Executive Officer of Innoson Vehicle Manufacturing Plc, (IVM), has expressed optimism that things will work well again in Nigeria under the democratic government.
Chukwuma, whose birthday coincides with Nigeria’s Independence, described the attainment of democratic rule in Nigeria, as a good reason to celebrate the country’s 66th independence anniversary.
Chukwuma, who spoke to BussinessDay on Thursday in his country home in Nnewi, Anambra State, said that local manufacturers produce quality products and needed encouragement from the government to succeed.
Reeling out his life journey, Chukwuma said: ‘in the late 1970s, a young boy named Innocent Chukwuma walked into a medicine shop in Nnewi, Anambra State. He had big dreams of studying engineering at the University, but when his exam results didn’t quite make the cut-off mark, he decided to bide his time helping his elder brother sell pharmaceuticals.
‘While sorting pills and ointment jars, he noticed something curious about himself: he had a sharp eye for numbers, inventory, and human interaction. He didn’t end up going back to school.
‘Instead, he pivoted to what fascinated him most-trade.
He served a brief apprenticeship under a major motorcycle spare parts dealer at the bustling Nkwo Nnewi market. Gifted a modest sum of 3,000 Naira by his brother to trade under their joint business, Gabros International, Innocent went to work. By 1981, he branched out independently with his own company: Innoson.
According to him, the disruption that changed everything was in the 1980s and 1990s, motorcycles were the backbone of Nigerian urban transit, but brand-new Japanese bikes (like Honda and Suzuki) were cripplingly expensive, pushing most Nigerians toward second-hand imports (tokunbo).
‘I traveled to Asia to investigate why foreign-used motorcycles were still so costly and realized that overseas suppliers shipped assembled bikes in massive shipping crates-a single 40-foot container could fit only about 36 complete motorcycles. That was when my engineering mindset kicked in,’ he said.
By importing motorcycles completely knocked down (CKD) and assembling them locally in Nnewi, he could squeeze nearly 200 disassembled motorcycles into that exact same container. His shipping costs plummeted.
He passed those savings directly to the everyday Nigerian. Practically overnight, Innoson crashed the price of a brand-new motorcycle from around ?150,000 down to ?60,000. He drove the tokunbo motorcycle market right out of Nigeria, replacing old junkers with shiny, brand-new rides for millions of riders.
Turning Plastic into Steel, he noticed another detail during motorcycle assembly: many non-essential components-like mudguards, light casings, and side mirrors-were made of plastic.
Instead of paying to ship heavy plastic pieces from overseas, he thought, Why not manufacture them right here in Nigeria?
He set up Innoson Technical and Industrial Limited in Enugu. Today, it has grown into one of the largest plastic manufacturing plants in West Africa.
By the mid-2000s, people told him he had reached the ceiling. ‘You can build plastics and put together motorcycles,’ they said, ‘but you cannot build cars in Africa. The infrastructure isn’t there.’
Innocent didn’t argue; he built.
In 2007, he formally established Innoson Vehicle Manufacturing (IVM) in Nnewi. By 2009, the factory floor roared to life, rolling out the very first fully indigenous, made-in-Nigeria automobiles-from rugged pickup trucks and city transit buses to luxury sedans.
When skeptics doubted whether African-built cars could handle the local terrain, IVM vehicles were subjected to Nigeria’s toughest roads, police patrols, and military operations-and passed with flying colors. When fuel prices surged, IVM became one of the first factories in the country to roll out Compressed Natural Gas (CNG) buses on a massive scale.
Today, Innocent Chukwuma, sits at the helm of an industrial giant. The young boy, who missed his University cutoff ended up founding a multi-billion-naira industrial empire, employing thousands of Nigerians and proving that African engineering isn’t just a future dream-it is a present reality.
He, however, noted that manufacturers are tackling the challenge of lack of public power supply by investing in alternative means of power.
According to him, the major challenge confronting local manufacturers in Nigeria hinges on inconsistent economic policies and programmes.
Chukwuma faulted the Federal Government waiver on the importation of CNG Cars and electric vehicles, saying it was not in the interest of local industries as it would discourage many Nigerians from venturing into the local manufacturing of such vehicles.
The industrialist called on the government to improve workers’ welfare, noting that the current minimum wage could no longer meet the economic realities on ground.
Chukwuma urged Nigerians to be patient with the President Bola Tinubu-led administration, pointing out that many programmes and policies of the government would, in the long run, address numerous challenges confronting the nation.
Chukwuma, while calling on Nigerians to support the present administration also commended Governor Chukwuma Soludo of Anambra State for the infrastructural developments especially roads achieved so far in the state.
As Chukwuma celebrates his 66th birthday anniversary, Michael Nnaemeka Ugboma, his family lawyer and the Chairman Board of Directors of Estate Group of Companies Limited ,wished him ‘A Happy Birthday Dad’.
‘We extend our warmest congratulations and heartfelt best wishes to you on the occasion of your birthday.
You remain a trailblazer, a visionary industrialist, and a true pillar of Nigerian innovation. Your relentless commitment to local manufacturing, national development, and economic empowerment, through the Innoson Group continues to inspire us and millions across the nation,’ Ugboma stressed.