Nigeria’s importation has immensely impacted the country’s economic growth and thus, numerous economic experts have pointed the need for an effective export market. There has been the clamor for a significant improvement of our exportation phenomenon as a major source of economic development. Also, experts have noted the need to diversify, in a bid to boost the economy. The focus on exporting crude oil has not improved the economic status quo as a result of the unstable prices in the global crude oil market.
With numerous private organizations working to contribute to Nigeria’s export market, the economy has shown promising signs of overt progress. Innoson Vehicles Manufacturing Ltd., IVM, one of Nigeria’s leading manufacturers of automotive industry have recently joined in the efforts to further improve the country’s economic competitiveness by exporting its products. As such, Innoson is reported to have delivered the first set of vehicles ordered by the Government of Sierra Leone.
Sierra Leone government lauded for supporting African businesses.
This first set of vehicles which was designed to suite the demands of the country’s Ministry of Defense reportedly arrived in Sierra Leone’s Capital on November 21st, 2022. The Group’s Head of Corporate Communications, Cornel Osigwe in a statement, noted that these vehicles were designed on the request of Julius Maado Bio, the president of Sierra Leone. Osigwe also stated that Sierra Leone’s President placed an order worth about N2.01 billion for the Armed Forces department of Sierra Leone.
With the advent of Innoson Vehicles’ operations in Sierra Leone, the country has become the first West African country to use Innoson Vehicles’ products outside Nigeria. Reports however indicated that the people of Sierra Leone were joyous as regards the advent of IVM’s operation in their country. Also, numerous commendations were heaped on Sierra Leone’s president for its support of African businesses by equipping the country’s military and by choosing African manufacturers.
Success of IVM, poignant to other automobile startups in Nigeria.
The Nigerian Army, around four years ago, signed a partnership agreement with the Nweni-based automobile company in a bid to develop purpose-built vehicles for the armed forces. This pact also included the identification of the required product production of the armored vehicles in the Nigerian Army Central Workshop, which is located in Kaduna, as well as enhancing the abilities of the Nigerian Army personnel to further engage in the active implementation of this joint venture.
Additionally, the overall success of Innoson Vehicle Manufacturing Ltd. has led to the startups of other automobile companies in Nigeria. Recent reports indicated that another vehicle manufacturing firm had commenced operations on the production of vehicles, also in Enugu state. This development is posed to enact the technological development that the country needs, as well as significantly help the country improve its economic situation by increasing the exportation competitiveness in the country’s automobile sector.
Enugu’s Government lauded Ingrace Motors for its ingenuity.
This newly established vehicle company, known as Ingrace Motors was lauded by the Enugu state government for its innovative ability to produce vehicles with ingenious designs in the country, and further ensuring the creation of job opportunities in the state and country generally. Chinedu Onu, the Chief Executive Officer of Ingrace also did a public display of its manufactured vehicles, donating one of its vehicles to the Enugu State Government so as to gauge the strength and quality of the vehicle.
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