President Bola Ahmed Tinubu GCFR welcomed the Chairman and CEO of Innoson Vehicle Manufacturing Company Ltd (IVM), Chief Dr. Innocent Chukwuma CON, at the State House, Presidential Villa, FCT, Abuja, on Thursday, August 8, 2024. During the meeting, President Tinubu emphasized his administration’s commitment to promoting Compressed Natural Gas (CNG) vehicles and the auto industry to drive economic growth.
In his remarks, President Tinubu lauded the efforts of Innoson Vehicle Manufacturing in advancing Nigeria’s automotive sector. He highlighted the importance of CNG vehicles as a sustainable alternative to traditional fossil fuels, aligning with global trends towards greener and more efficient transportation solutions.
“The future of our automotive industry lies in innovation and sustainability,” President Tinubu stated. “IVM has demonstrated remarkable leadership in this area, and we are eager to support initiatives that will enhance our economic prospects and reduce our carbon footprint.”
Chief Dr. Innocent Chukwuma expressed his gratitude for the government’s support and shared insights into IVM’s ongoing projects, particularly in the development and production of CNG vehicles. He noted that the company is poised to contribute significantly to the nation’s economy by creating jobs, fostering technological advancements, and reducing reliance on imported vehicles.
“Our vision is to make Nigeria a hub for automotive manufacturing in Africa,” Chukwuma said. “With the government’s backing, we can accelerate our efforts to introduce more CNG vehicles, which are not only cost-effective but also environmentally friendly.”
The discussion also touched on potential collaborations between IVM and the government to enhance the local supply chain, invest in research and development, and improve infrastructure to support the growth of the auto industry.
President Tinubu assured Dr. Chukwuma of his administration’s unwavering support and encouraged other local manufacturers to emulate IVM’s innovative approach. He reiterated his belief that a thriving auto industry could significantly boost the country’s GDP and position Nigeria as a leader in automotive manufacturing on the continent.
The meeting concluded with both parties expressing optimism about the future of Nigeria’s automotive sector and a shared commitment to pursuing strategies that will benefit the economy and the environment.