Innoson confident Tinubu’s CNG initiative, other reforms will stabilise economy

Innoson confident Tinubu’s CNG initiative, other reforms will stabilise economy

Chairman/Chief Executive Officer of Innoson Vehicle Manufacturing Company Ltd (IVM), Chief (Dr) Innocent Ifediaso Chukwuma, CON, has expressed confidence that President Bola Tinubu’s Compressed Natural Gas (CNG) Initiative will be a success and bring succour to the Nigerian people.

According to him, the CNG has many advantages over the current reliance of fossil fuels, adding that the initiative along with other intervention programmes of the current administration would stabilise and strengthen the nation’s economy.

Chief Chukwuma therefore pleaded with Nigerians to be patient and wait for the government’s initiatives to start yielding dividends.

The Innoson founder spoke shortly after a closed-door meeting with the President Tinubu at the Presidential Villa in Abuja, on Thursday, August 8.

He believes the number one citizen would make the country better than he met it.

Chief among the advantages of CNG-powered vehicles, according Chukwuma, is comparatively cheaper price which will considerably drive down transportation costs.

He said, “The government’s initiative on CNG is the best idea for this country because there are a lot of benefits, and it is those benefits I saw before I started the factory to produce vehicles on CNG.”

Chukwuma also said that very soon, Nigerians would be seeing Innoson buses on the road in various parts of the country following the “fruitful discussions” with President Tinubu.

He said, “People must be patient. I know how this President behaves. Whatever we want, we will see the better side of Nigeria through his initiatives. I plead with everybody to calm down for him, because we will see a better Nigeria from Tinubu.

“So, let Nigerians give him a chance, because I believe that everything will be okay.

“The way I see him, he wants the best for this country. So, I am encouraging everyone to be patient and not destroy public infrastructure. There’s no benefit in destroying our things.”

He also expressed optimism that the meeting with the President would result in the patronage of IVM CNG vehicles by the Federal Government.

“Yes, government is doing its best with Innoson vehicles,” he confirmed. “In a short while, everywhere you go you will see Innoson Motors.”

He spoke on Innoson’s pathfinder role in the production of CNG vehicles in Nigeria, saying, “I started CNG about two years ago. I was the first to start it in Nigeria.

“My visit here today is on the CNG vehicle issues. I have discussed with him. And in a short time, the masses will start seeing CNG buses on the road.”

President Tinubu who received the Innoson founder in the presence of the Minister of Finance and Coordinating Minister of the Economy, Chief Wale Edu, was said to have commended Chief Chukwuma and his Nnewi auto plant for their great achievements since the factory was commissioned in 2010 as Nigeria’s first indigenous auto manufacturer.

The President reportedly informed Chief Chukwuma that he had been getting very positive and commendable reports about his auto company, especially the wide range of quality vehicles it had been producing for Nigeria.

However, auto industry analysts the Chief Chukwuma’s visit to Aso Rock to heal the wound of the ‘injustice’ done to Innoson Vehicles by the Presidential CNG Initiative (PCNG-I) implementation committee recently.

It can be recalled that only a few months ago, despite being the first CNG vehicles manufacturer in Nigeria, the PCNG-I committee ironically shunned the Nnewi plant – the pioneer autogas vehicles manufacturer – in the award of multi-billion naira contracts for the production of thousands of ‘palliative’ buses following the removal of fuel subsidy.

In 2021, Innoson became the first auto maker in Nigeria to commence the manufacture of CNG vehicles in Nigeria with hybrid (CNG/diesel) long buses produced for some customers in the oil and gas sector.

A batch of IVM city buses was officially rolled out in April, 2022 at the company’s factory in Nnewi, Anambra State.

Manufacturers Association of Nigeria (MAN) led by its president, Otunba Francis Meshioye, and the Director General, Segun Ajayi-Kadiri, attended the event.