Innoson Motors CEO Plans Relocation to Ghana Over Low Patronage in Nigeria
Chief Innocent Ifediaso Chukwuma, Founder and CEO of Innoson Vehicle Manufacturing (IVM), has disclosed plans to relocate the company’s operations from Nigeria to Ghana, citing poor local patronage and lack of appreciation for indigenous products.
According to sources familiar with the development, the industrialist made this known during a recent private meeting with officials of the Ghanaian government.
He reportedly expressed frustration over what he described as the persistent preference for imported vehicles by both government institutions and Nigerians, despite the availability of locally manufactured alternatives.
Chukwuma is said to have highlighted that the lack of support for homegrown industries continues to hinder the growth of Nigeria’s manufacturing sector.
He noted that while IVM has invested heavily in local production, the expected level of patronage and encouragement has not been realized.
The proposed relocation, if finalized, could have significant implications for Nigeria’s automotive industry, as Innoson Vehicle Manufacturing remains one of the country’s leading indigenous car manufacturers, with operations centered in Anambra State.
As of the time of filing this report, there has been no official confirmation from the Nigerian government regarding the development, while details of the discussions with Ghanaian authorities remain undisclosed.
