[quote author=chosengocap post=63552788][/quote]
Doyin Okupe is on my handled, am so sure thats Nnamdi Kanu

This movie should be called "The return of the CHRONIC debtors "......These folks are credit unworthy and chronic debtors but like crying like victims.

obidevine:


Proforce doesn't manufacture. I'm giving you an informed view. I have people that work with Proforce and I'm up to date with what I'm saying

I believe my last message should be clear enough, the last interview i read via punch newspaper, Proforce manufacture light artelliary and couple heavy ones due to the non availability of ballistic steel locally. You can ask your friend about this

FreddyKruger:
When only one citizen from the 5% region is more innovative and versatile than a vegetable and his minions from the 95% parasitic region. More grease and grace to the works of your hands Chief Innocent Chukwuma. God bless Innoson Motors
#proudlyfivepercent

MEANWHILE.....NONE of you 5 percenters patronize your own Innovator. Who buys cars ASSEMBLED with screw drivers and spanners?when i saw the pics,i almost fainted. Innoson is an upgraded mechanic workshop!

Nigerian version of G-wagon

dafeyankee:
How jail bros?

who jailed him

Igbo celebrating a mediocre and a criminal! So he has been using Afonja money to couple vehicles. Little wonder Igbos want die for Lagos. Don't worry Afonja Gt bank will soon take over innoson is an hostile take over. You people will still have a lot to wail about. Go and ask Etisalat.

industrialist and Chairman of Innoson Nigeria Limited, may have succeeded playing the victim with his arrest, on Tuesday, by the Economic and Financial Crimes Commission (EFCC), but there are clear indications that he attempted to defraud Guaranty Trust Bank (GTBank) through forgery of documents. Mr. Chukwuma was released on bail on Thursday. Part of Mr. Chukwuma's success manifested in his arrest being promoted as an ethnically biased move as well as one to hamper a local industrialist. Social media platforms have continued to fizz with this narrative, with many users threatening to close their accounts with GTBank and urging others to do same.
GTBank, Chukwuma's supporters argued, is out to do Mr. Chukwuma and Innoson Motors in because of his ethnicity.
The saga dates back to 2009, when GTBank, with which Innoson Motors is a customer, granted the auto assembly company a series of credit facilities totaling N2.4 billion. The loans represented part-finance and working capital for the importation of new motorcycles, motorcycle spare parts, agricultural machinery spare parts and plastic manufacturing equipment.
Sources told SaharaReporters that under the loan terms agreed by Mr. Chukwuma on behalf of Innoson, proprietary interest in the imported items was exclusively consigned in favor of the GTBank.
This, in strict terms, means that the bank owned the imported goods. As such, the original shipping documents (Bills of Lading), exclusively obtained by SaharaReporters, sources further disclosed, were duly held by GTBank and remain in its possession.
On account of the bank's exclusive ownership of the goods, explained those knowledgeable about the transaction, only it can transfer ownership to Innoson or any other party.
A condition in the loan agreement for the release of the goods by the bank to Innoson was the payment of 25% of the value of each Letter of Credit transaction by the auto assembly company.
SaharaReporters learned the Mr. Chukwuma, on behalf of Innoson, approached GTBank requesting the release of the shipping documents without fulfilling the condition requiring him to pay payment the agreed 25% of the value of each letter of credit. On account Innoson's failure to meet the condition in the agreement, the bank turned down the request.
What followed stunned and riled the bank. It discovered in June 2011 that the shipping documents for goods it declined to release to Innoson because of its failure to meet the agreed conditions had fraudulently been obtained by Innoson.
SaharaReporters learned that Innoson, on the instruction of its Chairman, had forged GTBank’s endorsement on the Bills of Lading to the shipping line, fraudulently clearing the imported items, which consigned to the bank.
This means that being the property of the bank, the items should never have been cleared from the ports without the bank endorsing the original shipping documents in favor of Innoson or any third party.
What Innoson did, revealed sources, was to forge the signatures of Messrs Taofeek Olalere, Dan Attah, Bunmi Adeyemi and Amazu Amalachukwu, all GTBank staff, as well as the bank’s stamp on all the shipping documents to clear the goods at the ports. Insiders said the bank never endorsed or transferred the shipping documents to Innoson, as their original copies remain in the bank’s possession.
Displeased, the bank reported the matter to the Police, to which, insiders further said, Mr. Chukwuma told that the documents were released to him by the bank. The Nigerian Police launched an investigation into the bank’s complaint. This took in a forensic examination of the signatures on the documents and established that they were forged by Mr. Chùkwuma and his accomplices to fraudulently clear the goods the Nigerian Ports Authority (NPA).
Police sources said what they knew was that Innoson and Mr. Chukwuma deliberately designed a scheme to steal from the goods from the bank through forgery and misrepresentation. The theft of the goods, which served as the bank’s collateral, left a debt in excess of N1.6billion as at September 26, 2012.
The Innoson Chairman was arrested and interrogated the EFCC. After the interrogation, EFCC sources disclosed, he agreed to make monthly payments into Innoson’s account until his company's indebtedness to the bank is completely liquidated.
However, that agreement was breached, said sources. In September 2013, GT Bank expressed its disappointment by petitioning the Police, which deemed Mr. Chukwuma culpable. He was subsequently charged to court.
The case (No. FHC/L/565C/2015) is currently pending before Justice J. Faji of the Federal High Coury, Ikoyi, Lagos. The Police slammed charges of fraudulent clearance of goods, forgery, illegal conversion, stealing and conspiracy on Innoson Nigeria Limited, Mr. Chukwuma, Charles Chukwuma, Maximian Chukwura, Mitsui Osk Lines and Annajekwu Sunny. At the last proceedings, the matter was adjourned to November 21, 2017 for arraignment/or hearing of a motion for issuance of Bench Warrant.
Innocent Chukwuma
Innoson would later approach GT Bank for a reconciliation of his account and pleaded for debt forgiveness.
The bank agreed and reconciliation was carried out on the account, which had a debit balance of N1,654,481,895.04 as at December 31, 2011. On account of the conciliatory posture by Mr. Chukwuma and EFCC intervention, GTBank, said authoritative sources, agreed to forego the N559m, which represented default charges that had accrued on the account and debited in line with the loan agreement it and Innoson.
On the basis of this, the bank decided to accept from Innoson the sum of N1.095billion as full and final payment of the company's indebtedness to the bank with the proviso that it must be paid in full not later than (30) days from the date of the letter written conveying the decision was written to Innoson.
Innoson, however, would stun the bank again when it filed a suit (No: FHC/AWK/CS/2012) against the bank at the Federal High Court, Awka, Anambra State, claiming that its account with the bank had been debited for excess charges totaling N559,374,072.09. He obtained a judgment in excess of N4.7billion against the bank from a judge said to be his ally.
This was despite breaching the amicable agreement between the company and the bank for a full and final settlement of N1,095,107,822.95, which saw the bank forgo the sum of N559,374,072.09, which accrued on its account during the period which he abandoned it.
To stall the criminal proceedings against him and his company, Mr. Chukwuma instituted suits at the Federal High Court, Abuja, as well as the Federal High Court, Awka in January 2014 against the Inspector- General of Police, Nigeria Police Force and investigating officer(s), seeking declaratory and injunctive reliefs, including orders restraining the Police from commencing criminal proceedings against him and his company.
To thwart the bank’s recovery bid as well as distract it from focusing on the criminal action and civil actions filed for recovery of the debt, Mr. Chukwuma and his company, revealed sources, have continued to institute lawsuits before various courts, claiming frivolous and outrageous sums against the bank.
Giving reasons for Mr. Chukwuma's arrest, the EFCC, in a statement signed by Mr. Wilson Uwujaren, its spokesman, Mr. Chukwuma refused to respond to invitations by the commission after initially being granted administrative bail by the commission, while his surety could also not be found. He was also said to have resisted arrest.
“Unfortunately, the industrialist resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emeni, Enugu, home.
“This was after he initially misled the Police Command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the commission duly identified themselves to policemen guarding his home," said the EFCC.
His thugs added the commission, assaulted its operatives, forcing the EFCC to call its Enugu office for reinforcement.
“In all of this, the commission’s operatives acted with decorum and civility. No one was manhandled or assaulted by the EFCC team and not a single shot was fired, despite the provocation.
“Chief Chukwuma and his brother, Charles Chukwuma (who is still at large), are being investigated by the Insurance and Capital Market Fraud Section of the Commission’s office in Lagos over matters bordering on N1, 478, 366, 859.66 fraud and forgery.
"The industrialist, among other infractions, allegedly used forged documents to secure tax waivers,” said the commission.
GT Bank, on Thursday, released a guarded statement, saying it would not want to speak about some of the allegations because they are already before the courts. It, however, maintained that it would take necessary legal steps when its rights are infringed upon.
What the bank did not say, explained sources, was that in responding to Innoson’s motion for a stay of criminal proceedings at the Court of Appeal, Justice J.S Ikyegh, on September 17, dismissed the motion as unmeritorious and ordered that proceeding in the criminal case against Innoson should proceed.
A Copy of the Bill of Lading in possession of GT Bank that Mr. Innocent Chukwuma allegedly forged
On October 12, the Police filed an application (No. FHC/L/565C/2015) for the issuance of bench warrant against Mr. Chukwuma, Charles Chukwuma and Annajekwu Sunny for fraudulent clearance of goods, forgery, conversion, stealing and conspiracy presently pending before Federal High Court, Ikoyi, Lagos.
The current hoopla quickly became political as Mr. Chukwuma mobilized lawmakers in the Senate who in turn began pushing an ethnic narrative over his arrest and detention by the Economic and Financial Crimes Commission. Sources told Saharareporters that Mr. Chukwuma had become a law unto himself, using political connections to circumvent official scrutiny. They said during ex-President Goodluck Jonathan’s era, Mr. Chukwuma was untouchable. During one of his court cases in Lagos, A federal judge who appears to be at his mercy of Mr. Chukwuma’s lawyers Justice Saliu Saidu of the Federal High Court in Lagos had to warn him that he would not be intimidated.
After his arrest by the EFCC, the forces against the anti-corruption Czar, Ibrahim Magu at the Nigerian Senate came out of the woodworks, even with the Senate President, Bukola Saraki making a ridiculous assertion with a rhetoric question on the floor of the Senate wondering if the FBI would intervene in a dispute between Ford Motors and an American bank.
The worsen the case of official collusion with Mr. Chukwuma, the Attorney General of the Federation, Abubakar Malami claimed he had not been briefed about Mr. Chukwuma legal issues, but a cursory check shows that the police is prosecuting Chukwuma through the office of the AGF.
Yesterday, a lawsuit filed by lawyers before Justice Rabiu-Shagari of the Federal High Court in Lagos by Mr. Chukwuma's lawyers challenging his detention through a fundamental rights enforcement lawsuit was curiously withdrawn by his lawyers, a sign that he had achieved his objectives using his political connections to bully his bank and browbeat the courts and law enforcement agencies investigating the case of forgery against him.
Bill-Of-Lading-Innoson.pdf DEC 23, 2017 Innoson vs GT Bank: How Industrialist Defrauded Bank And Bullied The EFCC, The Police And Courts With his Political Connections
Mr. Innocent Chukwuma, the Anambra-born industrialist and Chairman of Innoson Nigeria Limited, may have succeeded playing the victim with his arrest, on Tuesday, by the Economic and Financial Crimes Commission (EFCC), but there are clear indications that he attempted to defraud Guaranty Trust Bank (GTBank) through forgery of documents. Mr. Chukwuma was released on bail on Thursday. Part of Mr. Chukwuma's success manifested in his arrest being promoted as an ethnically biased move as well as one to hamper a local industrialis

This car was manufactured in anambra state why is the plate number showing Lagos state.

Kudos to Innoson motors.

Kudos to GTB for giving him the loan to expand his company.

Proudly Nigerian

[quote author=GoldNiagara post=63554992][/quote]

INNOSON VS GTB: Priceless Lessons For Young And Upcoming Nigerian Entrepreneurs

http://innosonmotors.com/innoson-vs-gtb-priceless-lessons-young-upcoming-nigerian-entrepreneurs-part-2/
One of the initial challenges Innoson faced during the construction of the vehicle manufacturing plant at Nnewi is the unlawful seizure and auction sale of about 25 pieces of 40ft containers of imported completely knocked down (CKDs )motorcycle belonging to Innoson Nigeria Ltd. It only took the grace of God for Innoson to survive the trauma that came with it. The value of the CKDs ran into Hundreds of Millions of Naira and a major part of the funds came from Bank loans.

According to Dr. Innocent Chukwuma, this period when the Nigeria Customs auctioned and sold his goods is the most turbulent period of his life. One of the things he carefully did was to find a way to avoid getting high blood pressure because he knew the development of high blood pressure might lead to his death.

The Genesis of Innoson Vs Customs Court Case
Innoson established the first indigenous motorcycle assembly plant in Nigeria and based on this effort, the Federal Government, through the Federal Ministry of Finance gave a concession to him to pay 5% on his imported motorcycle CKDs. The approval is in form of a certificate. The certificate runs for 12 months after which it is renewed.

Between October and December 2004, Innoson imported about 25 containers of motorcycle CKDs, his certificate was yet to expire. The certificate expiration was on 12th July 2005.
When the goods arrived in Nigeria, Innoson made efforts to clear the goods. He paid the required duty as calculated by COTECNA- the inspection agent and he was issued a Clean Report of Inspection (CRI) which showed the duty he was expected to pay.

His bank, GTB paid the money to the Federal government. And then he was issued with a Customs Revenue Receipt. The Receipt was issued by GTB that made the payment. The original copies were handed over to the customs.

After the payment of the duty, Innoson submitted all relevant documents to the Nigerian customs but the customs failed to release the goods. The goods were not released because they alleged that Innoson under paid the duty. When Innoson learnt of this, he referred them to the concession certificate which allowed him to clear its goods based on 5% duty rate.

In spite of showing the certificate to them, Customs refused to release the goods and showed his clearing agent a circular letter which removed the name of Innoson from the list of companies enjoying such concession.

Upon receiving the letter, Innoson protested by sending a written protest to the Minister of Finance. The Minister of Finance gave a directive through a letter to The Nigerian Customs to allow Innoson clear its goods. The Nigerian Customs then instructed their officers to allow Innoson clear its goods at the concessioned rate of 5%. The directive was also done in writing vide a letter dated 13/12/2005.

With the letter from the Minister of Finance as well as The Nigerian Customs, Innoson re-submitted its documents to the Nigerian Customs officials to enable him take delivery of the goods.

After the submission of the documents, they still delayed in the processing the documents. After the delay, he was given approval to take its goods as overtime cargo through a written approval dated 1st Feb 2006, 2nd Feb 2006 and 9th Feb 2006 for the three bill of laden respectively.

After receiving the written approvals, Innoson made attempts to clear the goods. After customs had passed the entry, Innoson could not locate the goods at the wharf. His clearing agent continued searching for the goods at the wharf until the 1st of March, 2006 when they learnt that 18 of the 25 containers had been sold by the customs.

Upon hearing the goods had been sold by the customs, Innoson contacted its solicitors to write to the Ministry of Transport, Finance and the Comptroller-General of Customs which they did.

After sending the letter, the Minister of Finance invited Innoson to a meeting. At the meeting, Innoson was referred to the Chairman of the Presidential Special Committee on Port Decongestion and the Comptroller-General of Customs. The meeting between the three parties was held on 12th May, 2006 at Customs office in PZ Complex, Ikorodu Town, Lagos.
At the meeting of 12th May 2006 with the Hon. Minister of Finance, Transport and the Assistant Comptroller General of Customs and other stakeholders, the Chairman of the Presidential Special Committee on Port Decongestion referred Innoson to the Assistant Comptroller-General of Customs. The Assistant Comptroller-General directed Innoson to forward all relevant documents to his office so that he can be compensated.

On 18th May, 2006, Innoson forwarded the documents requested for by the Assistant Comptroller General of Customs through his solicitors.

The Customs ignored the documents that was forwarded and sold the remaining containers. Innoson is yet to come to terms why customs sold his containers. First of all, he was not notified that his container was seized. He was not informed that his containers were to be sold.

The said containers never contained any contraband goods but contained motorcycle CKDs. He did not at any time abandon the containers containing the motorcycle CKDs at the port. He was never taken to court. Innoson was not aware that there was a court order to sell his goods. The Federal Government gave him a concession to pay less duty because he owns an automated assembly line and as a result of the promise to increase the local output. The assembly line had a workforce of about 750 workers.

The questions that remained unanswered include:
• Whether the Customs has the right to refuse the release of the goods as stated in the CRI? The CRI reflected the 5% concession.
• How long do goods stay before it is declared as an overtime cargo? Do goods stay in the port for 3 months and thereafter become overtime?
• Were the Customs Officials actually carrying out their official duties or was there a conspiracy to destroy Innoson by some people?
• There was a time lag between the periods the goods were to be cleared. Innoson never applied for an overtime clearance at any time. His goods were never gazette before they were sold.

Innoson had paid the duty as stated in the CRI but the customs insisted that Innoson must pay 30%.
Innoson was not given any notice to the effect that its containers were to be sold as overtime cargo after the approval granted to him to clear the containers as overtime cargo.

Even as an overtime cargo, there are procedures to be followed in selling it. These procedures were not followed. The usual procedure when there is conflict of figures for payment is for customs to lodge a protest.

Innoson is not aware that any committee was set up to sell his containers. The customs equally did not advertise the sale of his container in any newspaper.

The procedure the presidential Special Committee on Ports and the Customs for selling good by auction is as follows;

(a) To notify the owner of their intentions to sell the goods by auction.
(b) To give notice of the intended auction sale to the public through newspaper publication.
(c) Set up a joint disposal committee to sell the goods by auction.

None of these provisions of the law was adhered to in auctioning his goods for sale. Therefore the Presidential Special Committee and Ports decongestion had no basis for auctioning Innoson’s goods after all genuine efforts by him to clear its goods.

Based on the damages that were incurred by the seizure and subsequent auction of his goods by the customs, Innoson through his solicitors sued the Nigerian Customs to the Federal High Court, Lagos division.

The trial court therefore ordered the Custom to pay Innoson the sum of N2.4B being the cost of his goods and damages incurred.

Furthermore, Innoson got a garnishee order from the Court ordering GTB to pay the judgment debt of N2.4B to him. GTB decided to cry more that the bereaved by appealing the court ruling on the garnishee to the Court of Appeal, Ibadan Division.

However in a unanimous judgment, delivered on 6th February 2014, the Court of Appeal dismissed the appeal and affirmed the judgment of the trial Court and ordered the GT Bank to pay the said sum of N2.4B to Innoson.

Still aggrieved, GTB appealed to the Supreme Court. The Supreme Court is yet to deliver its judgment.

It is interesting to state here that GTB has withdrawn the money due to be paid to Innoson from Customs account with it and has held the money till date, doing business with it and has been making profit out of it

Priceless Lessons For Young And Upcoming Nigerian Entrepreneurs.

1. Embrace Honesty: make honesty part of your business policy in your dealings with Government, your bank, customers, suppliers and even business partners. It will become your best defense in turbulent times.

2. Have Faith In Judiciary: the judiciary is the last hope of the common man. If you are standing on the foundation of truth, no matter how hard your opponent fights to defeat you, the truth through judiciary will prevail.

3. When Right, Don’t Be Afraid To Fight For Your Right: no one, not even the Government should be too big to confront when fighting for your right. That’s why you should never undermine the next lesson.

4. Have A Sound Solicitor: business is warfare; there’s constant battle in the marketplace for brand visibility and loyalty, and there’s battle off the marketplace when disagreements arises between your company and other parties. This is why always enlisting the services of a sound solicitor that will defend you in court is a business necessity.

5. Always Demand For Written Documents: the world of business is full of countless promises and failures, so never accept any agreement verbally. Always demand for written documents to back up any claim, agreement, arrangement or contract. They are strong evidences in the court of law that will vindicate you when trouble arises.

deco22:
The fighter jets made in Nigeria,who do you think makes them?.

which fighter jets did u make in nigeria...
so u think u re talking to John...


if tear u slap u go shift go corner..

GoldNiagara:
Igbo celebrating a mediocre and a criminal! So he has been using Afonja money to couple vehicles. Little wonder Igbos want die for Lagos. Don't worry Afonja Gt bank will soon take over innoson is an hostile take over. You people will still have a lot to wail about. Go and ask Etisalat.

Pain hater go and die eddiot.

stanluiz:
Pain hater go and die eddiot.

He pain the wet fart!

Obdk:


which fighter jets did u make in nigeria...
so u think u re talking to John...


if tear u slap u go shift go corner..

If repairing and redesigning old aircrafts bought from Pakistan and other countries,putting new equipments on them and also arming them doesn't count then I guess Innoson should also stop saying Made in Nigeria.


And you don't need to behave like a tout,you can reply me while displaying some sense of maturity.

deco22:
If repairing and redesigning old aircrafts bought from Pakistan and other countries,putting new equipments on them and also arming them doesn't count then I guess Innoson should also stop saying Made in Nigeria.


And you don't need to behave like a tout,you can reply me while displaying some sense of maturity.

and federal government' had to run to innoson to help them fabricate parts for thr airplane


how come no One thought of proforce


The Chief of the Air Staff (CAS), Air Marshal Sadique Baba Abubakar has lauded the management of Innoson Vehicle Manufacturing (IVM) Company for providing the needed technical support that has enabled the Nigerian Air Force (NAF) to sustain its operations against the Boko Haram insurgents. The Company, at a time when the NAF would have been forced to ground its entire fleet of Alpha Jets due to lack of brake assembly, had helped to locally modify and overhaul the brake assembly of the MB-339 aircraft for adoption on the Alpha Jets. This ingenious effort by IVM is instrumental to the continued operation of the Alpha Jets, and had helped to save the day when help was not forthcoming from abroad. Air Mshl Abubakar stated that the contribution by IVM deserves national recognition and award, given the important role played by the Alpha Jet in the ongoing counter insurgency operations in North East Nigeria.
The collaboration between the NAF and IVM is in line with one of the key drivers of the CAS vision which is “strategic partnership with ministries, departments and agencies for enhanced research and development”. Beyond the feat, the NAF is poised to exploit the possibilities of mass producing the Alpha Jet break assembly and other parts locally by partnering with IVM, as well as other credible organisations, to build own capacity for enhanced self-reliance. The invitation of IVM team to Headquarters Nigerian Air Force for further discussions was based on this premise.
The CAS, while receiving the Chairman IVM, Mr Innocent Chukwuma and team members in his office, expressed the willingness by the NAF to expand the scope of existing research and development collaboration with IVM. “Our partnership with IVM would not end with the Alpha jet break assembly but a leeway to forge new frontiers, through research and development, to replicate some of the spares needed by our platforms” the CAS said. Air Mshl Abubakar stated that the feat has not only saved the country huge foreign exchange that otherwise would have been spent abroad but also adding value to Nigerians through provision of job opportunities.
Meanwhile, the Chairman IVM has expressed the readiness of his company to partner with the NAF to help manufacture locally some of the spares needed to keep its aircraft operational. Mr Innocent Chukwuma noted that such synergy as existing between the NAF and IVM would help to reduce the dependence on foreign technologies while promoting self-reliance, as well as technological and economic development. He disclosed that his company has the expertise to locally manufacture and assemble a number of automobile products that would be of benefit to the NAF.
You are please requested to kindly use your mass media to disseminate this information for the awareness of the general public. Thanks for your usual support and cooperation.
Group Captain Ayodele Famuyiwa
Director of Public Relations & Information
Nigerian Airforce Force

https://prnigeria.com/2016/02/innoson-nigeria-produces-local-parts-fighter-jets-naf/

BITTER tribe can't stop Innoson
http://www.bbc.com/news/business-31536706
From Motorcycle king to vehicle manufacture and other products
Nigeria has Africa's largest economy. It is mostly known for oil, but that wealth has not trickled down. As it joins the global economic top table, what kind of businesses and businesspeople are thriving in Africa's most populous nation?

"You're supposed to hold something," I was told. "Hold what?" I replied naively.

"A sample, you're supposed to hold a sample of what you're selling."

Amaka was wondering what a reporter holding a microphone was doing hanging around Onitsha's main market, neither buying nor selling. She looked at me with pity, as if to say, "if you don't even know about samples, you have a lot to learn."

I had been at the market for less than five minutes, and someone was already trying to get the measure of what my business was about.

There's plenty to learn about Nigeria in Onitsha, a city in Anambra state on the banks of the River Niger in the south-east of the country.

Something like three million people flock here every day, and some call it the biggest market in west Africa. They come from across the region, to buy everything from high-end mobile phones to low tech plastic containers.

But in Onitsha and elsewhere while making Six Routes for the BBC, the people I met show that the Nigerian economy is finding other lubricants.

Innocent Chukwuma is a successful businessman. He owns five different manufacturing companies around the south-east, and is very optimistic about Nigeria's future.

Looking out over his sprawling complex just down the road in Enugu, it's easy to see why. The government gave him land to expand his business and now he's probably the largest private sector employer in Enugu state. 4,300 people work at the plastics plant we visited.

"In Africa today anyone who can invest in manufacturing - in a short time you'll make money as you want," says Innocent.

Innocent started small. He was a spare parts trader in his native Nnewi. He had graduated from turning his brother's spare parts side business to establishing his own import venture.

As the prices of motorcycles coming in from Japan increased in the 1980s, he noticed something about the way they were shipped.

They were coming in by barge in containers. And being a spare parts trader he recognized that a motorcycle is made up of individual parts.

And so, he thought, if he imported the motorcycle in pieces it would take up a lot less space in the shipping container. And he was right.

At the time importers could fit about 40 pre-assembled motorcycles in a single shipping container. But as individual parts, Innocent could fit more than 200 motorcycles in each container. He now had a significant advantage over his competitors - and could sell his motorcycles for much less.
Image copyright Innocent Image caption Importing bikes unassembled gave Innocent a key price advantage
Labour costs

Another advantage he had over his competitors was the cost of labour in Nigeria being relatively cheap. A factory worker in Nigeria would earn around $500 a month.

He explains, "When I brought the first one I called the local people, and gave them some training, they assembled it perfectly and the price was cheaper."

Much cheaper in fact: "When they are selling for about 150,000 [naira] for one motorcycle, I sold my own for 80,000 ($400; £260)."

Innocent's bikes were nearly half the price of his competitors. He sold three containers' worth of motorcycles in about three months.

"So I went back and brought about 10 containers, and the 10 containers took me about one month to finish."

By the time he had the process down he was buying 200 containers.

But Innocent's advantage didn't last forever, and soon everyone was copying his strategy.

"The price crashed to 60,000 but when I saw that the price had come down and everybody was doing it - that's why I built this plastic plant."

Motorcycles were just the beginning for Innocent. He had another realization, that he could manufacture some of the motorcycle parts himself. Specifically the plastic parts.
Image caption Innocent's business now makes a range of plastic goods
Power cuts

The Innoson Group now makes all kinds of products. His motorcycle business has expanded to cars and buses while his plastics plants now manufacture tables, chairs, water drums, plates, boxes for electricity meters, and much else.

He believes anyone can follow his lead in Africa, which he refers to as a virgin place for entrepreneurs. Innocent's optimism is infectious and it's easy to get swept up in the euphoria of success, but business in Nigeria is not easy.

Back in Onitsha market it's also a microcosm of the obstacles entrepreneurs face every day.

The day I was there the traders were protesting against a new levy. The trade association decided to charge for a CCTV system, which the traders said the state governor had given them for free. It's the sort of surprise cost that wrecks a business plan.

But corruption is not even the biggest problem in Nigeria. Other countries have thrived despite corruption, and Nigeria shouldn't be different.

The lights go out constantly and nobody bats an eyelid or feigns surprise, everyone just carries on.
Image copyright Innocent Image caption High energy costs are a limiting factor for many Nigerian businesses
'Credit tomorrow'

People make do with costly diesel generators, and that even applies to big factories.

For Innocent the high cost of energy is a necessary part of doing business in Nigeria. But it puts a real brake on what entrepreneurs can achieve.

The people I met are not put off by these obstacles. If you walk into some shops in Nigeria, there's a sign which reads: "No credit today, come back tomorrow."

If you keep waiting for the perfect conditions in which to do business, you'll be like the shopper who returns day after day, hoping that the shopkeeper might sell them goods on credit.

supereagle:


Banks and Nigeria forces use their products.
https://www.nairaland.com/3950201/proforce-nigerias-indigenous-armoured-vehicle

Nice one!

[s]

tiger28:
MEANWHILE.....NONE of you 5 percenters patronize your own Innovator. Who buys cars ASSEMBLED with screw drivers and spanners?when i saw the pics,i almost fainted. Innoson is an upgraded mechanic workshop!

[/s]

zoba88:
Happening Now:

Ebonyi State Governor, Chief Engr. David Nweze Umahi,Chairman of Innoson Group of Companies, Chief Innocent Chukwuma and the Chairman of Ibeto group, Chief Cletus Ibeto checking out a new special utility vehicle (G-Guard) produced in Nigeria by an Anambra born industrialist, Chief Innocent Chukwuma at a courtesy call on Chief  Cletus Ibeto by the Ebonyi State Governor, Chief Engr. (Dr.) David Nweze Umahi at his compound in Otolo Nnewi, Anambra State.



Source: http://www.trezzyhelm.com/2017/12/gov-umahi-and-cletus-ibeto-inspect-new.html?m=1

That's not a g guard, not close, he could get killed inside that vehicle by a child with a catapult

Obdk:



and federal government' had to run to innoson to help them fabricate parts for thr airplane


how come no One thought of proforce


The Chief of the Air Staff (CAS), Air Marshal Sadique Baba Abubakar has lauded the management of Innoson Vehicle Manufacturing (IVM) Company for providing the needed technical support that has enabled the Nigerian Air Force (NAF) to sustain its operations against the Boko Haram insurgents. The Company, at a time when the NAF would have been forced to ground its entire fleet of Alpha Jets due to lack of brake assembly, had helped to locally modify and overhaul the brake assembly of the MB-339 aircraft for adoption on the Alpha Jets. This ingenious effort by IVM is instrumental to the continued operation of the Alpha Jets, and had helped to save the day when help was not forthcoming from abroad. Air Mshl Abubakar stated that the contribution by IVM deserves national recognition and award, given the important role played by the Alpha Jet in the ongoing counter insurgency operations in North East Nigeria.
The collaboration between the NAF and IVM is in line with one of the key drivers of the CAS vision which is “strategic partnership with ministries, departments and agencies for enhanced research and development”. Beyond the feat, the NAF is poised to exploit the possibilities of mass producing the Alpha Jet break assembly and other parts locally by partnering with IVM, as well as other credible organisations, to build own capacity for enhanced self-reliance. The invitation of IVM team to Headquarters Nigerian Air Force for further discussions was based on this premise.
The CAS, while receiving the Chairman IVM, Mr Innocent Chukwuma and team members in his office, expressed the willingness by the NAF to expand the scope of existing research and development collaboration with IVM. “Our partnership with IVM would not end with the Alpha jet break assembly but a leeway to forge new frontiers, through research and development, to replicate some of the spares needed by our platforms” the CAS said. Air Mshl Abubakar stated that the feat has not only saved the country huge foreign exchange that otherwise would have been spent abroad but also adding value to Nigerians through provision of job opportunities.
Meanwhile, the Chairman IVM has expressed the readiness of his company to partner with the NAF to help manufacture locally some of the spares needed to keep its aircraft operational. Mr Innocent Chukwuma noted that such synergy as existing between the NAF and IVM would help to reduce the dependence on foreign technologies while promoting self-reliance, as well as technological and economic development. He disclosed that his company has the expertise to locally manufacture and assemble a number of automobile products that would be of benefit to the NAF.
You are please requested to kindly use your mass media to disseminate this information for the awareness of the general public. Thanks for your usual support and cooperation.
Group Captain Ayodele Famuyiwa
Director of Public Relations & Information
Nigerian Airforce Force

https://prnigeria.com/2016/02/innoson-nigeria-produces-local-parts-fighter-jets-naf/

So Government also patronises Innoson,does that mean they don't also patronise Proforce... Government patronises the two companies to boost them na.

And I don't understand the need for all this,am just quoting that guy because he was ignorant of what Proforce is,was just telling him what they are so I don't understand why the article.

Our enemies can't stop our progress


A French TV crew takes a trip to the industrial city of NNewi in anambra State, South Eastern Nigeria, home to Innoson Vehicle Manufacturing, Nigeria's first indigenous vehicle manufacturer. Enjoy!


https://www.youtube.com/watch?v=bPxasvi6YIM

Igbo's are the life blood of Nigeria !

dafeyankee:
How jail bros?

Ask ur papa

ufuosman:
Good one, make this man just try make car of 700k. I know is not easy but make him try

Bro its possible if only the Nigerian government will step in to subsidies the the price then he can sell for 700k or less.They way they claim to do so in oil.

Jibril659:
fugly

People with ur kind of heart die b4 the age of 30.I hope ,.............

Ddy:


Ask ur papa

Drug carrier how market?so them never kill you ?

FreddyKruger:
When only one citizen from the 5% region is more innovative and versatile than a vegetable and his minions from the 95% parasitic region. More grease and grace to the works of your hands Chief Innocent Chukwuma. God bless Innoson Motors
#proudlyfivepercent

Let him go and pay GT Bank the money he is owing them and stop all these tribalistic nonsense. His children are probably all schooling in the U.S. And you are at home with no light and your minute mb supporting him?

I can bet with your 5% proud none of your family members works for Innoson group?

Ilovemystate:
BITTER tribe can't stop Innoson
http://www.bbc.com/news/business-31536706
From Motorcycle king to vehicle manufacture and other products
Nigeria has Africa's largest economy. It is mostly known for oil, but that wealth has not trickled down. As it joins the global economic top table, what kind of businesses and businesspeople are thriving in Africa's most populous nation?

"You're supposed to hold something," I was told. "Hold what?" I replied naively.

"A sample, you're supposed to hold a sample of what you're selling."

Amaka was wondering what a reporter holding a microphone was doing hanging around Onitsha's main market, neither buying nor selling. She looked at me with pity, as if to say, "if you don't even know about samples, you have a lot to learn."

I had been at the market for less than five minutes, and someone was already trying to get the measure of what my business was about.

There's plenty to learn about Nigeria in Onitsha, a city in Anambra state on the banks of the River Niger in the south-east of the country.

Something like three million people flock here every day, and some call it the biggest market in west Africa. They come from across the region, to buy everything from high-end mobile phones to low tech plastic containers.

But in Onitsha and elsewhere while making Six Routes for the BBC, the people I met show that the Nigerian economy is finding other lubricants.

Innocent Chukwuma is a successful businessman. He owns five different manufacturing companies around the south-east, and is very optimistic about Nigeria's future.

Looking out over his sprawling complex just down the road in Enugu, it's easy to see why. The government gave him land to expand his business and now he's probably the largest private sector employer in Enugu state. 4,300 people work at the plastics plant we visited.

"In Africa today anyone who can invest in manufacturing - in a short time you'll make money as you want," says Innocent.

Innocent started small. He was a spare parts trader in his native Nnewi. He had graduated from turning his brother's spare parts side business to establishing his own import venture.

As the prices of motorcycles coming in from Japan increased in the 1980s, he noticed something about the way they were shipped.

They were coming in by barge in containers. And being a spare parts trader he recognized that a motorcycle is made up of individual parts.

And so, he thought, if he imported the motorcycle in pieces it would take up a lot less space in the shipping container. And he was right.

At the time importers could fit about 40 pre-assembled motorcycles in a single shipping container. But as individual parts, Innocent could fit more than 200 motorcycles in each container. He now had a significant advantage over his competitors - and could sell his motorcycles for much less.
Image copyright Innocent Image caption Importing bikes unassembled gave Innocent a key price advantage
Labour costs

Another advantage he had over his competitors was the cost of labour in Nigeria being relatively cheap. A factory worker in Nigeria would earn around $500 a month.

He explains, "When I brought the first one I called the local people, and gave them some training, they assembled it perfectly and the price was cheaper."

Much cheaper in fact: "When they are selling for about 150,000 [naira] for one motorcycle, I sold my own for 80,000 ($400; £260)."

Innocent's bikes were nearly half the price of his competitors. He sold three containers' worth of motorcycles in about three months.

"So I went back and brought about 10 containers, and the 10 containers took me about one month to finish."

By the time he had the process down he was buying 200 containers.

But Innocent's advantage didn't last forever, and soon everyone was copying his strategy.

"The price crashed to 60,000 but when I saw that the price had come down and everybody was doing it - that's why I built this plastic plant."

Motorcycles were just the beginning for Innocent. He had another realization, that he could manufacture some of the motorcycle parts himself. Specifically the plastic parts.
Image caption Innocent's business now makes a range of plastic goods
Power cuts

The Innoson Group now makes all kinds of products. His motorcycle business has expanded to cars and buses while his plastics plants now manufacture tables, chairs, water drums, plates, boxes for electricity meters, and much else.

He believes anyone can follow his lead in Africa, which he refers to as a virgin place for entrepreneurs. Innocent's optimism is infectious and it's easy to get swept up in the euphoria of success, but business in Nigeria is not easy.

Back in Onitsha market it's also a microcosm of the obstacles entrepreneurs face every day.

The day I was there the traders were protesting against a new levy. The trade association decided to charge for a CCTV system, which the traders said the state governor had given them for free. It's the sort of surprise cost that wrecks a business plan.

But corruption is not even the biggest problem in Nigeria. Other countries have thrived despite corruption, and Nigeria shouldn't be different.

The lights go out constantly and nobody bats an eyelid or feigns surprise, everyone just carries on.
Image copyright Innocent Image caption High energy costs are a limiting factor for many Nigerian businesses
'Credit tomorrow'

People make do with costly diesel generators, and that even applies to big factories.

For Innocent the high cost of energy is a necessary part of doing business in Nigeria. But it puts a real brake on what entrepreneurs can achieve.

The people I met are not put off by these obstacles. If you walk into some shops in Nigeria, there's a sign which reads: "No credit today, come back tomorrow."

If you keep waiting for the perfect conditions in which to do business, you'll be like the shopper who returns day after day, hoping that the shopkeeper might sell them goods on credit.

everyone is watching them. yorubas are very very hateful and bitter lots

kinibigdeal:


Funny! that was when they started in 2008. They manufacture now

It's bad when you only struggle to remain relevant on paper. That's exactly what killed Nigeria's education system. If there's any other car manufacturing plant in Nigeria that's making waves, you'd not need to be so hypertensive struggling to convince us even when we still doubt. Just appreciate others when they're better than you, it brings favor in life.

kinibigdeal:


Have you heard of Proforce in ogun state?

I don taya for this Proforce thing. Go research proforce wella. Proforce OUTFITS and customizes vehicles. Turning standard cars and trucks into armoured ones. What they mostly do is take apart a vehicle, then reassemble it with a different body part and customizes its engine for better power and ruggedness. Even they don't claim to be vehicle manufacturers, so cut it out.

Visit their website at proforcedefence.com for more information, thanks.

[s]

blacknp:
Let him go and pay GT Bank the money he is owing them and stop all these tribalistic nonsense. His children are probably all schooling in the U.S. And you are at home with no light and your minute mb supporting him?

I can bet with your 5% proud none of your family members works for Innoson group?

[/s]

blacknp:
Let him go and pay GT Bank the money he is owing them and stop all these tribalistic nonsense. His children are probably all schooling in the U.S. And you are at home with no light and your minute mb supporting him?

I can bet with your 5% proud none of your family members works for Innoson group?

. You are even more tribalistic and greedy than the guy you quoted