Indigenous vehicle manufacturing company, Innoson is also feeling the effects of the federal government’s restriction on forex.
Chairman of the auto-company, Innocent Chukwuma on Monday, led the management team of Innoson on a courtesy visit to the Minister of Science and Technology, Dr. Ogbonnaya Onu, in Abuja.
During the visit, he urged the government to assist Innoson in the provision of efficient power supply to the industries in Nnewi, Anambra state and also grant Innoson access to foreign exchange.
“Our major request is to help us in accessing foreign exchange to enable us keep and maintain our over 7, 200 employees. We wish to also request for a government policy to ensure that home-made goods are protected and patronised by all levels of governments and agencies.”
Chukwuma however, appears optimistic of the company’s future, stating that in the next five years, Innoson will begin local manufacturing of vehicle engines to achieve 100 per cent local content in the auto industry.
At the moment, Innoson is operating on 60 per cent local content with the assembling of vehicle parts and the purchase of vehicle engines from foreign markets.
Chukwuma added that being the first indigenous motor manufacturing company, Innoson will ultimately reduce the prices of vehicles and cut down the country‘s dependence on imported vehicles.