Innoson’s Motor Deal with Sierra Leone Promotes Locally Made Automobiles From Nigeria

By May 25, 2019 Investment News

The Sierra Leonean Defence minister encouraged the Nigerian car manufacturing company to consider expanding its footprints by opening an outlet in Sierra Leone.

The reason why these vehicles will be deployed solely to contribute to the military Defence of the country wasn’t stated, but its decision to purchase locally made cars in Nigeria represents a new venture for Innoson motors.

An automobile deal with Sierra Leone earns Innoson motors an International recognition and a place to compete with other automobile producers on the continent. Innoson Vehicles, which has other investments in Nigeria ranging from transport to logistics, sources its part locally.

Through this deal, Innoson Motors which has earned itself the title of the “World’s First Black-owned Car Manufacturer” will not only be promoting locally made products but driving Nigeria towards a deviation from its other export.

Nigeria’s major exports consist of Crude Oil, cocoa and other Agricultural products, and now, car exports can be added to that number.

This deal goes a long way in showing how much automobile imports should be reduced and focus should be made on producing them in the country since it possesses the potential to produce military incorporated cars.

It also creates a case for other Nigerian locally made automobile companies such as National Trucks Manufacturers Ltd, etc to be supported by financial organizations and the government, so they can generally contribute to the economy.


Source: Venturesafrica