The news from Reuters that Innoson Vehicle Manufacturing Limited might also be shutting down is baffling, but every stakeholders, particularly Nigeria’s government must save the the company.
Innocent Chukwuma, the Founder of the company told Reuters that “We are waiting for the imported items for which there is a forex issue,”
The lamentations of Innocent Chukwuma to Reuters is an indication that Nigeria’s only indigenous car manufacturer might die in an economic recession that is just taking off.
Chukwuma is still optimistic and his optimism should be supported saying “I believe they are doing something but if they can’t do anything we’ll lay off some workers,”.
The company has stopped it production and could throw in the towel anytime soon. The clock is ticking, the CBN must save yet another company from going under.