Firm  partners Innoson Motors with purchase of N600m vehicles.

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Firm  partners Innoson Motors with purchase of N600m vehicles.

Chinazor Megbolu    |   
An oil and gas firm, Oilserv Group has purchased vehicles worth N600 million from Innoson Vehicle Motors (IVM) in a move meant to deepen local content initiative of the Federal Government.

The organisation, a leading provider of integrated engineering, procurement, construction, installation and  commissioning company also noted they’re  using the move to  partner with the Innoson company in a bid to  support local production of vehicles to be used in the oil and gas sector.

The Chairman/ Group CEO of Oilserv Group, Dr. Emeka Okwuosa in his address during the tour of the IVM manufacturing plant in Nnewi, Anambra State, said the move is aimed at promoting local content.

While commending the IVM, Okwuosa pointed out that the essence of the visit was to encourage local content in the company.

He buttressed that the Group Chairman, IVM, Chief Innocent Chukwuma remains a brand that cannot be compared in terms of vehicles manufacturing.

“Innoson motors manufactures vehicles from scratch to finish. This is a huge development to Nigeria economy and growth to local content capacity.

“We are partnering with IVM on vehicles that are going to be used in the oil and gas industry for our operations.

“The company is very effective in fulfilling local content development. We are partnering with IVM in the area of conceptualisation, manufacturing and use of local vehicles in the oil and gas sector,” he said.

Okwuosa further posited that Innoson motors is a testimony to development of local capacity in the country, adding that the engineering firm since the 2nd quarter of 2020 has made over ₦600 million different purchase order with IVM.

He, however, stressed that the new confirmed partnership will further boost the economy and promote the use of local equipment and machinery.

Meanwhile, the IVM Chief executive in his reaction thanked Oilserv Group and its management for their support towards promoting local capacity.

He charged other organisations and individuals  to emulate  the gesture exhibited by Oilserv.

Chukwuma stated further that the IVM sources about 60 per cent of its materials locally, 
adding that the company is an 100 per cent manufacturing company and not assembling company.

“The company  only imports engine and light while all the electrical aspects  and others equipments are  been sourced in-country.

“We are proudly Nigeria vehicles manufacturing company, like Oilserv  who has excelled in engineering.

“We also partner with the military on special vehicles manufacturing and other companies,” Chukwuma said.

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