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The Federal Government has guaranteed that it will prevent the exclusion of Innoson Vehicle Manufacturing Company Ltd (IVM) from being awarded contracts for bus production under the Presidential Compressed Natural Gas (CNG) Initiative.
Dr. Innocent Chukwuma, the Chairman of Innoson Group, has praised President Bola Tinubu for the CNG Initiative after the removal of petrol subsidy.
Mr. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), provided reassurance over the weekend while visiting the existing IVM factory complex in Nnewi, Anambra State, and the upcoming multi-billion new IVM plant.
This new plant will have the capacity to produce 30,000 CNG vehicles annually.
The minister referred to the exclusion of Innoson Motors as a thing of the past and encouraged Dr. Innocent Chukwuma, Chairman of IVM, to continue creating job opportunities for qualified individuals through his factories.
There was public criticism of the Federal Government for not initially including Innoson Motors in the contracts for supplying CNG buses when the names of the auto companies were first announced.
Innoson Motors had been a pioneer in manufacturing autogas vehicles, including buses of various capacities, even before the current administration came into power.
The minister pledged to rectify past mistakes and make Dr. Innocent Chukwuma proud of his Nigerian roots.
Furthermore, Ekpo expressed his appreciation for Chukwuma's investment in CNG vehicle manufacturing and his alignment with President Bola Tinubu's commitment to using the CNG Initiative to mitigate the impact of fuel subsidy removal on the public.
He noted that Innoson's large-scale production of CNG vehicles was facilitating the transition from petrol and diesel to gas.
Ekpo also mentioned that IVM's manufacturing activities were in line with the President's aspirations and that the president would be pleased with the company's growth and expansion.
He emphasized that Tinubu's plan for the use of CNG was aimed at reducing government spending and promoting an environmentally friendly economy.
"I was shown the exhaust pipe, and I was impressed to see that it was very clean with no emissions. I appreciate what I have seen at Innoson, and I commend the Chairman for aligning with the President's vision of transitioning 'from gas to prosperity.'
I will report back to the President about what I have witnessed here in Innoson when I return to Abuja. The decision on which direction to take will be up to the President.
There is a presidential committee on CNG, and I will collaborate with them to discuss how to cut costs and add value to Nigeria. CNG vehicles should be supported from all angles, and I believe the President will endorse such endeavors," he added.
Chukwuma expressed his belief that being excluded from the contract awards for the CNG buses by the Presidential Committee should be considered a past mistake, and he expects a fairer process in the future.
He suggested that the committee may not have been aware of IVM's progress in manufacturing CNG vehicles since 2022.
He emphasized that the committee is now better informed about the company's activities.
"It's not necessary for them to use IVM to kickstart the CNG Initiative. They can start with any brand, but they will eventually realize the true situation as time goes on. We are all working together to advance the nation," he said.
The Innoson Chairman also praised Tinubu for the CNG Initiative following the removal of petrol subsidy.
He also commended the president for his support.
