IVM is Nigeria's first indigenous automobile manufacturing company, with headquarters in Nnewi, Anambra State. Before setting up the company Innoson Group, he was trading in spare parts, a business he began on completing his education in 1981.
In 2013, Innocent was appointed the Deputy Chairman, Board of Trustees National Coalition for Jonathan/Sambo presidency.
We'd be seeing Innocent Chukwuma's biography, date of birth, age, early life, family, parents, siblings, wife, education, net worth, houses, cars, social media handles and everything else you'd love to know about him.
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Innocent Chukwuma Profile
Before we continue, here's a quick rundown on Innocent Chukwuma's profile and a few things you'd love to know about him:Full name: Innocent Ifediaso Chukwuma
Date of birth: 1st October 1961
Age: 59 years
Nationality: Nigerian
Spouse(s): Ebele Chukwuma
Children: 5
Education:
Occupation: Businessman
Net worth: $1.5 billion
Innocent Chukwuma Biography, Date Of Birth, Early Life, Family And Education
Innocent Chukwuma was born on the 1st of October, 1961 in Uru-Umdim, Nnewi, Anambra State into the family of Chukwuma Mojekwu. His father, Chukwuma was a civil servant while his mother, Martina Chukwuma was a stay-at-home mum. Innocent is the last of the six children.On completing his primary and secondary education in his hometown, Innocent applied for admission to study his dream course, Engineering at the university but couldn't make it to the cut-off mark.
Apprenticeship and Career
Innocent began assisting his elder brother in his medicine store while awaiting the admission result. It was during this process that he discovered his natural talent for trading.When he couldn't meet the admission cut-off, he moved on with his trade. His elder brother, Gabriel took him to another popular Igbo trader, Chief Romanus Eze Onwuka where he served as an apprentice for a year.
Chief Romanus Eze Onwuka (Rojenny) was into motorcycle spare parts and was also the founder of the first private stadium in Nigeria, Rojenny Stadium in Oba near Onitsha.
Within a year of serving Rojenny, Innocent mastered the art of buying and selling and later started his business with the ₦3,000 given to him by his elder brother, Gabriel.
Gabros International
After a year of running the motorcycle spare parts business, Innocent and Gabriel took stock of both the medicine store and motorcycle parts business. The discovered that Gabros International was generating 10 times more income than the medicine store.This led his elder brother into closing sown the medicine store to focus more on the auto spare-part business.
The birth Innoson Group of Companies Limited
In 1981, Innocent, armed with his personal savings and cash from his brother, decided to set up his own business. He began trading under the name, Innoson Nigeria Limited and traded in Honda motorcycle parts. With time, he started importing motorcycles.Assembling of motorcycle spare parts
At a point, Innocent Chukwuma realised that people were going for second-hand motorcycles because of the high cost of the new ones. The new motorcycles were before then, already assembled when imported and a 40ft container could only take 40 motorcycles. The cost of shipping the goods greatly impacted the cost of motorcycles.He figured out ways to cut down the cost of imported new motorcycles by disassembling them so that more motorcycles can fit into the container and getting them assembled here in Nigeria. With the new idea, he was able to import 200 units (as against the previous 30 units) of motorcycles.
This made the costs of his motorcycles far cheaper than his competitors'. He sold them at the rate of ₦60,000 to ₦80,000 while his competitors' sold at ₦150,000.
He was also the first person that introduced Jingcheng brand of motorcycles into Nigeria.
Today, the Innoson Group has grown into one of the largest importers, suppliers and assemblers of motorcycles and motorcycle parts in Nigeria and West Africa as a whole.
Expansion and birth of the first indigenous vehicle manufacturing company
Innocent Chukwuma with time started expanding into other ventures. At a stage, he set up a plastic factory after noticing that the body of the motorcycles contained a lot of plastics. With this, he was able to produce all the plastic components in his factory, giving room for more units of the spare parts to go into the container.His is now one of the largest manufacturers of plastic products in Nigeria. He also manufactures crash helmets and is in fact, one of the biggest manufactures in West Africa as a whole.
When he discovered that almost everyone was getting involved in the motorcycle business while the state governments had started banning commercial motorcycles, he decided to do something unique again.
He set up the first indigenous vehicle manufacturing company, with its headquarters in Nnewi, Anambra State.
Subsidiaries of Innoson Group of Companies
Innoson Nigeria Limited: Manufacturing/assembling of motorcycles and motorcycle spare parts. They also deal on tricycle spare parts and other accessories.Innoson Technical & Industrial Co. Ltd: production of high-quality household and industrial plastics, health and safety accessories, storage container, fixture & fittings, electrical components and accessories.
Innoson Vehicle Manufacturing (IVM): Incorporated in 2007, they produce high capacity city bus, safe and cost-effective mini & midi buses, pick-up trucks and garbage collecting vehicles. They also offer good repair services and supply of parts.
Innoson General Tyres and Tubes Co. Ltd: Production of motorcycles tyres and tubes. The company’s plant is located in Enugu State, Nigeria.Innoson Oil & Gas Limited: Oil exploration and delivering of hydrocarbon energy products and services to people around the world. They were recently awarded 11 offshore oil wells by the government of Sierra Leone during a highly competitive bid process that featured other companies from different countries.
Personal Life
Innocent Chukwuma is a Christain. He is happily married to Lolo Mrs Ebele Chukwuma(Odoziaku Innoson, Nwanyimanaria). The marriage is blessed with 5 children and 5 grandchildren.Recognition and Awards
• Industrialist of the Year by Nigerian Union of Journalist, Enugu State (2006)• Justice of Peace by Enugu State Government (2006)
• Award of Excellence, Manufacturers Association of Nigerian (MAN) (2008)
• Meritorious Awards by Nigerian Society of Engineers (NSE) (2008)
• Officer of the Order of the Niger (OON) (2008)
• Business Person of the Year by the Sun Publishing Limited (2011)
• Honorary Doctorate Degree in Business Administration by Enugu State University of Science and Technology (2011)
• Best Customer by Bank of Industry (2011)
• Officer of the Federal Republic (2011)
• Entrepreneur of the Year by Wesley University of Science and Technology, Akure (2012)
• Most Innovative Entrepreneur by Vanguard Newspaper (2013)
• Auto Personality of the Year by Guild Motoring Correspondence (2013)
• Entrepreneurial Ambassador by Nigeria Arise (2014)
• Honorary Doctorate Degree in Business Administration by University of Nigeria (2014)
• Accomplished Contemporary Entrepreneurs’ Award by Federal Government (2014)
• Professor Barth Nnaji Prize for Technology at Igbo Awards 2017
Innocent Ifediaso Chukwuma Net Worth
Innocent Ifediaso Chukwuma is the founder/CEO of Innoson Group, a business conglomerate with interests in motorcycle/tricycle sales and spare parts, plastics, vehicle manufacturing, oil and gas and more.According to NaijAuto.com, Innoson is estimated to be net worth $1.5 billion.
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Before you leave, also check out our next article on the biography and net worth of Nigerian politician and founder of Nairabet, Otunba Akin Alabi.
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