KEY POINTS
- IVM calls relocation reports false and misleading.
- Company expands into CNG and electric vehicle production.
- Chukwuma founded IVM in 2007 as Nigeria’s first automaker.
Innocent Chukwuma’s Innoson Vehicle Manufacturing pushed back hard this week against reports suggesting the company planned to move its operations and investments to Ghana, calling the claims false and misleading in a statement posted to its official X account.
The denial was unambiguous. “Innoson Vehicle Manufacturing remains proudly Nigerian-founded, built, and sustained with a clear vision of contributing meaningfully to the industrial and economic advancement of Nigeria,” the company said. “Nigeria is home.”
The suggestion carried significant symbolic weight. IVM is Nigeria’s first indigenous automobile manufacturer, founded in 2007 and headquartered in Nnewi, Anambra State, producing passenger cars, buses and trucks from a base Chukwuma has built over nearly two decades.
Expanding, not retreating
IVM did not simply deny the reports. It outlined an active expansion agenda to counter the narrative. The company said it is advancing projects in compressed natural gas and electric vehicle production, including a major facility in Nnewi designed to support cleaner and more cost-effective transportation options across Nigeria.
“Rather than divesting, IVM is deepening its roots, expanding its operations, and positioning itself as a key player in Africa’s automotive future, starting from Nigeria,” the company said.
Chukwuma has also long been one of Nigeria’s most vocal advocates for local manufacturing and import substitution, regularly pushing government to prioritize locally assembled vehicles over imports. The relocation narrative cut directly against that identity.
A denial with context
Furthermore, the pushback arrives at a sensitive moment for investor confidence in Nigeria. Currency volatility, infrastructure deficits and a difficult operating environment have prompted several businesses to reassess their footprints across the continent, making any suggestion that a flagship company like Innoson Vehicle Manufacturing might leave carry more weight than an ordinary denial.
IVM therefore urged the public and media to rely only on official communications and to disregard unverified reports. The company’s tone throughout was less defensive than confident: a business that believes Nigeria remains the right base of operations and expects the record to reflect that clearly.
