Nigeria First Policy: “Our Cheapest Car Costs N22 Million” : Innoson CEO

Nigeria First Policy: “Our Cheapest Car Costs N22m” : Innoson CEO said while speaking on Channels Television breakfast programme.

He also revealed that there are financing options/payment plans to purchase wide range of Made-in-Nigeria Innoson vehicles.

Innoson boss expressed optimism that the Nigeria First Policy will revitalise struggling local industries and attract global investors.

The Chairman of Innoson Vehicle Manufacturing Company Ltd (IVM), Chief Innocent Chukwuma, has revealed that the company’s cheapest vehicle cost about N22 million and that there are financing options to purchase its vehicles.

Innoson boss made this known while speaking on The Morning Brief, a Channels Television breakfast programme, on Tuesday May 20th 2025.

Chukwuma was speaking on the new Nigeria First Policy, which prioritises the use of locally made goods and services in all government procurement processes.

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When asked about price of the cheapest car in the Innoson lineup of Nigeria-made vehicles, Chief Innocent said :

“Yes my cheapest car i have with full air condition and very rugged is about N22 million… that’s the cheapest one we have”, adding that “I give guarantee of four years on that very car because it’s too strong”, though he failed to mention the name of the Innoson model.

When asked if there are financing options/payment plans to purchase wide range of Made-in-Nigeria Innoson vehicles, he said :

“It has all the options if you want to pay slowly I can allow you as far as you have a guarantee backing you then if you have a work or office where you are working, I guarantee you, I will give you to pay slowly”.

On the Nigeria First Policy, Innoson boss expressed optimism that the move will revitalise struggling local industries and attract global investors to Nigeria’s manufacturing sector.

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