NigeriaThe year was 1978; a commercial town situated in the Eastern part of Nigeria, called Nnewi was the central hub for motorcycle importation. As it is today for tokunbo (foreign used) cars, so it was then for tokunbo motorcycles, they were the status quo. By 1987, a brand new motorcycle sold for N150,000 and a tokunbo one sold for N100,000 – N90,000. Things would have continued this way to this day, but for the intervention of a 25 years old Nigerian, named Innocent Chukwuma, the founder of Innoson Motors (IVM). Driven by his passion for people and his core business philosophy of bringing down costs and passing the gain to customers, he pioneered the first Made-in-Nigeria Motorcycle brand that sold for as low as N60,000. By year 2002, he had successfully driven out tokunbo (foreign used) motorcycles out of Nigeria forever!
The year was 1978; a commercial town situated in the Eastern part of Nigeria, called Nnewi was the central hub for motorcycle importation. As it is today for tokunbo (foreign used) cars, so it was then for tokunbo motorcycles, they were the status quo. By 1987, a brand new motorcycle sold for N150,000 and a tokunbo one sold for N100,000 – N90,000. Things would have continued this way to this day, but for the intervention of a 25 years old Nigerian, named Innocent Chukwuma, the founder of Innoson Motors (IVM). Driven by his passion for people and his core business philosophy of bringing down costs and passing the gain to customers, he pioneered the first Made-in-Nigeria Motorcycle brand that sold for as low as N60,000. By year 2002, he had successfully driven out tokunbo (foreign used) motorcycles out of Nigeria forever!