By Udeme Akpan
Oilserv Group, an oil and gas company in Nigeria, yesterday, partnered with Innoson Vehicle Motors (IVM), to support local production of automobiles in Nigeria.
The Chairman/Group CEO of Oilserv Group, Dr. Emeka Okwuosa, who commended IVM during the tour of the manufacturing plant in Nnewi, Anambra State, said that the visit was aimed at encouraging local content in the nation.
He said: “We are partnering with IVM on vehicles that are going to be used in our oil and gas industry operations. We are partnering with IVM in the area of conceptualisation, manufacturing and use of local automobiles.”
The Oilserv chairman, who noted that the company is a testimony to the development of local capacity in Nigeria, added that since the second quarter of 2020, it has procured ₦600 million worth of automobiles from IVM.
In his remarks, Chief Innocent Chukwuma, Chairman/CEO, IVM, lauded Oilserv management for its support towards promoting local capacity, while urging other companies and individuals to do same.
Chukwuma said that IVM sources about 60 per cent of its materials in-country, adding that it remains an 100 per cent manufacturing company and not an assembling outfit.
According to him, “IVM only imports engine and light while all the electrical aspects and other equipment are sourced in-country.”
Commenting on the partnership, Chukwuma Nkwodinmah, Group Head, Supply Chain, Oilserv Limited said that the partnership has gone a long way in promoting local capacity.