Innoson Crashes High Prices of Tricycles (Keke), Goes Into Production

By Charles Igbo

Chief Innocent Chukwuma, the Chairman and Chief Executive Officer of Innoson Vehicle Manufacturing Company, is set to create more jobs in Nigeria by venturing into a new area

He has started the  manufacturing of Tricycles, popularly known as Keke. In  doing this, he has a main aim – crash the price of Tricycles which was first introduced into the Transportation system of Nigeria by the former Lagos State Military Adminustrator, Brigadier-General Mohammed Marwa rtd, who is, now, the Chairman/CEO of the National Drug Law Enforcement Agency, NDLEA.

Marwa, a Colonel then, introduced it to alleviate the pains the common man went through in Lagos, especially, routes where public buses did not ply.

But it has since become very popular across the nation as a means of tranportation. However, its price has continued to rise. From about N300,000 a piece, it’s gone up to N800,000 a piece.

In early 2022, while taking a group of Catholic Bishops on a tour of his Vehicle Manufacturing Company at Nnewi, Anambra State,  Chukwuma, whose Innoson Motor Vehicles, are gradually, taking over the automobile industry in Nigeria, had promised to   crash the price of tricycles once he started its manufacturing.

He has just fulfilled that promise with a new production line of Tricycles.

Tricycles currently sells for, about, N700,000. But those who buy it on “hire purchase”, pay as much as NN1.2 million for an agreed period.

It is expected that IVM Tricycles could sell  for  about N300,000, a piece only.