Dr. Innocent Chukwuma is the chairman, Innoson Group, a company with several active subsidiaries that are creating several jobs in the last 4 decades, thereby, contributing positively to the manufacturing sector, the overall economy and the nation’s Gross Domestic Product(GDP).
By a dint of hard work and passion, he creates a brand that can now outlives the founder having survived several micro and macro economic challenges in the last few in the country.
Biography
Innocent Chukwuma was born on 1st October 1961 into a humble family in Uru-Umdim, Nnewi, Anambra State. His father, Chukwuma Mojekwu was a junior civil servant while his mother, Martina Chukwuma was full housewife. He is the last of the six children, four boys, and two girls.
He had his primary and secondary education in his hometown, Uru-Umudim in Nnewi. After Innocent completed his secondary education in 1978, he dreamt of becoming an engineer. He applied to study Engineering at the university but couldn’t get in that year because he did not make the cut-off mark.
Before then, he was assisting his elder brother in his medicine store while he awaited the admission result. During this process, Innocent discovered that he has a natural talent for trading.
Startup Capital
When he didn’t meet the admission cut-off, he easily moved on since he has a flare for trade. His brother, Gabriel took him to Chief Romanus Eze Onwuka, popularly known as Rojenny where he served as an apprentice for a year.
His master, Chief Romanus Eze Onwuka is a motorcycle spare parts dealer and also the founder of the first private stadium in Nigeria, Rojenny Stadium in Oba near Onitsha.
Within a year of his apprenticeship, he mastered the act of buying and selling of motorcycle parts, and later returned to his brother, Gabriel.
At this time, his brother has registered Gabros International to trade in motorcycle parts and gave Innocent the sum of N3,000 to start the business. With free hand to run the new venture, Innocent rented a shop and bought the first goods.
A year later, innocent and his brother took stock of both the medicine store and motorcycle parts business. They found out that Gabros International was generating 10 times more income than the medicine store.
In 1981, Innocent Chukwuma departed from his brother and started trading in Honda motorcycle parts. Armed with his savings and the cash his brother gave him, he began trading under the name Innoson Nigeria Limited. As time progressed, he started importing motorcycles.
Secret Of Success
He realised that people were buying secondhand motorcycles because the new ones were expensive. The new motorcycles were expensive because they were imported assembled and a 40ft container could only take 40 motorcycles which imparted the cost of the motorcycle.
Innocent Chukwuma sort ways to cut down the cost of imported new motorcycles so Nigerians can afford new motorcycles. This he did by importing the motorcycles disassembled so more motorcycles can fit into the container and getting them assembled here in Nigeria.
With this new idea, he was able to import 200 units of motorcycle in the same 40ft container and reassembled them upon their arrival in Nigeria. This gave him the edge to sell cheaper than his competitors at the rate of N60,000 to 80,000 instead of N150,000.
According to him, “…I looked at a motorcycle and realised that there is a lot of plastic on the body. So, I set up a plastic factory. I decided to produce all the plastic components in my factories so that more units of the spare parts can go into a container.”
Today, his plastic factory is one of the largest manufacturer of crash helmets in West Africa and also the largest manufacturer of plastic products in Nigeria. Similarly, he said, he noticed everyone was involved in motorcycle business including the Indians in Nigeria. And also, the state governments started banning commercial motorcycles due to involvement of Okada riders in heinous crimes and high fatalities. So, he decided to go into manufacturing of motors.