Showing posts with label Vehicles. Show all posts
Showing posts with label Vehicles. Show all posts

Wednesday, August 31, 2016

Innoson Motors stops production, sack of workers imminent due to Dollars scarcity


At a factory in southeast Nigeria, dozens of new white buses stand at the end of the production line, apparently ready to take on some of Africa’s toughest roads.

Unfortunately for Nigeria’s main domestic vehicle assembly firm, they are going nowhere for now.

In an economy starved of dollars because of the slump in oil prices, Innoson Vehicle Manufacturing (IVM) cannot buy imported components, leaving the buses without engines – a metaphor for the problems afflicting Africa’s most populous nation - Nigeria.