Innoson Group Nigeria Limited, manufacturers of vehicles, motorcycles, plastics and other products have signed a partnership deal with a Chinese consortium led by Mr Liu Baoju who is the Chairman of the Shandong Broadcasting Group to invest 1 billion US dollars into Nigeria’s booming Information Technology sector.
The deal is for the manufacture of digital set-up boxes for Nigeria’s switch from Analog to Digital Communications, CCTV camera installation in the country and to build IT solutions for the Nigerian Federal Inland Revenue Service.
Innoson is the first indigenous automobile manufacturer in Nigeria producing saloon cars, buses, luxury buses and SUV’s and this partnership is an indication that the group has decided to divest into other sectors of the Nigerian economy. ThisDay states that the company plans to launch a Digital Satellite TV service in Nigeria very soon.
In a statement on behalf of Innoson group, Mr Cornel Osigwe, the Public Relations and Media Assistant of the Group said “This foreign investment is coming at a time when Nigeria is in dire need of foreign investors to boost the economy.”
This investment will create an estimated 5000+ jobs at the manufacturing plant for the digital setup boxes and 2000 more jobs at the planned Innoson satellite television company offices across the country.