Sterling Bank has partnered indigenous auto manufacturer, Innoson motors in offering auto finance to prospective customers willing to acquire any brand of innoson vehicles.
The Bank’s Executive Director, Finance & Strategy, Abubakar Suleiman said; “The country’s dependence on oil exports for foreign exchange and the global oil sector downturn driven by the falling oil price has led to near economic recession in the country and has negatively impacted other sectors with prices of imported products rising significantly.
ALSO SEE: Innoson set to unveil affordable cars
“For the country to navigate the current headwinds there is an urgent need to diversify the economy and empower the manufacturing sector of the country. But local manufacturers will not thrive if they are not patronized by Nigerians. This is why we have entered this partnership with Innoson.”
Innoson Vehicle Manufacturing Company (IVM) is the premiere private vehicle manufacturing company in Nigeria. The indigenous company, headquartered in Nnewi, Anambra State, was commissioned in 2014 and has since gone on to produce several ranges of vehicles from Trucks, SUVs to mini-buses.