Innoson Group, a Nigerian vehicle manufacturing company, has bagged the 2012 African Business of the Year Award.
The award, an initiative of the African Business Magazine and the Commonwealth Business Council is in recognition of the group’s success in Nigeria and Africa.
Chairman of the Group, Innocent Chukwuma, who received the award on behalf of the organisation las Friday in London, said the company was committed to the industrial growth of Nigeria.
“We have also keyed into the federal government’s agenda to develop vital sectors of the economy to make Nigeria one of the top economies by 2020,’’ he said.
Galib Virani of Afren International, an upstream oil and gas company, noted that the company’s industrial record was not only outstanding but heart-warming.
He said that the company did not only represent the best in Nigeria but also a champion in Africa.
“It is a thing of pride to have such a high profile group in the African continent,” Virani said.
Six distinguished business experts including Jean-Louis Ekra, Runa Alam, Amadou Ba, Barbara James, Sir Samuel Jonah and Tim Turner formed the panel.
The panel was constituted by the Commonwealth Business Council and African Business which recommended the group for the award.
Some of the criteria included the group’s business leadership skills and the ability to overcome tough hurdles in a hostile business environment like Nigeria.
The team also considered the group’s rise into auto parts engineering, assemblage and manufacturing of automobiles in Nigeria.
The company was nominated for the award by Nigeria’s Bank of Industry (BOI).