Come, are we sure we won’t just do and hand Dangote the key to the nation? Because he’s undoubtedly the richest man in Nigeria and one of the most powerful- and he’s just reminded us that that’s not changing any time soon.
Dangote Group of Companies in a statement on Sunday announced that it has established a $100 million truck assembly plant in Lagos, in partnership with National Heavy Duty Truck Group Company Limited, SINOTRUK, a Chinese firm.
The group said that this is part of its efforts toward boosting foreign exchange and job creation in the country.
The statement quoted Anthony Chiejina, the Chief Corporate Communication Officer, Dangote Group, as saying that the plant, located in Ikeja, has the capacity to produce 10,000 trucks annually and is expected to create 3,000 direct employments when fully operational.
Mr. Chiejina said the conglomerate owned 60 per cent stake in the assembly plant while SINOTRUK holds 40 per cent, in a partnership that was formed in 2014.
Mr. Chiejina said that, Dangote Group, operates the largest fleet in Africa, having over 10,000 trucks, so the new company would save the group and Nigeria huge foreign exchange being spent on importation of heavy duty vehicles.
According to him, there will be room for project expansion in future as it meets the national truck demand and will explore exportation to neighboring countries to generate foreign exchange for the nation.
Written by Okolo Ezinne