Aliko Dangote Explains Why He Invested in Vehicles
The chairman of Dangote Industries Limited, Aliko Dangote, has revealed the real owners of his recently launched project, Dangote Sinotruk West Africa, a fully knocked down CKD truck assembly plant recently opened in Lagos.
Dangote’s choice to engage in truck assembly is a response to the need for automobiles. Photo Credit: Dangote Group Source: UGC As a joint venture with a total investment of over $100 million, he stated that Dangote Industries owns 60% of the plant, Sinotruk China owns 30%, and Anders owns 5% while giving a speech at the plant’s inauguration.
The billionaire said, “Our aim is to meet the expected current demand of this segment of automobiles required for logistics, construction, food, and beverages industries in Nigeria,” “I am sure we are going to fully participate in the new CNG, which I think the government is driving. But we in Dangote, we are actually committed to buy 10,000 of the CNG trucks.”
The move comes after President Bola Tinubu’s recent directive to the federal government ministers, departments and agencies to start purchasing compressed natural gas power vehicles.
