Dangote explains why he invested in vehicles, competes with Innoson as he names owner of plant

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.

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.

Senate President Godswill Akpabio and Lagos State Governor Babajide Sanwo-Olu were present at the June 9 opening ceremony.

Why Dangote invested in trucks

According to Dangote in a The Cable report, the company's choice to engage in truck assembly is a response to the need for automobiles in Nigeria's construction, food, beverage, and logistics sectors.

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 buying 10,000 of the CNG trucks.”

Lagos to purchase 100 trucks During his speech, Sanwo-Olu stated that because of the local automaker's dependability, his administration intends to purchase an extra 100 compactor trucks.

The governor said, “We have seen the benefit of what they are doing here. We have procured from them compactor trucks that were seen on the road in Lagos.”

“We have also publicly made another order for 100 trucks of the compactors because we found that they are reliable.”

Also speaking, Akpabio commended the Lagos state governor and Dangote for their efforts in creating jobs for Nigerians and reducing crime in Lagos.

Akpabio said, “I am sure even the president of the country will be glad to receive reports from us on what is going on in Lagos, and how you and the governor of Lagos are collaborating together with the federal government to take children off the streets, off criminality, into employment”

Hikmat Thapa, the group’s general manager for projects, said they are handling welding, painting, and major jobs within the plant, adding that their capacity will increase to 30,000 trucks annually with the launch of the plant.