In a  press statement on Sunday, the Head of Corporate Communications for Dangote Group, said that the plant was floated by the group in partnership with National Heavy Duty Truck Group Company Limited, (SINOTRUK), a Chinese company. The plant, which is located in Ikeja, has the capacity to produce 10,000 trucks annually. The Dangote Group owns 60% of the assembly plant, while SINOTRUK owns the remaining 40%.

Dangote Group has been spending millions of dollars on importing trucks to distribute its products both locally and across Africancountries. When fully operational, Chiejina says that Nigeria stands to save millions of dollars spent in the importation of heavy-duty vehicles. Dangote Group also plans to expand the project in future to meet the national truck demand and export to other African countries to generate foreign exchange for Nigeria.

SINOTRUCK, which is based in Jinan, Shandong Province, is a Chinese state-owned truck manufacturer, and one of the largest exporter of trucks in China.

Aliko Dangote’s net worth currently stands at $12.1 billion according to FORBES.

.Forbes