Friday 20 January 2017
Dangote’s entry into auto production commended by experts
AN automobile communication specialist, Dr. Oscar Odiboh has described the entry of Dangote Group into the automobile manufacturing sector in Nigeria as a step towards the birthing of truly Nigeria vehicle brand.
SinoTruck
Dr. Odiboh, who spoke to Vanguard Motoring yesterday said: “I see Dangote’s investment as a step towards the birthing of a truly Nigerian car, brand of trucks and ultimately a truly Nigerian brand of vehicle. It is a pointer to the fact that it is only the private sector that can truly drive the auto industry.”
This is a kind of thing we have been asking for. For Nigeria investors to come to the auto industry. The government has done its best, but its best is not good enough. The potentials has not be tapped. We have chronic challenges in transportation. And appropriate investment in the sector will help to notify most of the key challenges in the sector.
Welcome development
The move by Dangote is a welcome development, commendable and is instructive for other wealthy Nigerians to come into the industry instead of waiting for foreign investors.
For too long the sector has been dominated by foreign investors this is not good for our development since the auto industry is very key to our development, we should encourage people like Dangote to invest.
It should be recalled that Foremost entrepreneur, Aliko Dangote, has taken advantage of the ongoing scarcity of Foreign Exchange (FOREX) in Nigeria to establish multi-million dollar truck assembly plant in Lagos State. The project is expected to generate 3,000 jobs.
According to Dangote, the plant will be churning out heavy duty trucks on which his conglomerate, the Dangote Group spends huge amount on its importation to distribute it’s products both locally and cross African countries.
Explaining further, the Group said: “There will be room for the expansion of the project in years to come as it meets the national truck demand, it would explore exportation to neighbouring countries to generate foreign exchange for the nation”.
Under the arrangement, Dangote is partnering a leading Chinese Company, National Heavy Duty Truck Group Company Limited, SINOTRUCK to produce several thousand of trucks used mainly for haulage business from its newly promoted assembly plant at Ikeja, Lagos.
The Group explained that the decision to go into the truck assembly plant project was informed by the need to conserve forex in view of the current economic recession that is facing the country.
The deal which worth $100 million which is expected to have an assembly plant that will produce 10,000 trucks per year was signed in May 2014 in China, making it the eighth of Shandong, China (SINOTRUK), to be built abroad.
According to the deal agreement, the plant is 60% owned by Dangote Group, trading under Dangote Industries Limited, leaving SINOTRUK with the remaining 40% equity stake.
Consequently, Dangote Agro Sacks Limited, which occupied the Oba-Akran Ogba premises of the former Nigerian Textile Mills, until recently, has been relocated closer to the group’s major operational hubs, particularly the cement plants in Obajana, Kogi State and Ibeshe, Ogun State.
Assembly plant
The assembly plant is expected to generate employment for an estimated 3,000 workers, when fully operational.
Nigeria remains one of the most important markets for SINOTRUK, with Dangote Group operates the largest truck fleet in Africa with over 10, 000 trucks using them for the distribution of its products, like cement, sugar, flour and pasta, among others, even in its plants across the continent.
Chief Corporate Communication Officer of Dangote Group, Mr. Anthony Chiejina confirmed the project has taken off, adding that when fully operational, the nation would be spared huge amount of forex spent in the importation of the heavy duty vehicles.
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Nothing is Wrong if i choose to go on holidays- President Buhari
President Muhammadu Buhari departed Abuja for London, United Kingdom on a medical vacation, yesterday. He will return to the country on February 6, 2017.
The first was in June last year when he left the country to treat an ear infection and returned after spending 13 days.
A statement by the Presidential spokesman, Mr. Femi Adesina, said the President is going “on a short leave which is part of his annual vacation. During the vacation, the President will also undergo routine medical check-ups.”
Vanguard observed that the President had since the week been performing the functions of his office mostly at his official residence located within the precinct of the Presidential Villa, Abuja, rarely spending dutiful hours in the office.
For instance, it was at the residence that the President received Governor Ben Ayade of Cross River State, who visited the Presidential Villa about 1 p.m., on Tuesday.
Clutching a file, the governor was ushered into the president’s office.
Meeting his absence, Ayade was later taken to meet the President at his residence in a waiting SUV.
Since then, the President had not been seen performing outdoor duties.
The last he did was at the National Arcade, Abuja during the 2017 Armed Forces Remembrance Day celebration on Sunday.
Adesina’s statement added: “In line with Section 145 (1) of the 1999 Constitution (as amended), the President of the Senate, and Speaker, House of Representatives, have been duly communicated.”
While away, the Vice President, Professor Yemi Osinbajo, would perform the functions of the Office of the President.
Nothing is wrong with going on vacation —Buhari
Meanwhile, at the airport, yesterday, when the President was leaving the country, he said it was not unusual for a president to go on vacation.
Speaking to newsmen, he said: “What’s wrong with going on vacation? Didn’t I go last year at the same time?”
Buhari jets out ….
He’ll do routine medical checkups —Spokesman
Also speaking, his spokesman, Mr. Adesina, said President Buhari was going to rest and then do his routine medical check-ups, noting that there was no cause for alarm.
He said: “The president is going to rest. You know that God did work of creation for six days and on the seventh day He rested. So if God needed to rest, how much more human being.
“So the President is just going to rest and the statement we have released is straight forward. He will go on this leave and during the leave he will do routine medical checkups.
“We need to show goodwill towards our leaders, particularly President Buhari, who is working to give Nigeria a new footing, a new orientation.
“Nothing absolutely to worry about but a lot of goodwill, a lot prayers are necessary at all times.”
Also at the airport was the Chief of Defence Staff, CDS, Gen. Abayomi Olonisakin, who had a brief meeting with the president.
He later said the meeting was to update the president on the operations of Nigerian troops in the crisis infested The Gambia.
He said: “The meeting was to give Mr. President update on our operations within and outside the country especially our involvement with the ECOWAS standby force that are being inducted into Senegal which has to do with the issue of mandate ensuring that the president elect of The Gambia is sworn in.”
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