NEWS
Lagos Orders Additional 100 Trucks From Dangote’s Trucks Assembly Plant
. . . Akpabio Commissions new CKD Plant, Gov, Senators Hail Impactful Facility
The leadership of the Senate at the weekend unveiled the multi-million dollar world-class Dangote Sinotruk West Africa Ltd CKD Plant established by the business mogul, Aliko Dangote with a call on other eminent Nigerians to emulate him in using their wealth to benefit the country.
During the event, an excited Governor of Lagos State, Babajide Sanwo-Olu, announced his administration’s plan for the acquisition of extra 100 compactor trucks from the indigenous automobile manufacturer to enhance service delivery within the state metropolis.
Gov Sanwo-Olu emphasised that the products of Dangote Sinotruk are of world-standard, crafted with precision to meet customer satisfaction.
On his part, President/CE of the Dangote Industries Limited, Aliko Dangote, who conducted the leadership of the Upper Chamber and executive management of the company around the premises of the Dangote facility in Ikeja, Lagos, stated that the decision to invest in the truck assembly plant was part of his strategies to add value and reduce imports.
He added that the plant would be fabricating diverse types of trailers and tipper bodies with the goal of achieving domestic self-sufficiency and serving the West African regional market.
In his words, “We are playing a strategic and key role in developing the heavy-duty truck assembling and manufacturing industry in Nigeria. We are providing employment opportunities for Nigerians as well as improving the local automobile industry.
“We will continue to invest in the plant and achieve technological advancement for Nigeria. We will continue to promote Nigeria’s economic development.”
While appreciating the support of strategic stakeholders, including the National Assembly, Dangote pointed out that the Dangote Sinotruk West Africa Limited was set to write the next chapter in Nigeria’s industrialisation story as well as drive progress across West Africa for a brighter and more prosperous future.
Noting that the state had acquired 102 compactor trucks for its Waste Management Authority (LAWMA) in 2022, Gov Sanwo-Olu hailed Dangote for the remarkable transformation of the facility from a dormant textile mill to a thriving vehicle assembly plant.
“Honestly, this is about partnership. It is about a sense of purpose and the fact that as a people, we need to develop our economy and our environment better than we met it.
“Dangote Industries Limited is a testament to a good local business that has become a global name. It can compete with other brands globally. It is a brand that all Africans can be proud of.
“They have kept the vision of this place by ensuring that industry is created, people are employed, and young people are trained,” Gov Sanwo-Olu said.
He stressed that the state was open to business as the commercial hub of Nigeria, commending the Dangote Group for embracing CNG-powered vehicles, which he pointed out was cost-effective, while promoting cleaner energy.
Commissioning the plant, Senate President Godswill Akpabio, commended the proprietors, and stressed that ‘Dangote is Africa’s export to the world’.
He noted that the facility, which already created over 3,000 jobs across Nigeria, aligned with the renewed hope agenda of President Bola Tinubu to lift millions of Nigerians out of poverty.
Reiterating the senate leadership’s happiness with the facility, Sen Akpabio assured of the federal government’s support to Dangote’s drive to ensure Nigeria attains self-sufficiency in key sectors.
Calling on other investors to learn from Dangote, he also challenged other states to provide business-friendly environments for investors.
Dangote Sinotruk West Africa Limited, is a joint venture company with a total investment of $100 million, which boasts of cutting-edge facilities and machinery, enabling it to achieve a production capacity of 15-16 trucks per shift, or approximately 10,000 trucks annually.
However, the Chief Executive Officer of the facility, Hikmat Thapa, said the capacity would be scaled up to 13,000 trucks annually with the commissioning of the new CKD plant.
He also affirmed that the majority of the fabrication and assembly lines are being handled by trained Nigerians.
He stated that the vision of the plant is to assemble and produce a full range of commercial vehicles tailored to the specific needs of the market.
“From heavy-duty trucks to medium trucks, light trucks, and semi-trailers, our aim is to meet the growing demand for reliable transportation across various sectors, including logistics, construction, and food and beverage industries,” he added.
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.
Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.
The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.
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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.
He urged the committee to carry out its assignment thoroughly and within the bounds of the law.
In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.
“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.
“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”
The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.
“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”
He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.
“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.
The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.
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