SIFAX Logistics Acquires 13 New Trucks to Boost Capacity
SIFAX Logistics

SIFAX Logistics Acquires 13 New Trucks to Boost Capacity

SIFAX Logistics Company Ltd., the haulage subsidiary of SIFAX Group, has boosted its operations with the acquisition of 13 brand new trucks. Mr Adewale Adetayo, General Manager, SIFAX Logistics Company Ltd., said this in a statement on Friday in Lagos.

He said the trucks, 33 tons 6×4 MAN diesel vehicles with 400 horsepower, would help the company increase its market share and competitiveness in long-distance and interstate deliveries for Nigerian citizens.

According to him, the acquisition brings the trucks in the company’s fleet to 114. Adetayo said the truck additions became necessary due to the upsurge in demand for the company’s haulage services across the country.

“In order to maintain our market dominance and expansion to various new routes within the country, management decided to embark on the purchase of these new trucks.

“Our target is to expand rapidly and we have mapped out a strategic plan to acquire 200 new trucks before the end of the 2024 business year.

“This will be done in phases and we have started with 13 for now. We hope to buy another 20 in the next phase of our acquisition plan,” he said.

On the brand of trucks, Adetayo said the company settled for the MAN diesel brand and German product, because of its high rating in the logistics ecosystem, durability, load-bearing capability, driving stability and adaptability.

Commenting, Dr Taiwo Afolabi, the Chairman of SIFAX Group, said the company had always braved the odds to invest more in the Nigerian economy during downtimes.

“We are aware many businesses are not favourably disposed to investing at this moment due to the prevailing economic reality but not ours.

“The reality is that some economic activities like production and movement of goods will always demand haulage services even in challenging times.

“We are scaling up through the acquisition of these trucks because of the huge potential in the industry,” Afolabi said.

Afolabi said the “economic outlook of Nigeria is looking bright and we know that once the economy bounces back, we will reap the rewards of our investments.”

According to him, many businesses, both existing and potential clients, continue to reach out to them due to the credibility and efficiency they have achieved over the years. “For us to meet these demands and agreements, we need a larger fleet,” Afolabi said Nigerian Treasury Bills Yield Rises to 7%