Forte Oil Invests N5Bn on New Product Delivery Trucks

Forte Oil Nigeria has unveiled plans to invest about N5 billion on new product delivery trucks to sustain operational efficiency and attain exceptional product throughput in its oil marketing business.

The indigenous oil marketing firm disclosed this while rolling out the first phase of 100 trucks in Lagos on Monday.

Akin Akinfemiwa, group chief executive officer, Forte Oil Plc, said: “We are very confident that the acquisition of these 100 world-class product delivery trucks is a very strategic investment that will substantially increase our capacity”.

Basically, the Mercedes Benz vehicles purchase, financed through equity and debt provided by Heritage Bank, is a significant addition to the over 1000 existing trucks its fleet operations as the company takes an audacious step toward an unrivalled market dominance in the Nigerian downstream sector.

He noted that the plan will also grow our revenue, profitability and ultimately maximize value for our shareholders as we move towards our mission of building a long-term successful company; boosting investor confidence by making Forte Oil Plc, the investment of choice in Nigeria and globally.

Akinfemiwa added that the company was able to identify that effective and logistics is the key to customer’s service delivery, hence the need for the new delivery vehicles.

He however, noted that competent operators have been appointed and tested in the industry with the adequate training and with knowledge on safety on life and of the trucks.

Commenting, Tunji Rabiu, head Business Operations, said: “As a distribution and marketing Company, we believe our customers deserve superior service delivery, which remains our major focus, in addition to operational efficiency. We’re changing the landscape by taking this giant step of investing in large scale trucks acquisition and as such set a new standard for product distribution in our industry”.