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Forte Oil acquires 100 trucks for downstream operation

By Businessnews Staff on September 12, 2014

Forte Oil Plc, one of Nigeria’s petroleum products retailers, has acquired 100 brand new product delivery trucks in line with its strategy to sustain operational efficiency and attain exceptional product throughput.

The acquisition, which was financed through equity and debt provided by Heritage Bank, is a significant addition to the over 1,000 existing trucks in its fleet.

This move, the firm said, was a step toward its market dominance in the country’s downstream sector. The 100 trucks were of the Mercedes Benz brand.

Commenting, the Group Chief Executive Officer, Forte Oil, Mr. Akin Akinfemiwa, said at the unveiling ceremony of the trucks in Lagos that, “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 to grow our revenue, profitability and ultimately maximise 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.

Also commenting, the Head Business Operations for the company, Mr. Tunji Rabiu, 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.”

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