Home » Nigerian tycoon Taiwo Afolabi’s Sifax Group expands fleet, acquires 13 trucks

Nigerian tycoon Taiwo Afolabi’s Sifax Group expands fleet, acquires 13 trucks

by Mfonobong Nsehe
Taiwo Afolabi

Sifax Group, a diversified conglomerate led by Nigerian logistics tycoon Taiwo Afolabi, has made a substantial investment by acquiring 13 new trucks, bolstering the company’s operational capabilities.

This strategic move elevates the group’s fleet to a total of 114 vehicles and is poised to augment its market presence and competitive edge in the domain of long-distance and interstate deliveries.

The newly acquired trucks are a fleet of 33-tonne 6×4 MAN diesel vehicles equipped with a formidable 400 horsepower. These additions signify Sifax Group’s steadfast commitment to expanding its market share and cementing its position as a key player in the logistics and haulage sectors.

Taiwo Afolabi, the Chairman of Sifax Group, expressed his views on this expansion, highlighting the company’s resilience in investing during economic downturns.

He stated: “While many businesses might be hesitant to invest in the current economic climate, certain sectors such as production and goods transportation consistently require haulage services, even in challenging times. Our decision to enhance our fleet through the procurement of these trucks stems from our recognition of the immense potential within the industry.”

Afolabi further shared his optimism about the nation’s economic prospects, asserting that the company’s investments would yield substantial dividends once the economy rebounds.

He emphasized the heightened interest from existing and prospective clients, underscoring the company’s reputation for reliability and efficiency developed over years of operation. “The escalating demand necessitates a larger fleet to cater to our clients’ needs,” he added.

Established in 1988 by Afolabi, a prominent Nigerian lawyer and logistics entrepreneur, Sifax Group has evolved into a leading conglomerate with diversified interests in aviation, oil and gas, maritime, haulage, logistics, and hospitality. This recent foray into the energy sector echoes the company’s overarching expansion strategy.

Afolabi’s extensive experience, prudent organizational practices, and astute business acumen have been pivotal in steering Sifax Group’s growth trajectory. The conglomerate has emerged as a significant contributor to the Nigerian economy and a crucial source of direct and indirect employment for numerous qualified Nigerian professionals.

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