The Dangote Group says the truck involved in an accident that occurred on Friday along the Lagos-Ibadan expressway does not belong to the company.
Seventeen persons were feared dead following a fire outbreak after a collision involving the truck and a bus.
In a statement on Friday, the Dangote Group said the truck, which was said to bear the logo, ‘Dangote Flour’, does not belong to its company as Dangote Flour Mills was acquired by Olam International in 2019.
Olam International has Crown Flour Mills Ltd as its subsidiary.
“Our attention has been drawn to some online media reports that a truck conveying petroleum product, which was involved in a fatal crash that claimed several lives, belongs to Dangote Flour,” the statement reads.
“The truck bearing the logo of Dangote Flour was said to have been involved in an accident in Ogun State.
“However, contrary to a report by the Federal Road Safety Commission, the said truck does not belong to the Dangote Group.
“It should be noted that Olam International Ltd, makers of Crown Flour products, acquired Dangote Flour in 2019 in a widely publicised deal. The company now fully belongs to Olam.
“The loss of lives in this instance is regrettable and saddening. The public is advised to take note of this clarification.”
In April 2019, Olam made an offer of N130 billion to acquire all shares of Dangote Flour Mills that it didn’t already own through its subsidiary, Crown Flour Mills.
The offer was later reduced by N10 billion, after which the acquisition was finalised in November 2019.
