The company stated this in a statement on Tuesday by an Executive Director, Alhajj Tajudeen Olalere.
The Company stated that there is no indebtedness of any sort by the Stallion Group to UBA as the only entity within the Stallion Group that had financing contract with UBA is Stallion Nigeria Limited.
An Executive Director of Stallion Group, Alhaji Tajudeen Olalere, offered the explanation in a statement on Tuesday.
The President heaped the praise on Stallion Group during his virtual commissioning of the trucks on Friday.
Anurag Shah, Nigeria’s General Manager for the brand, made the disclosure in a media statement on the acquisition.
The Hyundai Kona car, manufactured by Stallion Group, is 100 per cent electric and comes with zero emission, 482km driving range, and can be charged both at home and workplace.
It said Dangote Group is also finalising plans to locate a $5 million mill within the same location.
The Multi-brand Auto giant believes that a sizeable business will be brought in through digital initiatives as consumers are still skeptical of stepping into showrooms to scout for their car of dreams.
Stallion Empowerment Initiative, the philanthropic arm of Stallion Group, has pledged its support to the local governments of all states across Nigeria by committing to provide locally produced rice and fish to all the government-run hospitals dedicated to Coronavirus Disease for the next three months.
Not in their wildest dreams would children from orphanage homes think of visiting a top class cinema like SilverBird Galleria in Lagos to watch a movie, but this was made possible recently by Nissan-Stallion Group in collaboration with SilverBird Galleria.
The Governor stated this while receiving feedback from the Managing Director of Popular Rice Mill, a subsidiary of Stallion Group, Amit Rai, on the assessment of the land allotted to the company for a rice mill factory in the State.
The Hyundai Motors Nigeria Head of Sales and Marketing, Jatin Nadkarni, gave this hint in Lagos at a customer appreciation ceremony, remarking that the facility was fundamental to the harmonization of ideals and reassessment of the Hyundai brand
Stallion Group was accorded the honour for its investments and extensive activities in Nigeria’s aquaculture industry, aimed at increasing local production of fish and thereby making Nigeria self sufficient in the sector
The money has allegedly been outstanding since May 2014
Controversy has trailed the implementation of the import waiver policy by the Ministry of Agriculture that issued retrospective quotas in December 2014 when the country’s peak demand rice season was almost over
It established Nigeria’s first automotive assembly facility in partnership with Nissan as a pioneering initiative in April 2014, pursuant to the Federal Government’s announcement of the nation’s new automotive policy late in 2013
The Stallion Group in Nigeria has said it is not owing duties on rice imported into the country by its…
Stallion was ranked within the top 15 companies and was one the only two high ranked conglomerates along with the Dangote Group
Hyundai Motors Nigeria Limited, a division of Stallion Group, already represents Hyundai’s range of passenger and commercial vehicles in Nigeria and operates an ultra modern vehicle assembly plant in Lagos, Nigeria
The factory will also assemble military and defence products, including Ashok Leyland’s established models in this segment
The parties have signed a Memorandum of Understanding, which will result in Stallion, already Nissan’s exclusive distributor in Nigeria, increasing capacity at its existing plant, VON Automobile Limited, in Lagos