December 3, 2014
THE Stallion Group was honoured on Monday by President Dr Goodluck Jonathan as one of the country’s top companies that contribute immensely to the economic development.
The maiden edtion of “Top 100 Business” listing, was a brainchild of the Presidency.
Stallion was ranked within the top 15 companies and was one of the only two high ranked conglomerates along with the Dangote Group and listed amongst the highest ranked companies in Nigeria that included Exxon Mobil, Shell, Chevron, TotalEni Agip/Saipem and CNOOC Oil. Others included MTN, Zenith Bank and First Bank.
The award presentation ceremony, held in Abuja on Monday, is aimed at encouraging highly performing companies to further contribute to the economy in more significant ways.
Essentially, the award took into account the amount of taxes paid, the employment generated, corporate social responsibility and turnover.
President Jonathan, in his address at the dinner for recipients, said “the companies are the frontiers of our economy and will help the country achieve the Top 10 economy in the world status.”
Minister of Industry, Trade and Investment, Olusegun Aganga said: “The top 100 companies account for 20 per cent of Nigeria $510 million Gross Domestic Product (GDP).”
Aganga added that the country adopted similar criteria as Fortune 500 in the US, in selecting the top businesses, which he said, makes it very objective and verifiable, as “we want to make it absolutely clear that it has integrity,”
He expressed pride at the achievement of the selected companies, as it is investors that create jobs, wealth, facilitate economic growth and generate income for the government.
Promoted by multi billionaire Sunil Vaswani, Stallion is a multi business conglomerate with a 45-year history in Nigeria and presence in 18 countries engaged in commodities, industries, automobile assembly,agriculture,mining,steel,plastics,petrochemicals,packaging,IT/automation, real estate, shipping and banking.