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Peugeot’s Executive Vice President for Africa and the Middle-East, Mr. Jean-Christophe Quemard, Thursday in Abuja, said his company had perfected plans to return to Nigeria following the collapse of the privatisation of Peugeot Automobiles Nigeria Limited.
He disclosed this when he met with President Muhammadu Buhari to inform him that Peugeot was ready to reinvest in vehicle assembly in Nigeria, provided that the right indigenous partners are found.
During the meeting, he unveiled his company’s three-phased plan to resume vehicle assembly in Nigeria with 4,000 cars next year, rising up to 10,000 cars by 2021.
He said that the plan, which he urged the Federal Government to support with appropriate policies and actions, will entail higher local content in the assembly of Peugeot cars in Nigeria and the exportation of locally assembled Peugeot cars from Nigeria to neighbouring African countries.
Peugeot Automobiles Nigeria Limited which was privatized some years ago has technically reverted to government ownership with up to 85 per cent of its shares now held by the Federal Government and the Assets Management Corporation of Nigeria (AMCON).
