Peugeot Automobiles has announced its intention to return to Nigeria next year for full commercial operations.
Peugeot’s Executive Vice President for Africa and the Middle-East, Mr. Jean-Christophe Quemard said this in Abuja on Thursday during a courtesy visit to President Muhammadu Buhari at the Aso Rock Presidential Villa.
Buhari assured the company of the commitment of his administration to the privatization and commercialization policy.
He however said that special consideration would be given to companies with the requisite technical and managerial competence in the privatization of government-owned companies.
”Higher premium will be placed on the technical competence and financial clout of bidders in future privatisation exercises to avoid the running aground of privatised companies by ill-equipped and incapable investors," he said.
He added that “privatization can only succeed and yield desired benefits if buyers of government-owned companies possess essential skills and resources.”
Assuring the President that Peugeot was ready to reinvest in vehicle assembly in Nigeria, Mr Quemard said that the company had outlined a three-phased plan to resume vehicle assembly first with 4,000 cars, rising up to 10,000 cars by 2021.
He however called for the appropriate policies from the government.
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