By Levinus Nwabughiogu

ABUJA – President Muhammadu Buhari has
reiterated the commitment of his administration
to privatisation and commercialisation policy.
This was even as Peugeot Automobiles Nigeria
Limited announced that it would return next
year for full commercial operations.

President Buhari spoke when he gave audience
to Peugeot’s Executive Vice President for Africa
and the Middle-East, Mr. Jean-Christophe
Quemard at a courtesy visit at the presidential
Villa in Abuja yesterday.

President Buhari however stated that greater
consideration would be accorded to the
technical and managerial competence of
prospective buyers of government-owned
companies.

A statement by the President’s Senior Special
Assistant on Media and Publicity, Mallam Garba
Shehu stated that in the privatisation policy ”
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.”

The president noted that “privatization could
only succeed and yield desired benefits if
buyers of government-owned companies
possess essential skills and resources.”

Speaking earlier, Mr. Quemard assured the
President that Peugeot was ready to reinvest in
vehicle assembly in Nigeria.

He 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 asked for appropriate policies and
actions from the federal government.
According to him, the action will dovetail into
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.

It will be recalled that Peugeot Automobiles
Nigeria Limited was privatized some years ago.
It 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).



http://www.vanguardngr.com/2015/11/buhari-assures-on-privatisation-as-peugeot-returns-to-nigeria/

Just taking glory of another...


Watching u with 3D

hmm