Investor pays N21bn, to acquire 45-yr old Peugeot plant

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A new core investor is set to take over the management of PAN Nigeria Limited (formerly Peugeot Automobile Nigeria Limited) in Kaduna by October 2020, after pay

This followed the sale of the plant to the investor by the Assets Management Corporation of Nigeria whose identity is yet to be revealed.Peugeot was conceived in 1969 by the then Federal Military Government under General Yakubu Gowon. Then, 16 vehicle manufacturing companies tendered to have a vehicle assembly plant in Nigeria.

 

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