Aliko Dangote, Africa’s richest man, is teaming up with the Bank of Industry (BoI) and the Kaduna and Kebbi state governments to acquire majority stake in Peugeot Automobile Nigeria (PAN) Limited.
This disclosure was made by Nasir el-Rufai, governor of Kaduna state, at the launch of the Bank of Industry youth empowerment scheme (YES).
“We have submitted bids for the car maker … with Aliko Dangote on board together with BoI, Kebbi and Kaduna state; we are confident our bid will sail through,” he was quoted by Reuters to have said.
Peugeot is a local joint venture with the French automaker, with a long history in Nigeria, the anticipated hub of automotive assembling on the Africa continent.
El-Rufai said that Kaduna and Kebbi, along with development lender Bank of Industry (BoI) and Dangote, had submitted bids for the stake which AMCON is looking to sell.
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