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Dangote, Kaduna, Kebbi in joint bid for Peugeot Nigeria

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Dangote's kite on NLNG

El-Rufai, governor of Kaduna state said Thursday that Aliko Dangote, has teamed up with his administration and that of Kebbi state to bid for a majority stake in Peugeot Automobile Nigeria (PAN) Limited. PAN is a local joint venture with the French automaker.

Governor Nasir El-Rufai said the states of Kaduna and Kebbi, along with development lender Bank of Industry (BoI) and Dangote had submitted bids for the stake which AMCON, Nigeria’s state-backed “bad bank”, is looking to sell.

“We have submitted bids for the carmaker … with Aliko Dangote on board together with BoI, Kebbi and Kaduna State, we are confident our bid will sail through,” El-Rufai told a conference.

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El-Rufai did not provide further details. Bids for AMCON’s stake closed on Jan. 26.
PAN, the Nigerian assembly plant located in Kaduna State, has Peugeot Citroen PEUP.PA as its technical partner with a capacity to assemble 240 cars a day, PAN said on its website.
The billionaire tycoon’s Dangote Group is active in cement, oil, food and sugar business, and is also expanding into farming.

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