Directors

 

 

 

Peugeot Automobile Nigeria (PAN) is in the business of providing quality vehicles and spare parts to the market through local assemblage and importation of CBUs. The Company’s assembly plant is situated on a total surface area of 330,000 square meters with a free area of 177,200 square meters. The plant has the capacity to assemble 264 cars per day and provide a wide range of cars to the market.

Being Nigeria’s largest car plant, PAN stands to benefit greatly from Nigeria’s fast growing consumer market and access to regional markets. In order to ensure full coverage of this potential market, the company is focusing on serving and dominating the Nigerian and West African markets in the short to medium term.

 

 

 

 

 

 

 

The initiative to establish an automobile manufacturing plant in Nigeria was taken in 1969 by the then Federal Military Government under the leadership of General Yakubu Gowon when it invited 16 reputable vehicle-manufacturing companies to tender their proposals for the establishment of a vehicle assembly plant in the country. Twelve years before the initiative was taken, Peugeot cars made their first entry into Nigeria when individuals imported about 100 units of the Peugeot 403 model into the country. These cars soon became popular due to their legendary reliability and suitability to Nigerian road conditions. The demand for Peugeot cars in Nigeria rose again in the 1960’s with the further introduction of the Peugeot 404 model. With the high acceptability and demand of Peugeot vehicles, the proposal of Automobile Peugeot of France (AP France) was selected in May 7, 1971 out of the 16 tendered by various vehicle manufacturers.

Peugeot Automobile Nigeria Limited (PAN), a joint venture between the Federal Government and AP France, was incorporated a year later in December 15, 1972 as a limited liability company with an authorized share capital of three million Naira. PAN’S Kaduna-based assembly plant was commissioned by General Yakubu Gowan 27 months after incorporation on March 14, 1975, and full operations commenced on March 2, 1975.

After incorporation, PAN commenced production two years later with an annual output of 60,000 cars. In the 1980s, the company’s production output improved substantially to 90,000 cars per annum and it had more than 4000 staff on its payroll. Its role in the industrial sector was one of significance due to its heavy reliance on local suppliers, with 70 local firms providing 37% of content for domestic production.

In December 2006, ASD Motors Limited, Peugeot’s largest dealership in Nigeria, completed its acquisition of a 54.87 % stake in PAN under the Federal Government’s privatization policy. ASD acquired 30% of Automobile Peugeot France’s 40% stake and 24.87% of the Nigerian government’s 34.87 % share, becoming the firm’s new core investor.