Presidency releases statement on ‘Made-In-Nigeria’ cars

See the press statement from the presidency on the ‘Made-In-Nigeria’ Peugeot cars.

President Buhari inspecting ‘Made-In-Nigeria’ Peugeot car

Two days ago, November 19th, Peugeot unveiled it's ‘Made-In-Nigeria’ cars.

However, this unveiling was done at the presidential villa, where the cars were taken for an inspection from His Excellency, Muhammed Buhari.

An official press statement from the presidency has been released on this, this is just an excerpt.

"President Thursday in Abuja reaffirmed his Administration's commitment to the Federal Government's privatisation and commercialisation policy. Speaking at an audience with Peugeot's Executive Vice President for Africa and the Middle-East, Mr. President stressed, however, that greater consideration will now be given to the technical and managerial competence of prospective buyers of government-owned companies.

"The President said that a higher premium will be placed on the technical competence and financial clout of bidders in future privatisation exercises to avoid the running aground of privatized companies by ill-equipped and incapable investors. President who spoke after being briefed on plans by Peugeot to stage a comeback to Nigeria after the collapse of the privatization of Peugeot Automobiles Nigeria Limited, noted that privatization could only succeed and yield desired benefits if buyers of government-owned companies possess essential skills and resources.

"Peugeot Automobiles Nigeria Limited which was privatized some years ago 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)."

It was signed by Garba Shehu, SSA to the President (Media & Publicity) on November 19, 2015.

Check them out in the gallery above.

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