• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Dangote and Peugeot to start assembling cars by Q1 2019

Emmanuel Abara Benson by Emmanuel Abara Benson
June 6, 2018
in Business News, Company News
Aliko Dangote, billionaires

Aliko Dangote, President, Dangote Group

Share on FacebookShare on TwitterShare on Linkedin

Come early next year, PSA Peugeot Citroen will commence the assembling of cars in Nigeria alongside its local partner, Dangote Group.

Dangote-Peugeot Automobile Nigeria Limited (DPAN), a joint venture of PSA Peugeot Citroen, Dangote Group and five state governments in Nigeria (including the Kaduna State Government) will see about 3,500 cars assembled in 2019.

Jimi Lawal, an advisor to the Kaduna State Governor confirmed to Reuters yesterday that the assembly plant will indeed commence operation between January and March 2019.

RelatedStories

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

June 13, 2025
Dangote announces plans to develop Nigeria’s largest port in Ogun

Dangote announces plans to develop Nigeria’s largest port in Ogun

March 17, 2025

“The first vehicle should come out by the first quarter of next year. We are hoping that the factory will be completed by December. The land has been identified … we have advertised for a contractor that will build the factory.” – Lawal

The assembling plant will be located in Kaduna, Northwestern Nigeria.

Nigeria has a huge auto market with its nearly 200 million population. Unfortunately, “limited bank financing and the absence of an industrial policy has stunted growth”, Reuters reports. Only a few new cars are sold, even as reliance is mainly on the importation of second-hand cars from Europe and the Americas.

Thanks to this partnership, Peugeot will locally assemble its trademark 301 Sedan in small volumes at the plant operated by DPAN. The company said the cars “will be produced from semi-assembled kits of parts shipped from Peugeot’s plant in Spain.”

There are also plans to begin the production of additional models such as 508 and 308 Compact, just as Peugeot hopes to increase production volumes to as much as 10,000 in coming years.

DPAN will commence operations with ₦3.5 billion equity and about $5 million-worth of working capital. There are plans to raise additional capital.

In the meantime, Dangote will own a majority stake in DPAN while Peugeot Citroen will own 10%. Peugeot will also operate the plant.

Recall that Dangote had in recent times, pledged ₦11 billion in a bid to acquire a majority stake in Peugeot Automobile Nigeria (PAN) from the Asset Management Company of Nigeria (AMCON), an exercise that remains unresolved till date. AMCON acquired a majority stake in PAN in 2012 after taking over the company’s debts worth about ₦30 billion owed to some Nigerian banks.

PAN was incorporated on December 15, 1972, as a limited liability company with an authorized share capital of N3 million. It commenced full operations on March 2, 1975. The company, however, ran into trouble barely two decades after commencing operations.


Follow us for Breaking News and Market Intelligence.
Tags: Alhaji Aliko DangoteAMCON NewsDangote-Peugeot Automobile NigeriaPeugeot Automobile Nigeria
Emmanuel Abara Benson

Emmanuel Abara Benson

Emmanuel Abara Benson is an experienced business reporter and editor. He currently edits articles at Nairametrics. Reach him via email on Emmanuel.abara@nairametrics.com and follow him on Twitter @Mr_Abara for his personal opinions.

Related Posts

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 
Financial Services

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

June 13, 2025
Dangote announces plans to develop Nigeria’s largest port in Ogun
Real Estate and Construction

Dangote announces plans to develop Nigeria’s largest port in Ogun

March 17, 2025
AMCON
Business News

AMCON struggles to recover N4 trillion debt in Nigeria, urges media to hold debtors accountable

March 15, 2025
Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court
Company News

Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court

February 12, 2025
EFCC, NOUN, Sunflower Hotel
Legal & Regulations

EFCC arraigns ex-AMCON MD, Ahmed Kuru, 4 others for N76bn, $31.5m fraud 

January 20, 2025
Court rules Canadian financier can repossess Arik Air aircraft under Cape Town Convention 
Aviation

AMCON vows to recover N227 billion debt from Arik Air amid liquidation plans 

January 18, 2025
Next Post
Deal: Mortgage Refinance Company closes N11 billion  series 2 Bond

Deal: Mortgage Refinance Company closes N11 billion series 2 Bond

Comments 2

  1. akinmail says:
    June 6, 2018 at 10:11 am

    #5 million working capital?

    Reply
    • Kenneth Glendinning says:
      June 23, 2018 at 11:51 pm

      5,000,000 United States Dollars
      USD $5m (Five Million)

      equates to

      1,799,000,000 Nigerian Naira
      NGN 1.8B (1.8 Billion)

      No be small money-oh.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  •  Africans will develop Africa, Dangote tells Global CEOs 
  • Seplat Energy says indigenous capacity, innovation, investor confidence boosting fortunes of energy Sector 
  • Petroleum Development Fund shortlists 5,746 Nigerians for foreign scholarship interviews

Follow us on social media:

Recent News

 Africans will develop Africa, Dangote tells Global CEOs 

 Africans will develop Africa, Dangote tells Global CEOs 

July 14, 2025
Seplat Energy says indigenous capacity, innovation, investor confidence boosting fortunes of energy Sector 

Seplat Energy says indigenous capacity, innovation, investor confidence boosting fortunes of energy Sector 

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics