Founded in 1972 amidst a lot of fanfare, Peugeot Automobile Nigeria was a joint venture between the French car manufacturer and the Nigerian government. Its assembly plant located in Kaduna has produced 404, 504, 505, 306, 406, 307 and 301 vehicles but of late, the company has struggled due to falling demand.
Speaking yesterday at the ongoing 37th Kaduna International Trade Fair, Kaduna State governor Nasir El-Rufai said that they are putting together a consortium to take over the company. Other state governments who will join the bid include those of Katsina, Kebbi and Jigawa.
According to Governor El-Rufai, a proposal to acquire the majority shares of the company had already been submitted to Assets Management Company of Nigeria. He added that the move is part of efforts to revive ailing industries in the state to provide employment opportunities to the teeming unemployed youths in the region and Kaduna State in particular.
He said that Peugeot Automobile Nigeria is a critical partner in Kaduna State's industrial history but of late production had fallen, as it now only produces 200 cars a year compared with 90,000 cars per annum at its zenith. Over the last 30 years, the Kaduna assembly plant has produced 425,000 504 cars alone.
Governor El-Rufai added: “Our hope is that when we acquire the majority share of the company, we will restructure it to operate to full capacity of assembling between 90,000 and 100,000 cars yearly. We have the support of Peugeot Automobile Nigeria as well as the government of France in this drive.
“We are determined to bring back all industries related to Peugeot established in Kaduna as part of plans to ensure that every youth in Kaduna State has something doing. Kaduna State government is committed to the revival of not only the textile industries but the entire cotton, textile and garment value chain in the state in our development strategy.”
According to the governor, his administration had created more than 120,000 jobs in nine months but is determined to work harder considering the number of unemployed youths in the state. He said that Kaduna used to be the Manchester of Nigeria because of the concentration of textile industries in the state.
Governor El-Rufai also said that as part of effort to revive the agricultural sector, the state government would soon enter an agreement with a company to enable the state become a poultry hub in sub-Saharan Africa.
On mining, the governor said that artisan miners would be organised into cooperatives to streamline all mining activities in the state to tackle illegal mining. He commended the organisers of the trade fair, the Kaduna Chambers of Commerce, Mines, Industries and Agriculture, for bringing captain of commerce and industries to the state.
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