NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Buhari unfolds privatisation policy

By News Express on 19/11/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,323


President Muhammadu Buhari today in Abuja reaffirmed his administration’s commitment to the Federal Government’s privatisation and commercialisation policy. He did this during at an audience with Peugeot’s Executive Vice President for Africa and the Middle-East, Mr. Jean-Christophe Quemard, wholed a Peugeot delegation to the Presidential Villa.

Unfolding his administration’s policy on privatisation, President Buhari said that greater consideration will now be given to the technical and managerial competence of prospective buyers of government-owned companies.

He 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 privatised companies by ill-equipped and incapable investors.

Buhari, who spoke after being briefed on plans by Peugeot to stage a comeback to Nigeria after the collapse of the privatisation of Peugeot Automobiles Nigeria Limited, noted that privatisation could only succeed and yield desired benefits if buyers of government-owned companies possess essential skills and resources.

Mr. Quemard had assured President Buhari that Peugeot is ready to reinvest in vehicle assembly in Nigeria, provided that the right indigenous partners are found.

The Peugeot Chief Executive for Africa and the Middle-East briefed the President on the company’s three-phased plan to resume vehicle assembly in Nigeria with 4,000 cars next year, rising up to 10,000 cars by 2021.

He said that the plan, which he urged the Federal Government to support with appropriate policies and actions, will entail higher local content in the assembly of Peugeot cars in Nigeria and the exportation of locally assembled Peugeot cars from Nigeria to neighbouring African countries.

Peugeot Automobiles Nigeria Limited which was privatised 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).

•State House Photo shows, R-L; President Muhammadu Buhari, Executive Vice President - Middle East and Africa, Mr. Jean-Christophe Quemard, Managing Director Pan Nigeria, Mallam Ibrahim Boyi, and Minister of Trade and Investment, Okechukwu Enelamah, after the inspection of some latest Brand of Peugeot car by President at the state House in Abuja.

Source News Express

Posted 19/11/2015 7:19:35 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
PDP won’t die — Umahi

Senator Wakili’s death ‘an incalculable loss to Nigeria’s...

Presidential Election Official Result: BUHARI SWEEPS OSUN

Ugwuonye vs Ugwuonye: Ifesinachi weeps, pleads for forgiveness...

Umahi visits family of tortured teenager, orders her...

Power failure grounds flights at British airport

Borno Governor blows hot, declares support for insurgents...

Breaking News: NO BOKO HARAM ATTACK IN LAGOS,...

Dickson cries out as INEC, security agencies bungle...

Lagos moves against bureaucracy, complacency among civil servants...

Bishop crisis: Mbaise radicals threaten to pull out...

El-Rufai warns against inciting statements

 

Latest News Of Buhari, Abaribe and herdsmen’s killings Evans: 45 police officers bag special promotion 2019: Christian prayer warriors declare 30 days fasting to stop Buhari JOHESU strike: Two-day-old baby with spinal cord problem denied medication at UCH Angry soldiers on rampage in Benue over killing of colleague Senate summons IGP, DSS over invasion DBN gets $70 million support from EIB, AFDB Allow my son to succeed me, Queen Elizabeth pleads with Commonwealth leaders U.S. Embassy in Jerusalem opens May 14 Court throws out EFCC’s suit against Patience Jonathan “Your children will learn less, earn less in the future”, World Bank tells Nigeria, others Herdsmen kill 4 construction workers in Plateau

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (338,841 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (333,662 views) Shameless Genevieve Nnaji exposes breasts in public (266,998 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (219,425 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (201,608 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (197,491 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,289 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (154,673 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (146,629 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,302 views) Lagos plane crash: Journalist releases victims’ names (136,382 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,112 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,059) Business Verdict (40) Columnists (835) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (476) Features (568) Global Business Monitor (261) International (1,916) Interview (149) Live Commentary (28) Love Matters (116) News (34,593) Opinion (915) Pidgin (10) Politics (4,780) Religion (722) Sports (1,482) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Thugs invade Senate, snatch Mace

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement