Peugeot Automobile Nigeria (PAN) has concluded plans to launch a cross over version of 3008 SUV in January.
PAN Managing Director, Mr. Ibrahim Boyi disclosed this in a welcome remarks, when the Senate Committee on Privatization visited the company in Kaduna on Monday.
He told the visitors that as a result of the company’s management’s efforts, the company since 2016 has stopped running at a loss, attributing it to the passage of the auto policy by the Senate.
“From 2016, we’ve turned around the fortunes of the company. Operationally we are profitable.
“The auto policy after announcement in 2013, has increased market value of PAN,” he,” he said.
He explained that the auto industry is a very important segment for every country, because of its huge potentials for creating jobs.
On the need to further strengthen local production, he said that though it was not easy, the company remains standing.
“PAN survived while its contemporaries did not and made major progress. At peak, the company produced 90,000 vehicles annually. Employed 4,000 workers directly then, empowering 7,000 people through multiplying effect,” he said.
He stressed that no nation leaves it auto policy unguided or unregulated, not even America that promotes liberalization.
He recalled that PAN was incorporated in 1972. Privatized in 2006, and ASD Motors took over in 2007, while in 2012, AMCON took over and has been managing the company since then.
He said that AMCON owns 80% of shares presently and apart from ASD who owns 5% others shateholders own below that.
“The Pan Learning Centre (PLC) is one of the foremost training centres in automobile technology in Nigeria. It is accredited by several regulatory bodies like National Board For Technical Education (NBTE) and City and Guilds,” he told the visitors.
Boyi explained that right now, they have the only plant today in Nigeria that can do full Demi Kock Down (SKD) and Complete Knock Down (CKD), which gives them advantage.
On why their vehicles save the owners more money, he explained that “PAN vehicles come today with loaded advantages of fuel efficiency and servicing after 10,000 kilometres, making low ownership costs of maintenance.”
He further said that as part of its corporate social responsibility, they have social programmes used to empower youth, under the scheme of Shade Tree Youth Empowerment Initiative.
On challenges the company is facing, he said delivery of kits from the ports takes too long.
“Railway unfortunately is still unreliable. Roads are bad, it takes three weeks to deliver kits from ports. If we were new investors, we would have considered siting our plant where such things won’t affect us. We lose when we can’t meet up with customers,” he said.
He commended chairman of the committee, Senator Ben Murray-Bruce for being a die-hard promoter of made in Nigerian goods.
