Dangote Peugeot Automobiles Nigeria to unveil saloon cars during the first quarter of 2022

AFRICA'S richest man Alhaji Aliko Dangote is planning to get his new automobile assembly plant fully up and running in 2022 with an ambitious programme to roll out a new set of assembled cars during the first quarter of the year.

Known as Dangote Peugeot Automobiles Nigeria (DPAN), the new company was given birth to five years ago after Alhaji Dangote toyed with the idea of buying the assets of the defunct Peugeot Automobile of Nigeria (Pan). In alliance with the Kaduna and Kebbi state governments and the Bank of Industry, Alhaji Dangote bid for a majority stake in Pan but backed out after it proved too risky.

Alhaji Dangote decided to expand his business by adding a car assembly plant to his empire and came up with the idea of DPAN. Located about 25km away from the location of the defunct Pan assembly plant in Kaduna, DPAN recently released its first set of assembled saloon cars, which were personal orders and come 2022, the company intends to venture into the mainstream market.

Entering into a joint venture agreement with Peugeot of France, Alhaji Dangote managed to get his own company off the ground. This was considered a safer investment than throwing good money after bad by seeking to purchase the assets of Pan.