Peugeot Automobiles Nigeria (PAN) is going to invest N3.5-billion in Nigeria's automobile sector to produce a new model called the "307 Sedan".
Alhaji Aliyu Iliyasu Kakumi, PAN managing director and chief executive, said the proposed car will be produced by utilising 10% local content. After four years the car manufacturer expects this figure to increase to 20%.
The managing director urged the federal government to support the company by implementing the following measures:
PAN hopes their investment will provide the country with a sustainable vehicle manufacturing industry and that it will create numerous employment opportunities.
