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AMCON to Sell Peugeot Plant to Dangote, 2 States

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By Modupe Gbadeyanka

Talks are ongoing on the sale of the car assembly plant of Peugeot Automobile Nigeria (PAN) Ltd to billionaire businessman, Mr Aliko Dangote, and two states.

The sale of the car assembly firm is being carried out by the Asset Management Company of Nigeria (AMCON), an agency set up by the Federal Government in 2010 to acquire companies in Nigeria undergoing financial crisis before reselling them.

On Friday, the Chief Executive Officer of AMCOM, Mr Ahmed Kuru, informed Reuters that, “We have concluded all processes on the bids since about two months ago, all we are waiting for (now) is the approval of the Central Bank of Nigeria (CBN).”

It was gathered that Mr Dangote made a bid to acquire the car plant alongside Kaduna and Kebbi States and control majority stakes in PAN.

PAN Ltd was acquired by AMCON during the banking crisis, by buying up its debt and converted it to equity. But now, AMCON wants to sell off the auto firm, located in Kaduna State and has PSA Peugeot Citroen as its technical partner with a capacity to assemble 90,000 cars a year.

The company is said to worth over $49 million according to its last valuation.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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LASTMA to Arrest Commercial Bus Drivers for Illegal Parking, Others

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By Modupe Gbadeyanka

Commercial bus operators in Lagos State have been warned against route violations and illegal road parking across the metropolis or risk being apprehended to face the full wrath of the law.

This warning was given by the Special Adviser to Governor Babajide Sanwo-Olu on Transportation, Mr Sola Giwa, who said the government would no longer tolerate the excesses of the commercial bus drivers, especially those operating mini buses, colloquially known as Korope.

In a statement issued by the Director of Public Affairs and Enlightenment Department of the Lagos State Traffic Management Authority (LASTMA), Mr Adebayo Taofiq, the Governor’s aide emphasized the paramount necessity of unwavering adherence to traffic regulations, with particular regard to unauthorized route deviations.

According to him, the new directive is in alignment with the government’s overarching initiative to instil orderliness on Lagos roadways and ensure the uninterrupted flow of vehicular movement across the metropolis.

He further articulated that LASTMA operatives have been duly mandated to escalate enforcement strategies aimed at curbing reckless driving and unlawful practices that hinder urban mobility and disrupt the city’s traffic ecosystem.

Additionally, Mr Giwa issued a categorical directive against the indiscriminate occupation of public roadways for unauthorized parking and loading activities, which significantly aggravate traffic congestion and pose substantial risks to other road users.

He emphasized that, moving forward, all commercial operators must restrict their operations to designated bus stops and terminals to avert unwarranted impediments to vehicular circulation.

“Illegal parking and flagrant route violations have metamorphosed into a grave menace in Lagos, particularly due to the arbitrary conduct of mini bus operators. Such transgressions, which impede traffic fluidity and endanger public safety, will no longer be condoned.

“LASTMA has been expressly instructed to enforce absolute compliance with extant traffic laws and to apprehend defaulters accordingly,” Mr Giwa asserted.

“Furthermore, strict adherence to designated routes is imperative for security purposes, as it acts as a deterrent against unscrupulous elements who exploit commercial vehicles, particularly Korope, for illicit activities,” he added.

In light of these directives, LASTMA enjoins all road users, especially commercial transport operators, to cooperate fully with traffic enforcement authorities by adhering strictly to stipulated regulations and fostering a culture of responsible driving.

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inDrive Rewards Drivers for Dedication at Ramadan

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By Aduragbemi Omiyale

A leading global ride-hailing platform operating in 48 countries worldwide, including Nigeria, inDrive, recently rewarded some of its drivers for being active in the month of Ramadan.

The company, through a recently concluded weeklong campaign tagged inDrive Ramadan Drivers’ Initiative in Abuja, showered gift items on its drivers.

inDrive said the campaign fostered a deeper connection with its driver community, reaffirming its mission to empower and support those at the heart of its operations.

It underscored the brand’s ongoing efforts to foster a culture of recognition, appreciation, and financial support, ensuring drivers remain at the forefront of its mission to provide fair and people-first mobility solutions.

The platform, it was learned, recognized and rewarded drivers who went the extra mile to serve riders during the holy month of Ramadan, ensuring safe and reliable transportation for passengers.

The drivers were given thoughtfully curated hampers and other items, symbolizing inDrive’s deep appreciation for their commitment and exceptional service.

They were chosen after remaining online and consistently completing rides during the period for a special contest recognizing their dedication.

Speaking on the campaign, the Country Representative of inDrive in Nigeria, Mr Timothy Oladimeji, said, “At inDrive, we recognize the dedication and resilience of our drivers, especially during significant periods like Ramadan.”

“This initiative is our way of expressing gratitude and reinforcing our commitment to their well-being and success. We believe that when drivers feel valued and supported, they are better positioned to provide excellent service to riders,” he added.

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Tanker Explosion: Lagos Promises Stronger Safety Measures

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By Modupe Gbadeyanka

The Lagos ​State government has promised to put in place stronger safety measures after a gas tanker explosion on Otedola Bridge on Tuesday night.

The incident reportedly claimed two lives and destroyed some properties in the area, including vehicles and buildings.

Reacting to the explosion, the Commissioner for Transportation, Mr Oluwaseun Osiyemi, expressed the regret of the state government over the widespread damage and disruption caused by the tragedy.

“Our thoughts are with those affected, and we commend the swift response of emergency services working tirelessly to manage the aftermath,” he said.

The Commissioner noted that the incident reinforces the urgent need for stricter safety protocols for heavy-duty vehicles.

“The Ministry of Transportation is also intensifying enforcement on the movement of hazardous materials, strengthening regulatory compliance, and implementing enhanced safety measures to prevent future occurrences,” he stated.

Mr Osiyemi called on “all transport operators to uphold the highest safety standards and cooperate with government efforts to safeguard lives and property,” saying, “Lagos remains committed to a safer, more resilient transport system for all.”

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