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Peugeot to Complete Nigerian Assembly Plant December

By Dipo Olowookere
All things being equal, the proposed Nigerian assembly plant of renowned automaker, Peugeot, should be completed by December 2018.
This is to meet up with the target of producing its first assembled vehicle in Nigeria by the first quarter of next year.
PSA Peugeot Citroen is planning to assemble about 3,500 units in its first year and ramp up to about 10,000 units during the period.
The Peugeot brand used to be the preferred in Nigeria many years ago because of its ruggedness and durability. However, as the purchasing power of citizens continue to wean, the hunger for brand new vehicle dried up gradually as a result for request for imported used vehicles, which were cheaper.
But Africa’s richest man, Mr Aliko Dangote, is making efforts to bring Peugeot back into the Nigerian roads.
To make this happen, he went into partnership with Peugeot Automobile Nigeria (PAN) Ltd and five states in the northern part of the country.
Mr Dangote will hold a majority stake in the joint venture, while Peugeot Citroen will own a 10 percent stake in the local joint venture company and operate the plant.
The northern states which include Jigawa, Kebbi, Katsina and Kano would provide off-take for cars built at the Kaduna plant.
The Peugeot factory is expected to commence operations before the end of March 2019 in Kaduna State.
In an interview with Reuters, an aide to Governor Nasir El-Rufai of Kaduna State, Mr Jimi Lawal, disclosed that, “The first vehicle should come out by the first quarter of next year. We are hoping that the factory will be completed by December.”
“The land has been identified … we have advertised for a contractor that will build the factory,” he added.
Peugeot has said it would build its 301 sedan in small volumes at a plant operated by PAN. The vehicles will be produced from semi-assembled kits of parts shipped from Peugeot’s plant in Spain.
Nigerian production of additional models such as the 308 compact and 508 may follow later, Peugeot has said.
“Negotiations are still ongoing,” Peugeot said, without providing details.
Mr Dangote, in alliance with two states and the Bank of Industry (BOI), made a bid to acquire a majority stake in PAN after the state-bad bank AMCON sought to sell some of the assets it bought in the wake of the banking crisis in 2009.
Mr Lawal said PAN would start with N3.5 billion ($10 million) of equity and working capital of about $5 million. He said the company would raise additional capital.
Mr Dangote and the state governors have visited France to sign agreements, said Lawal who added that Peugeot would assemble three brands in Nigeria and target West African markets for export.
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Police Resumes Issuance of Tinted Glass Permit, Gives 30-Day Grace Period

By Modupe Gbadeyanka
In order to tackle the constant harassment of motorists by security operatives over the use of tinted windows in the country, the Nigeria Police Force (NPF) has resumed the issuance of tinted glass permit.
In a statement by its spokesman on Wednesday, Mr Olumuyiwa Adejobi, the police said motorists can now apply for the permit via a digital platform designed to make the process seamless.
The reactivation of the permit system is a strategic move to identify lawful users such as individuals with medical requirements or members of the security community while preventing misuse for criminal activities. It is expected to enhance police investigative capabilities and strengthen national security efforts.
It was disclosed that the secure and user-friendly digital platform for the application of the permit, www.possap.gov.ng, was approved by the Inspector General of Police (IGP), Mr Kayode Egbetokun.
According to the statement, this new system is for a clear, transparent, and accountable process for regularizing factory-fitted tinted glass on vehicles.
With modern automobiles increasingly manufactured with tinted windows, the police said it has become essential to provide a standardized system that accommodates legitimate use while ensuring public safety.
Tinted vehicles have often been exploited for criminal purposes, including kidnapping, armed robbery, one-chance scams, and other forms of banditry.
Their use hampers police visibility and impedes effective law enforcement, thereby contributing to public insecurity.
To ensure a smooth transition, a 30-day grace period has been approved, effective from May 1, 2025, within which motorists are expected to comply. Enforcement will commence at the end of this period.
Mr Egbetokun warned that officers found engaging in unprofessional conduct such as extortion or harassment in the course of enforcement would be decisively dealt with in accordance with extant disciplinary procedures.
Vehicle owners with tinted glasses have been advised to process their permits online, with identity verification integrated through the National Identification Number (NIN) and Tax Identification Number (TIN), alongside biometric capture and background checks.
The system also features QR-coded digital permits, with a streamlined processing timeline of 72 hours.
The IGP reiterated the agency’s commitment to a technologically driven and citizen-focused policing strategy. He urges the public to embrace the initiative in the interest of safer roads, enhanced public trust, and a more secure Nigeria.
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InfraCredit Backs Craneburg N32.5bn Infrastructure Bond for Ekiti Roads

By Adedapo Adesanya
Craneburg EKSG Motorway Company Plc, in collaboration with InfraCredit, has officially signed the final documents for its N32.5 billion 20-Year 22 per cent Fixed Rate Senior Guaranteed Infrastructure Bond issuance.
The signing ceremony, which took place in Lagos, had representatives from guarantor, the issuing houses, legal advisers, and capital market operators in attendance.
The proceeds from this successful issuance will be used to finance the Phase 1 construction of a 17.84km dual carriageway toll road in Ekiti State.
This project forms part of a broader 68km road network designed to unlock intra-state mobility, enhance logistics, and attract private capital into sub-national infrastructure delivery.
The purpose of funding and constructing, as well as the operation and maintenance of the 68km ring road in Ado Ekiti, Ekiti State is under a design, build, finance, operate, maintain and transfer (DBFOM) concession 20-year arrangement.
Commenting on the development, the Chairman of Chairman of Craneburg Construction Company, Mr Femi Edun, said: “We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative Annuity PPP Product.
“The product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably finance and execute this much-needed infrastructure project.
“As a company recognised for quality and timely delivery, we are committed to ensuring that this project sets a new benchmark for infrastructure development at the sub-national level.”
Also commenting, Managing Director of the lead issuing house, Anchoria Advisory Services Limited, Mr Sam Chidoka, said: “This transaction is a testament to what’s possible when innovation, strong governance, and private sector capital come together in service of national development.
“We are proud to have led the structuring and execution of this landmark bond issuance, the first of its kind in Nigeria’s debt capital market and proud of what it represents, a scalable blueprint for funding an infrastructure project through the capital markets.”
Anchoria Advisory Services Limited served as lead issuing house and bookrunner, supported by Coronation Merchant Bank, Greenwich Merchant Bank, and Iron Global Markets Limited as joint issuing houses.
According to a statement, the firm said the landmark transaction sets a replicable precedent for infrastructure financing across Nigeria, paving the way for future PPP-backed issuances where the private sector leads execution, risk sharing is institutionalized, and development is market-driven.
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Lagos to Clampdown on Rickety Vehicles

By Adedapo Adesanya
The Lagos State government has expressed concerns over the growing number of rickety vehicles operating on Lagos roads, saying they pose a risk to commuters and road users in the cosmopolitan city.
The government, through Lagos State Vehicle Inspection Service (VIS), has advised Lagosians to be vigilant and avoid boarding rickety public vehicles known as danfos.
The Director of the agency, Mr Akin-George Fashola, said reassured members of the public that impounded rickety vehicles would not be released for further use.
In a statement via the Lagos Ministry of Transportation on X, formerly Twitter, Mr Fashola said the vehicles, including one he personally apprehended, were in extremely poor condition, describing them as poorly maintained, with outdated parts and lacking essential safety features essentially ticking time bombs on Lagos roads.
He emphasized that rickety vehicles have been linked to numerous accidents in the state, often resulting in loss of lives, injuries, and property damage.
Further highlighting the dangers, Mr Fashola pointed out several critical issues common among the seized vehicles: unstable tires due to expiration, potential brake failure caused by makeshift repairs, and disjointed body compartments weakened by rust all of which render them unfit for commercial use.
He noted that many of these vehicles operate mostly at night, further increasing the risks to unsuspecting passengers, urging the public to prioritize safety by avoiding any vehicle that appears to be in a deteriorated condition.
He added that the VIS is working closely with relevant stakeholders, including road transport unions, to ensure Lagos roads remain safe for all users, encouraging members of the public to report any sightings or experiences with rickety vehicles via the VIS complaint platforms at [email protected], or through the Ministry of Transportation hotlines: 09020004000 and 09020009000.
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