Thursday, March 28, 2024

Africa’s Richest Man Launches Car Assembly Company in Nigeria

Aliko Dangote, Africa’s richest man

*Aliko Dangote, Africa’s richest man, has started assembling vehicles in Nigeria beginning with the Land Trek, 3008, 5008, and the new 508.

Business Insider reports that Dangote Peugeot Automobiles Nigeria Limited (DPAN) has started assembling vehicles at the new Greenfield Ultima Assembly Plant, located in the northwestern region of Nigeria. The plant will reportedly assemble 120 vehicles per day.

“With the New Green Field Ultima Assembly Plant, a lot is being done by DPAN to ensure visibility of the Peugeot brand and availability of spare parts to the network and the generality of Nigerians,” management of DPAN said.

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“DPAN will be encouraged by our technical partner to reposition the brand in the short, medium, and long term as we ensure customer satisfaction and sustainability.

“This dream has started with the re-launch of the Peugeot brand in Nigeria as well as the local assembly of the 301 at our new Kaduna plant and thereafter the introduction of the Landtrek, 3008, 5008 and the new 508…Nothing is being spared to enable market recapture, hence all hands are on deck to ensure not just survival but also continued growth in a market with potential for cars above 100,000 units per year and growing,” it added.

Dangote, who is also the world’s richest Black man, has a reproted $20.4 billion dollar fortune.

Business Insider writes, “The assembling of the vehicles comes almost four years after the Dangote Group received approval from the Nigerian regulator.”

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