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Friday, October 15th, 2004 HOME | Previous Page Kaduna bids for Federal Govt’s 35% equity in PAN   By Sanya Adejokun Senior Correspondent, Abuja   Kaduna State government through its investment agency is negotiating for the 35 per cent equity shares of the Peugeot Automobile of Nigeria (PAN). According to sources at the Bureau of Public Enterprises (BPE) in Abuja, the state government indicated interest in the shares based on the existing preemption rights and this led to a revaluation of the share price. But the source disclosed that negotiations have slowed down as the state government was not able to pay for the shares by August 30 when the BPE had planned that it would be paid into the privatisation account. However, a presidency source disclosed that the slow pace of the entire privatisation programme is now a serious source of worry for members of the National Council on Privatisation (NCP). In fact, our source revealed that the council held a meeting last week where the entire process was re-examined with a view to reviewing how it has operated since last year. The privatisation of PAN has been a source of quarrel between the Federal Government and the French technical partners with the former insisting that the company’s products must not be exported to other West African countries before the insistence of government’s nominated board chairman resolved the matter in favour of Nigeria.   Copyright� 2004. All Rights Reserved. Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.independentng.com e-mail: [email protected] Designed By Powered By DNet.

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