President Muhammadu Buhari yesterday said greater consideration would henceforth be given to the technical and managerial competence of prospective buyers of government-owned companies.
He said a higher premium would be placed on the technical competence and financial clout of bidders in future privatisation exercises to avoid the running aground of privatised companies by ill-equipped and incapable investors.
Buhari was speaking at the Aso Rock Presidential Villa in Abuja,
while receiving Peugeot's Executive Vice President for Africa and the Middle-East, Mr. Jean-Christophe Quemard.
President Buhari was briefed on plans by Peugeot to stage a comeback to Nigeria after the collapse of the privatisation of Peugeot Automobiles Nigeria Limited.
Reiterating his administration's commitment to the privatisation and commercialisation policy of the Federal Government, he said privatisation could only succeed and yield desired benefits if buyers of government-owned companies possess essential skills and resources.
The Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, quoted Quemard to have earlier assured Buhari that Peugeot was ready to reinvest in vehicle assembly in Nigeria, provided the right indigenous partners are found.
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