• >
  • >
  • > PAN signs MoU with RTEAN to supply Peugeot vehicles


Previous" Next"
Other | 2015-05-24
PAN signs MoU with RTEAN to supply Peugeot vehicles


equel to the visit by the national executive members of the Road Transport Employers Association of Nigeria (RTEAN) to PAN Nigeria Limited in July this year to map out strategies on areas of cooperation between the two complementary organizations; both firms have signed a Memorandum of Understanding (MoU) that will guarantee the supply of various Peugeot brands by PAN to RTEAN under the National Mass Transit Scheme.

The Memorandum of Understanding which was signed recently in PAN, specifies that C & I Leasing Group Company, undertakes to provide financial and logistics support to the parties for the effective take-off and sustenance of the National Mass Transit Scheme; while Crescent House Limited, undertakes to ensure smooth and successful business relationship of all parties.

According to the MoU text "RTEAN is an association duly registered in Nigeria to carry on the business of transportation of goods and persons; and has agreed to collaborate with PAN in the purchase of Peugeot vehicles for its members under the National Mass Transit Scheme". The document further explains that PAN undertakes to supply the specified types and quantities of Peugeot vehicles to be used for the National Mass Transit Scheme (NMTS) within the time so specified and also provide adequate after sales service support for the vehicles supplied using its extensive network garages and service centres across Nigeria; and also make ava i l a b l e , genuine and s u f f i c i e n t spare parts across Nigeria to support vehicles procured under the NMTS.

MD PAN showcasing PAN product to RTEAN President
MD PAN showcasing PAN product to RTEAN President, High Chief Isiwele.

Also stipulated in the MoU is a clause that, "RTEAN agrees to purchase a pre-specified range and quantities of Peugeot vehicles at pre-agreed prices under the NMTS" and concomitantly "undertakes to educate and direct its members on the imperative of procuring genuine spare parts and servicing their Peugeot vehicles from PAN's authorized garages and workshops across Nigeria". In like provisions, PAN shall work with RTEAN to provide product knowledge training and train RTEAN members on driving skills, ethics and environment in order to improve the efficient use of vehicles supplied.

Speaking to pressmen after signing the MoU, the Managing Director, PAN Nigeria Limited, Mr. Ibrahim Boyi while commending the Federal Government for establishing the National Auto Policy, thanked members of the Road Transport Employers Association and other parties involved, for their partnership and gave assurances that PAN will do all within its powers to ensure that the articles contained in the MoU signed by both parties achieves maximum success and benefits that would promote the Nigerian auto sector.

It would be recalled that in July, the national President of Road Transport Employers Association of Nigeria, High Chief Musa Shehu Isiwele, while on facility tour to synergise with PAN Nigeria Limited, paid glowing tributes to the Managing Director, Mr. Ibrahim Boyi, for taking giant strides to reposition the company; stressing that the motive behind RTEAN's partnership with PAN "is because the company is the leading car manufacturing plant in Nigeria". According to High Chief Isiwele, "I remember with nostalgia, when Peugeot Automobile Nigeria Limited alone produced over 50,000 vehicles annually, catering for the transportation requirements of our members. Considering the amount of wealth that your products namely; Peugeot 504 and 505 both saloon and station wagon, generated for our members, we consciously owe it as a duty to join hands with the present management of the company in their renewed effort in re-positioning this biggest and comprehensive auto plant not only in Nigeria, but in Africa" he said.

News homepage
PAN Live Chat Service