Kwara Express to get 45 new buses

Date: 2014-12-17

The Infrastructure Bank has approved the request of the Kwara State Transport Corporation (Kwara Express) for additional 45 buses.

The Managing Director/Chief Executive Officer of the Infrastructure Bank, Mr. Adekunle Oyinloye, stated this in Ilorin during the budget retreat for the 2015 financial year of Harmony Holding Limited.

He stated that the loan request by the transport company would be converted to buses and handed over to the firm as soon as it completed its requirements.

"We have got approval for the request by the Kwara Express. We are not looking for money to buy the company the buses; the buses are here.

"The only thing we do not do is to stock vehicles because we are supposed to be giving out loans but at the point of disbursement, we convert it to asset, which is the main focus and in this case, the vehicles. We have our suppliers waiting and they stock new vehicles," Oyinloye said.

The Group Managing Director/Chief Executive Officer, Harmony Holding Limited, Mr. Tope Daramola, said the company initially applied for 50 buses, adding that with the current devaluation of the naira, the amount requested for could only procure about 45 buses.

He stated that the 45 buses would be delivered in two batches of 20 and 25 buses

He added that the company would expand with the injection of the new buses.

According to him, Kwara Express will incorporate executive charter and executive ride with well furnished coaches that will travel within the country.

Daramola said, "We can confirm authoritatively that we have secured approval from The Infrastructure Bank. We have also secured approval for the bank guarantee that is required to back up that transaction.

"We hope that in a couple of days, we should get the delivery of those buses. At the initial time, we asked for 50 buses but with the devaluation of naira, the value of the requested amount has reduced; so we will be looking at about 45 buses.

"The future of Kwara Express can only look better. We believe that once those buses come in, they will reinvigorate the assets of the Kwara Express and the fleet will be strengthened. We will withdraw many of the old ones and replace them with new buses."

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Fatimah Abdulkadir     Femi Agbaje     Abdulwaheed Musa     Abdulrasheed Na\'Allah     Plat Technologies     Gobir     Hussein Olokooba     Olushola Saraki     Zara Umar     Elerinjare-Ibobo     Shaykh Luqman Jimoh     Patigi Regatta     Abdulwahab Oba     Christopher Tunji Ayeni     Young Progressives Party     Hassan Taiye Salam     Babatunde Idiagbon     Public Holiday     Omu Aran     Yeketi     Abdulmalik Bashir Mopelola Risikatullahi     Mohammed Alabi Lawal     Ishaq Oloyede     Ilorin Innovation Hub     Air Peace     Donatus Ejidike     Garba Dogo     Quareeb     Prince Sunday Fagbemi     Kawu     Isin     Saadu Yusuf     Al-Hikmah University     Olaiya Zuberu     Sidikat Akaje     Sarkin Malamai     Idofin     Federal Polytechnic Offa     Rashidi Yekini     John Dara     Oko-Erin     Students Union Government     Dan Masanin     Abdulrahman Abdulrazaq     Saba Mamman Daniel     Orisun Igbomina     Nigerian Medical Association     AbdulRaheem Ahmad Shayi     Bashir Omolaja Bolarinwa     Salau Kabiru Abdullahi     Ado Ibrahim     Naira Redesign     Kwara 2015     GANZY     Abdulfatai Baakini     Ilorin     Eruku     Sunday Fagbemi     Charcoal     Akanbi-Oke     Saka Abimbola Isau     Gani Saadu     Alimi Abdulrazaq     Lola Ashiru     Ahmad Belgore     Sheu Ndanusa Usman     Amule     Senior Special Assistant On Student Affairs     Shaaba Lafiagi     AbdulRahman Saad     Kwara Poly     Kayode Zubair     Centre For Peace And Strategic Studies     Abdullahi Saadudeen Alikinla     Tinubu     ASMAU PLAZA     Ekweremadu    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

James Ayeni     Rasheed Jimoh     Okedare     Olomu     Segun Abifarin     Council Of The Wise     Sheriff Shagaya     Mumeen Lah     Maryam Nurudeen     Tunji Olawuyi     Rafiu Ibrahim     Gwanara     Zainab Abass     Sambo Murtala     Ogbondoroko     Oya State     Tunde Kazeem     NTA Ilorin     Funmilayo Isiaka Oniwa     Omar Gambari     John Olajide Adedipe     Rueben Parejo     Olufolake Abdulrazaq     Tunde Akanbi     Ilorin Airport     Ganmo     Kwara Liberation Group     Moronfoye     Jaiz Bank     Suwa-Arabs     Mohammed Danjuma     Women Radio     MATTA Girls Foundation     Abdulganiy Abimbola Abdussalam     Ilorin Water Reticulation     Shonga Farm Project     Abdulmutalib Shittu     Ali Ahmad     Shao     Yahaya Dumoye     Ifelodun     Mujtabah Bature     Oluwatoyin Lukman     Garuba Alikinla Shittu     Henry Makinwa     Woro     Agboola Abdulraheem     Unilorin     Femi Gbajabiamila     Kawu Baraje     Aliyu Muyideen     Emir Of Ilorin     Saka Keji     Kwara     Bashiru Makama     M.Y. Abdulrahaman     Yekeen Alabi     Akeem Lawal     Ministry Of Women Affairs And Social Development     Ilesha-Baruba     Omotosho     Olaiya Lawal     Ibrahim Jawondo     Omar Bolaji Gambari     Mohammed Yisa     Kwara State Geographic Information Service     Salmon Babatunde Salmon     Shade Omoniyi     Saudat Abdulbaqi     Alfa Modibbo Belgore     Saheed Akinwumi     Share/Tsaragi     UNIFEMGA     Hausa     Abdulrazaq Sanni     Kunle Suleiman     Dele Belgore