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.

Rafiu Ibrahim     Abdulrahman Iliasu     Ahman Pategi University     Mamatu Abdullahi     Magaji Nda     Olusin Of Ijara Isin     Isiaka Rafiu Mope     Okala Baba     Bolaji Abdullahi     Abdulhakeem Adelaja Amao     Joseph Yemi Ajayi     Kayode Ishola     Ibrahim Akaje     Aliyu Kora-Sabi     Sarkin Malamai     Saudat Abdulbaqi     Moses Salami     Tinubu Legacy Forum     Akande Idowu Ayoola Muhammed     Bayo Onimago     Atunwa     Demola Banu     Owo Arugbo     Adedeji Onimago     Raimi Iyanda     Saka Saadu     Muhammed Abdullahi     Kwara     Tunde Akanbi     Bayo Lawal     Olupako Of Share     Rex Olawoye     Majlis For Sadaqah, Zakat And Waqf     Special Agro-Industrial Hub     Okin Group     Omu-aran     Usman Rifun     Saheed Akinwumi     Tayo Alao     Old Oyo     Lateef Fagbemi     Kwara-SAPZ Project     Radio SBS     Jare Olatundun     Olumide Daniel Ibitoye     Mashood Dauda     Sola Saraki University     Balogun-Ojomu     Baboko Primary School     Mohammed Ghali Alaaya     Alaaya     Umar Sanda Yusuf     Adisa Logun     Budo-Egba     Abdulkadir Remi Hawawu     Waheed Ibrahim     Ayoade Akinnibosun     CCEPE     Olatunji Moronfoye     Kwara State Sports Commission     Abubakar Aliagan     Yusuf AbdulRasheed     Rashidi Yekini     Ahmad Uthman     Aliyu Alhassan     Niguel Gallando Marcias     Baba Idris     Talaka Parapo     Lafiagi     Curfew     Abubakar Baba Sulaiman     Sarafadeen Kayode Akorede     Albert Ogunsola     Saheed Popoola     Yahaya Dumoye     Volunteers Of Ilorin Community And The Emirate     Centre For Community Empowerment And Poverty Eradication    

Cloud Tag: What's trending

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

Abdulwaheed Musa     Khadijat Ayoola Yusuf     Ajidagba     Okin High School     Abdul-Rasheed Na\'Allah     Abdulmumini Jawondo     Oloye     Kwara-SAPZ Project     Ubandoma Of Ilorin     Kisira     Zulu Gambari     Lawal Jimoh     Oju Ekun Sarumi     Mansurat Amuda-Kannike     Kwara 2019     Bio Ibrahim     Roseline Oni Aremu     Ado Ibrahim     Odolaye Aremu     Ramat Oganija     Oladimeji Thompson     Lafiagi     Ahmad Lawan     Share     Yakub Ali-Agan     Yahaya Abdulkareem     Eleja     ITP     Ubandawaki     Hikmah AbdulKareem     PharmAccess Foundation     Samuel Adedoyin     Saad Belgore     Mohammed Ghali Alaaya     Facebook     Universal Basic Education Commission     AbdulKareem Yusuf Danhawa     Hydro-electric Power Producing Areas Development Commission     KWIRS     Wakilin Mata Lafiagi     Hassan A. Saliu     Muslim Media Watch Group Of Nigeria     Baakini     Bond     Elerin Of Adanla Irese     Taofik Abdulkareem Babaita     Kwara Muslim Pilgrims Welfare Board     Salmon Babatunde Salmon     Olaosebikan     Henry Olaosebikan     Oniye     Oke-Kura     Fatai Olodo     Prince Mahe Abdulkadir     Jalala     Valsolar-Kwara Company Limited     Press Release     Idowu Aremu     Afolabi-Oshatimehin     Salaudeen Oyewale     Adebayo Salami     Iyaloja-General     Sadiq Umar     Toyin Abdullahi     Isiaka Oniwa     Omar Bolaji Gambari     Ebun-Olu Adegboruwa     Young Progressives Party     Abdulrauf Yusuf     Offorjama     Aliyu Muyideen     Hassan Taiye Salam     Olukotun Of Ikotun     Alimi Abdulrazaq     Kwara NIPR     Maryam Nurudeen     ARMTI