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.

Bolakale Ayo     Abubakar Lah     Pius Abioje     Kishira     Odogun Olushola Gabriel     Toyin Falola     Laboratory-to-Product     Tanke Road     Hussein Olokooba     Kunbi Titiloye     Oke-Oyi     Olatomiwa Williams     Ita-Nmo Market     Geri-Alimi Split Diamond Interchange     Waziri Yakubu Gobir     Kayode Issa     Popo-Igbonna     Neuropsychiatric Hospital     Yakub Ali-Agan     Adebara     Tanke Flyover Bridge     Taiwo Joseph     Kwara-SAPZ Project     Abdulkadir Bolakale Sakariyah     Yekini Adio     Muritala Awodun     Saka Isau     Akom Construction And Engineering Synergy Ltd     AbdulQowiy Olododo     Mohammed Kamaludeen     Abdulsalam Firdaous Amosa     Mutawali     Ahman Pategi     Hamidu Olowo     Zainab Abass     Umar Danladi Shero     TIIDELab     Ilorin Like-Minds     Prince Sunday Fagbemi     NULGE     African Democratic Congress     Sheriff Shagaya     Mahmud Babatunde Baker     Olatunde Jare     Guber Aspirant     Akeem Lawal     Ophthalmological Society Of Nigeria     Bond     Abdulahi Abubakar Bata     Marufat Oladosu     Kolo     Elekoyangan     Bolaji Nagode     Saka Keji     Bello Taoheed Abubakar     Oba Of Jebba     Kwabes     Baboko Primary School     T And K FOODS     Oba Abdulkadir La\'aro     Talaka Parapo     Aliyu Muhammad Saifudeen     Oba-Solagberu     Sun Qing Rong     Oluwatoyin Lukman     Rotimi Samuel Olujide     Park     Idi-Ape     Aremu Odolaye     Olatunde Olukoya     Adolescent Girls Initiative For Learning And Empowerment     Coronavirus     Rachael Obisesan     Femi Ogunsola     Paul Olawoore     Zubair Folorunsho Erubu     Aasiyat Bello Oyedepo    

Cloud Tag: What's trending

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

Ilota     NIPOGA     Isau     Kwara 2023     Wahab Abayawo     Veterinary Teaching Hospital     Sulu Gambari     Saraki     Risikat Lawal     Junior Secondary School Certificate Examinations     Omar Gambari     Amoyo     Bisi Oyeleke     Hamidat Sulyman-Yusuf     Kwara State Fish Farmers Association     Sunset Workers     Plat Technologies Limited     Mahmud Ajeigbe     Olatinwo     Adedeji Onimago     Aremu Bose Deborah     Sheikh Ridhwanullah     Hydroelectric Power Producing Areas Development Commission     Sanitation Exercise     Kwarareports.com     Bashir Badawi     Raji AbdulRasaq     PharmAccess Foundation     Shaykh Luqman Jimoh     IFK     Mazars Consulting     Aasiyat Bello Oyedepo     Oniwa     Tanke     Adedayo Yusuf Abdulkareem     Moses Afolayan     Hassan Saliu     Sunday Fagbemi     Kale Kawu     State Bureau Of Internal Revenue     Abubakar Ndakene     Kola Adesina     Kamaldeen Gambari     Kwara     JSSCE     Na\'Allah     Muslimah Entrepreneurship Forum     Diagnostic Centre     Wahab Issa     Kwara United     Nigeria Association Of Women Journalists     Hussein Oloyede     Salami Adekunle     Funmilayo Isiaka Oniwa     Ekiti     Nigeria Foundation For Artificial Intelligence     Yaru     Adamu Jemilat-Baki     Amusa Bello     Kupchi Hosea Maxwell     Gbenga Adebayo     Emir Of Kano     Aisha Gobir     Markaz Arabic And Islamic Training Institute, Agege     Timothy Olatunde Fadipe     Elerin Of Adanla     Yusuf Lanre Badmus     CKNG     Michael Ologundea     Ibrahim Kayode Adeyemi     Yusuf Lawal     Muhammad Mustapha Suleiman     Femi Oladiji     Olatomiwa Williams     08001000100     Saliu Mustapha     Ajia-Bako