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.

Baruba     Millennium Development Goals     Babajide Ajayi     Islamic Development Bank     Mike Omotosho     Olateju Lukman     Kamoru Kadiri     Idi-Ape     Igbomina     Hassan A. Saliu     Tsaragi/Share     Micheal Imodu-Ganmo Road     Amusement Park     Salihu Ajibola Ajia     Jimoh Lambe Abdulkareem     Biliaminu Aliu     Charles Ibitoye     Garuba Alikinla Shittu     COVID-19 Palliatives     Ibrahim Issa Jetti     Gani Saadu     Ibikunle Ogunleye     Ahmed Bolaji Nagode     Segun Abifarin     Aisha Buhari     Alimi Abdulrazaq     Adolescent Girls Initiative For Learning And Empowerment     Ganiyu Abolarin     Obuh     07039448763     Dan-Kazeem     Vishvas KOZ Tractors     TETFUND     Olatunde Olukoya     Idowu Aremu     Muhammad Yahya     Wahab Issa     National Party Of Nigeria     Igosun     Daud Adeshola     Babatunde Idiagbon     Olatunji Abdulmumeen     Valsolar-Kwara Company Limited     Oniye     Olatomiwa Williams     Jani Ibrahim     Baboko Primary School     University Road     Ayedun     Ebun-Olu Adegboruwa     Okin High School     Opobiyi     Abdulsalam Firdaous Amosa     Ajasse-Ipo     Olomu Of Omu-Aran     Idiagbon     Muslim Stakeholders Of Kwara State     Rebecca Bake     Yusuf Abdulwahab     Eghe Igbinehin     Allocation     Olatunde Michaels     Idris Garuba     Umar Ayinla Saro     Farouk Salim     Elese Of Igbaja     MAI Akande     Sarkin Malamai     Saba Jibril     2017 Budget     Abdulrahman Onikijipa     Atunwa     Hassan Saliu     Katibi Ibraheem Adeola     Toyin Falola     Olusin Of Ijara Isin     David Oyerinola Adedunmoye    

Cloud Tag: What's trending

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

Towobola Abdulrahman Toyin     Afolabi-Oshatimehin     TIC     Kamaldeen Ajibade     Susan Modupe Oluwole     Moses Afolayan     Yusuf Ibitokun Sherifat     University Road     Kwara Pdp     Afonja Descendants Union     Saheed Popoola     Shettima Of Ilorin     Islamic Development Bank     Akande Idowu Ayoola Muhammed     Al-Ilory     Tsaragi-Share     Orire     Awwal Jawondo     Salake     Kola Ologbondiyan     PharmAccess Foundation     Olumide Daniel Ibitoye     Bisi Oyeleke     Gwanara     Sheriff Shagaya     Ahmed Bolaji Nagode     Is\'haq Modibbo Kawu     Akanbi-Oke     Abdulmumini Jawondo     Isiaka Yusuf     Elerin Of Adanla Irese     Jumoke F. Ajao     Olaitan Adefila     MINILS     Raliat Elelu-Habeeb     Amuda Aluko     High Court     Lanwa     Abdulkadir Remi Hawawu     Neuropsychiatric Hospital     United Nigeria Congress Party     Ishaq Abdulkarim     Kwara State Polytechnic     Ojo Fadumila     Col. Taiwo     Fatimat Saliu     Olabode Towoju     Abdulrosheed Okiki     Chief Imam Of Ilorin     Ilorin Muslim Community     Ilorin Like-Minds     Federal Road Maintenance Agency     S.O. Opowoye     Gbemisola Oguntimehin     Mazars Consulting     Sarakite     Lithium Deposit     Bayo Lawal     Zara Umar     Mujtabah Bature     Amusement Park     Wahab Abayawo     Sidikat Alaya     Sobi FM     Olam Food Ingredients     Bolakale Kawu Agaka     Razak Atunwa     Hussein Olokooba     Jeunkunu-Malete-Bani     Suleiman Mora Omar     Sodiya     Sa\'adu Salau     Gbajabiamila     Shehu Adaramaja     General Hospital, Offa     Vasolar     Ilorin Metro Park