Auto firms threaten to withdraw palliatives buses over huge debt
On May 9, 2012 · In News 10:12 pmEmail0

BY THEODORE OPARA

LAGOS – The Federal Government’s inability to pay suppliers of the 2,500 high capacity buses it ordered as a palliative measure to cushion the effect of the January increment in fuel pump price may soon cause untold hardship for commuters nationwide as the automobile companies have threatened to withdraw their vehicles from the operators of the government mass assisted scheme.

Six automobile companies including National Truck Manufacturers, (NTM); Tata Motors, VON Automobiles (Ashok Leyland); ANAMMCO (Mercedes) Globe Motors (Hyundai and Toyota) and Elizade Motors (Toyota) were contracted by the government to supply the high capacity vehicles valued at over N15 billion through a letter by the Urban Development Bank on January 8, 2012.

But five months after, the automobile company were yet to be paid for the first batch of the supply of 1250 units of buses valued at N8.9 billion, a development which has necessitated the suppliers to threaten to withdraw all the buses pending when the government shall pay.

A source told Vanguard, that the suppliers had perfected plans to retrieve the vehicle from operators of the government mass assisted scheme soon to recover the huge debt.

According to the source, the suppliers planned to withdraw the vehicles and park them in the bank warehouses pending the payment by the government.

It further stated that the next batch of supply of 1250 units has been put on hold as a result of the huge debt.

He said: “As I speak with you now, we are groaning under high bank interest rate and may close shops as a result of government’s refusal to pay the debt. We have discontinued further supply of the remaining 1250 units and may consider the option of suing the government to recover our money.

“When government invited us to supply the buses they gave us only two days to do so and we borrowed at a very high bank interest rate thinking that the government would live up to its promise to pay in good time. But five months down the line, the ministries of Finance and Investment are yet to contact us.”

http://www.vanguardngr.com/2012/05/auto-firms-threaten-to-withdraw-palliatives-buses-over-huge-debt/

It's all Fresh Air...LOL!

The suppliers should read the payment period in their contracts properly. We Nigerians just love to be loud for no reason.

The government's anus mouthpiece is here to answer! LWKMD!

CyberG: The government's anus mouthpiece is here to answer! LWKMD!

Aregbesola's 300million Naira 15kw O-Anus is repping the gutter as always. Lol!

LOL...some loser just gotta try and perch around my posts! Get lost, me no send any barry! This is about the useless brain dead government of Odechukwudeen and no one else! LWKMD! Running scared...mu ehehe he ehe eh ehe

CyberG: LOL...some loser just gotta try and perch around my posts! Get lost, me no send any barry! This is about the useless brain dead government of Odechukwudeen and no one else! LWKMD! Running scared...mu ehehe he ehe eh ehe

Thank goodness you have told the first truth in your cowardly existence, which is that you are "Aregbesola's 300million Naira 15kw O-Anus that is repping the gutter as always."

The truth will set O-Anuses free!

So it now turns out that this Administration did spend our money on purchasing the buses ? Wow . . 2500 buses? Paid for by the Nigerian people, to do what? How many people have even seen, let alone ridden these so-called palliative buses?

LOL...the dumshit Jonaton's days are numbered anyway. When he kaput, his government beef meat assole-mouthpiece will die! LOL

^
All hail the O-Anus!
Bro, you're more powerful than a Musiwa/becomerich combo! Lol!

All hail fools!

Pffftt...some shitty SOB cannot just go face the brain dead, inactive Jonaloser! LWKMD! Me no send any useless comment from any barry o. Worse is the dumb arse loser president cannot even pay for buses on time. Otueke fisherpresident is clueless...me he he he he

^
The O-Anus just farted!

Why don't they get Innosonn buses? I gue they love everything foreign SMH

http://www.innosongroup.com/innosonmotors/buses.php

Innosson buses? Please excuse me, so they can finish the company before it got started right? Can Innosson afford to give #15billion worth of buses without upfront payment at this early stage? No I do t think so.

We need to know this present government is so dishonest. I do not believe gej is slow, he is just a very dishonest, snake-like kind of person. Unfortunately some people still fall for his deceits.

Trust gej at your peril

igbo2011: Why don't they get Innosonn buses? I gue they love everything foreign SMH

http://www.innosongroup.com/innosonmotors/buses.php

Innoson busses were found to have zero safety rating and was capable of depleting the population... Are you happy now!! Now give it a rest!


Those bus companies should relax jor!!

If they recall their busses, we the government would slam them with so much taxes that they would barely be able to afford 1 litre of diesel for their factories.

i swear i have neva seen any of the buses mentioned!!! wonder where they are and who is managing them.... what a dull govt kai!!!

can this be like what's going on in the petroleum sector where people are paid without supplying anything!!!

Okija_juju:

Innoson busses were found to have zero safety rating and was capable of depleting the population... Are you happy now!! Now give it a rest!


Those bus companies should relax jor!!

If they recall their busses, we the government would slam them with so much taxes that they would barely be able to afford 1 litre of diesel for their factories.

Where did you get your information from? Please explain

manny4life:


Where did you get your information from? Please explain

Was trying to get the nigga to drop the Innoson gist already... Its been over-flogged.

I thought the money was supposed to be gotten from the 'SURE-P' thing, or is the money not SURE again?

Who is honest between FG and those contractors that supplied old buses and all waiting to collect 8.9billion naira.I don't want know if those companies eventually folds up,they wanted to make money from subsidy crises,while the masses were crying and prostesting.infact this shows the insincerity in governance God purnish jonathan,dumb patient and all his ministers and governors.

FRESH AIR MEHN!!!!!!!!!

Beaf: The suppliers should read the payment period in their contracts properly. We Nigerians just love to be loud for no reason.

You don turn this asskissing into a career oo

Okija_juju:

Innoson busses were found to have zero safety rating and was capable of depleting the population... Are you happy now!! Now give it a rest!


Those bus companies should relax jor!!

If they recall their busses, we the government would slam them with so much taxes that they would barely be able to afford 1 litre of diesel for their factories.

bete pick ur mouth shot...big fool...

Beaf: The suppliers should read the payment period in their contracts properly. We Nigerians just love to be loud for no reason.

Sir, yes a contract might have been signed, nevertheless it doesn't stop the government from negating on its promise to pay up.
Will you be prepared to wait for 5months for payment, knowing that you have various overheads that needs to be covered.
Even to pay federal government workers, the government is having problems.
This is a sure indication that the government is a business-killer.

BTW: I'm yet to see any shadow of the subsidy buses on our roads.

Choi... Chineke mehh jonafhuck wnt kill us in this country..... Eletricity subsidy *coming soon*

@BEAF......why don't you ever try using your brain to cook out logical reasoning to your perspective views about the obvious which is open to every sane being in Nigeria?

I bet you have no idea what lending money in a Nigerian bank is nd your here talking about them going thru a contract when payment has not been made for the first 5 month.

For crying out loud do you need prayers or would you rather just gulp down a bottle of dettol?

Ur just too useless nd I'm asuming ur more useless than the king of uselessness.....I.e..his Excellenthief .Badluck egbere Jo_lantern a.k.a retardeen.

What is d essence of d buses wen d impact r not felt by d common man on d street. Abeg, make dem retrieve am bak as soon as possible jare