₦airaland Forum

[size=18pt]This story and title is mis leading. Blame the TUC and NLC for going to China not the FG. FG only provided the loan.[/size]


THE Federal Government and its Chinese counterpart have signed a N5.5 billion urban mass transit deal, with a view to boosting the Nigerian transport sector.

Under the scheme being brokered by the Urban Development Bank of Nigeria (UDBN) for the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), about 550 urban mass transit buses would be injected to the Nigerian transport system.

[size=14pt]Already, NLC and TUC have signed a contract agreement with a Chinese firm, Yutong Hong Kong Limited, for the bus supply.
Money for the project fund is being drawn from the N10 billion intervention fund released to the UDBN as part of its mandate as an infrastructure development bank.
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In an interview with The Guardian, Managing Director, UDBN, Adekunle Oyinloye, said upon realising the enormous challenges in the sector, government, through the Finance Ministry, released the N10 billion for mass transit operators in the country.

According to him, unlike the past schemes where buses were released to beneficiaries free of charge, the N10 billion is a revolving loan with five per cent interest rate and repayment plan of five years or less.

Oyinloye said half of the fund has been earmarked for the NLC and TUC, while the other half is meant for local councils and individuals.
His words: “Government provided N10 billion, half of which is meant for TUC and NLC, the other 50 per cent for the local government and private individuals. Twenty per cent of the N5 billion, which is N2 billion, is meant for state and local government, while 30 per cent is meant for private sector operators.”
Oyinloye, who said his bank was a Development Finance Institution (DFIO) focused on infrastructure, assured that due diligence had been embedded in the disbursement of the funds to ensure strict repayment plan.

According to him, for any private sector operator to access the fund, it must have a bank guarantee, credit insurance, an irrevocable standing payment order from state or local council and corporate guarantee that is credible.

Besides, he said organisations wishing to participate in the scheme must present their business plans showing that they are capable of operating the buses to access the fund.

He disclosed that to safeguard the fund and make sure that it was used for mass transit, the UDBN opted to acquire the buses and not release cash to beneficiaries.
The bank chief added: “So far, we have had a good number of private sector operators who have been able to access the fund. Companies like ABC Transport, Okeyson and Ekenedili Chukwu, have been able to meet our criteria and we have given them the buses. We don’t give out money, we acquire the buses and give to them.”
On the controversy that trailed the NLC-Yutong deal, Oyinloye explained that the bank was just a financial adviser in the pact, stressing that it did not introduce Yutong to NLC.

According to him, NLC had been dealing with Yutong long before the current deal, which involved the bank at advisory level.

The NLC had been sharply divided over the Yutong, China deal as some members accused the congress’ leadership of not following due process in the contract deal.
Some NLC affiliates also alleged that the deal smacked of graft, claiming that money exchanged hands during the signing of the contract agreement in China, where the union President, Abdulwaheed Omar; Chairman of Labour City Transport Service (LCTS) and Vice President, NLC, Peter Adeyemi and General Secretary, John Odah, were present and signed on behalf of NLC.

How many of you here will buy made in Nigeria cars? Think and argue objectively. Me, I will never buy a made in Nigeria car talkless of a bus for everyday use.

[quote author=fried-rice link=topic=609593.msg7779073#msg7779073 date=1298373810]FG buying Buses from China??. Is this the most pressing issue amongst the nations problem
Why don't they concentrate on fixing the roads instead. This is one sector the private sector has contributed
immensely in improving, all they are asking the government is Fixing the roads, and this they wont do.
Clueless Jonathan and his cabinet of Dull brains .[/quote]LOL - If government spends money on road, and ignores other sectors, you will be the first to shout why are they ignoring transport. You are making noise for no reason. So NLC/TUC are not private sectors? The 10billion naira funding is for the private sector to invest in Transport. LOL

Arm chair critics all over the place.

Why not blame your NLC who choosed the Chinese as their partner in this deal, or some people find it hard to understand an article? All over the world, Chinese are investing and reaping. From America to Europe to Asia, Chinese products are all over the place and in every sector you can think about. But here in Nigeria, we think we are too big for Chinese products. Whats the issue with Nigerians? Which country doesnt buy Chinese products?

its untrue. The guy was on TV last night.

Venezuela denied the story.

Wrong news. Venezuela government says Qaddafi aint flying into their country.

Nigeria is nation full of sycophants. why is he weeping? All he needs is to hit the streets and see if people wont follow him.

that amount may come a bit low. how much will you rent the premises alone, and pay for 2 years maybe? you can start little with phone and accessories, and computer repairs and accessory sales, but for laptop sales? you will need more money. unless you are talking fairly used laptops?

Nigeria is nation full of sycophants. There is too much talk. LEt him come out and lead. Simple.

is this inclusive of the rent for the business premises? registration of business, furniture, bills etc?

You will do the same thing you did to your first boyfriend, get fed up, ask for a break, meet another guy, get fed up and tired, ask for a break, meet another guy, get fed up and tired, ask for a break, meet another guy, get fed up, ask for a break, meet ---and the cycle continues.

Women, never satisfied with what they have, but when they loose it, they go everywhere looking for that which they were initially not satisfied with. How can we help you from getting "oju kokoro"? Only you can help yourself. Stop getting tired and fed up suddenly, consider the other person's feelings as well instead of breaking his heart and finding alternatives.

You dont want to be treated badly but you treat others badly by suddenly asking for a break.

When Egypt erupted, GEJ ordered the evacuation of Nigerians, many cursed him and rained insults upon him and said it was a waste of resources.

Should he repeat this in Libya?

^^^

You have shown the cap fits you, so wear it perfectly. Are you he only one commenting on this thread? Why do u think I was referring to you? Why take things personal on a cyber space? Come on. I don t know you, you dont know me, i dont care who you are, so, how come you take thinks personal? Are you Bakare's first born? Name calling is uncouth just because you want to make a point.

I agree with all the names you have called me:

Intellectual deficient

Id-iot

What else?

I guess thats it then. Name calling is a sign of madness especially when un provoked. I dont talk to mad people. Sorry.

Some people will say they killed him.

Go to the embassy website - you will see the requirements there. They are your visitors, you must show proof you are able to cope with them financially etc.

Its nothing more than applying for a visitor visa. You need to invite them and show your financial standing to cope with them or else let them say they are going on holiday hence they have to do everything by themselves.

at least I dont spend my time writing bull crap to women on NL.

hahahahaha.

You see why the problem is hydra headed? Exempt private corruption? Why? You see why it is hard to deal with corruption? You can not tackle it on just one side alone - public and leave out the private. Not a solution.,

ok - so, your own is to send the invitation letter and supporting docs - pay slips, accommodation, etc. they will use their own docs to support themselves - bank accounts etc.

You really have a good paying job. This will be a daunting task. How many people will you alone invite at the same time? How many are you looking at?

It is not only public officers that are corrupt. You will have to kill everyone to wipe corruption out in Nigeria. IMHO

KnowAll:
[size=16pt]SENTIMENTS APART, BB IS THE CLOSEST TO A REVOLUTION WE WOULD HAVE IN THIS COUNTRY. AND IF WE ARE NOT GOING TO HAVE A REVOLUTION THEN WE MIGHT AS WELL VOTE FOR BB.

SE SHOULD JOIN THIS MINI REVOLUTION BY VOTING BB- JONATHAN HAS COMPROMISED TOO MUCH WITH CORRUPT PEOPLE EVEN GOING TO BEG IBB,CIROMA AND ATIKU, WHO ELSE JONATHAN GOING TO BEG THE " DEVIL" I SUPPOSE[/size][/size].

? What is this with the title?

.

10,000? Then you dont know what corruption is in Nigeria. If you have experience Nigeria first hand, and not what you read in papers, you will know that 10,000 corrupt Nigerians is just a tip of the iceberg. We are talking about every Nigerian being corrupt. Killing only 10,000 is just doing a prelude to killing everyone.

Hypocrites.

When they compare him to Obama, it is sensible. But when he is compared to Palin, they go gaga.

https://www.nairaland.com/nigeria/topic-608237.0.html

How many will you kill? The Councillors in the local government offices? the the chairmen, the vice chancellors, the rectors, the permanent secretary, the NGOs, by the time you finish, everyone will be dead, including the hangman himself.

they are waiting to nab you.

Now I am really confused what we want in this country. Honestly speaking.

You are sorry? For what? Oh Please.

Story! Because you are Anti GEJ. The other threads where they talk crap against him, and call him names, they are sweet melodies in your ears.

Dont beg me, I dont need your please. If it is crap and ridiculous, skip it. The last time I checked, there is no rule begging you to read every topic on NairaLand, which certainly is not yours.

The question remains, what will Bakare bring to bear on Nigeria. If that is silly to you, skip it, go to toilet, or do some other things.

There is nothing to investigate - they just bicker all the time.

In 11 months of BB:

139,989 megawatts of electricity without spending a dime.

ECA grows up to 9078Billion dollars.

The least paid Nigeria worker earns 100,987:00 Naira per month

Bill Gates send his children to one of the best Universities in the world and this is in Nigeria.

The Queen of England comes to seek medical attention on her knee at the UNTH Enugu - the best in the world.

All roads in Nigeria are now tared and with street lights. All.

Corruption is no more, its a taboo to be corrupt in Nigeria.

Police in America comes to Nigeria to get trained by their Nigeria counterpart.

Nigeria farmers now drive Bentleys and Maserattis.

Nigeria becomes the number one tourist attraction in the world.

The ultimate shopping center in the whole world is now in Onitsha - beats Dubai hands down.

Nigerians does not need visa to go anywhere in the world.

All these in 11 months. The same time it has taken GEJ to show he cant do it.

VOTE Buhari. EXperience change.