FG Imports 1,600 Units Of Vehicles To Boost Transportation

The federal government of Nigeria has said that a total of 1,600 units of diesel vehicles are set to be imported into the country to boost transportation in the country and at the same time cushion the effect of the fuel subsidy removal.
The Federal Executive Council chaired by President Goodluck Jonathan said it has concluded arrangements to take delivery of 1,600 units this week as part of the long term plans to reduce the effects of the removal of fuel subsidy.

The federal government of Nigeria has said that a total of 1,600 units of diesel vehicles are set to be imported into the country to boost transportation in the country and at the same time cushion the effect of the fuel subsidy removal.
The Federal Executive Council chaired by President Goodluck Jonathan said it has concluded arrangements to take delivery of 1,600 units this week as part of the long term plans to reduce the effects of the removal of fuel subsidy.
The buses to arrived the country are the first batch purchased from the N10 billion revolving loan set aside by the government to address transport infrastructure in the country.
Briefing pressmen in Abuja, after an emergency meeting of the Federal Executive Council which lasted for about three hours, Minister of Trade and Investment, Olusegun Aganga said that revolving loan is payable over five years period and attracts 5% interest rate under the urban mass transit scheme and would be made available to credible transporters, Labour Unions and other Nigerians involved in the transport business.
‘’We have a duty to turn short term pains to long term gains.Governement has placed order that mass supply of decent diesel buses to solve transport problem. In the next couple of weeks there would be sufficient mass transit buses which will go for two years’’, he said.
The proposed diesel vehicles to be imported in to the country will not attract duty payment to customs.
The yet to be known brand of vehicles are expected to arrive the nation’s seaport amidst the proposed strike by Nigeria Labour Congress and Trade Union Congress and others.