Connect with us

news

Federal Government Distributes 4,116 Buses Worth N37 billion to Nigerians Nationwide

The Managing Director of The Infrastructure Bank has revealed that the President Muhammadu Buhari-led federal government have delivered a total of 4,116 buses to beneficiaries nationwide under the Public Mass Transit Revolving Fund (PMTF) Scheme.
The buses (Photo: The Herald)
A total of 4,116 buses valued at N37 billion have been delivered to beneficiaries nationwide under the Federal Government’s Public Mass Transit Revolving Fund (PMTF) Scheme.
The Managing Director of The Infrastructure Bank, Adekunle Oyinloye, stated this in a paper he presented at a National Workshop for Chief Executive Officers of Mass Transit Companies in Abuja.
Mr. Oyinloye said the buses were released to mass transit companies to provide cheap and affordable road transport services to Nigerians across the six geo-political zones and the FCT.
According to him, the vehicles were provided under Phases I and II of the N25 billion PMT scheme being managed by The Infrastructure Bank.
He said that the scheme had also empowered over 50,000 Nigerians, including bus drivers, bus assistants, auto-technicians and booking clerks, through direct employment.
“In addition, the scheme has thrived in reducing poverty and enhancing regional integration, as more people are able to move easily across different regions of the country, and across the West African sub-region,” he said.
 
“The PMTF Scheme offers a single digit interest rate regime of five per cent per annum in Phase 1 and zero per cent per annum in Phase II.
 
“This has resulted in cost savings of about N10 billion when compared with the prevailing interest rate of about 25 per cent per annum obtainable in other financial institutions.”
Mr. Oyinloye said that PMTF beneficiaries were investing those cost savings in providing allied transport infrastructure like motor parks, service centres, ICT platforms, fleet maintenance, among others.
 
“On our part as the fund manager, we have continually managed the PMTF in line with international best practices.
 
“These are premised on a sound internal credit procedure and robust risk mitigating strategies that ensure beneficiaries fulfill their loan obligations, as and when due.
 
“This is the foundation upon which the successes so far achieved by the Fund were built.
 
“We are on standby to assist the federal government and any agency to successfully launch and sustain an intervention fund programme for transportation and other economic sectors,” he said.
Credits: NAN

Continue Reading
Click to comment

Leave a Reply

news

12-year-old boy kills landlady as condition to be initiated into a cult

Ethiope East Local

A 12-year-old boy, who allegedly robbed and killed his landlady at Abraka, Ethiope East Local Government Area, Delta State, yesterday, was among those paraded for various offences by the state Police Command, yesterday.

 

The state Commissioner of Police, Mr. Zanna Mohammed, who briefed reporters on the arrest of over 60 kidnappers, robbers, murderers, cultists and ritualists in the last three weeks, said the teenager confessed that he committed the act because a cult group told him that one of the conditions for initiation was that he must have been involved in a criminal act.

Continue Reading

Headlines

Super Falcons striker, Asisat Oshoala, comes to Falz defence with regards to statement about glorifying fraudsters

Asisat Oshoala

Nigerian professional footballer, Asisat Oshoala, who plays as a forward in the Chinese Women’s Super league for Dalian Quanjian F.C., took to her Instagram to express deep concern about how people are now proud to be fraudsters.

 

 

In Falz’ defense, she insisted fraudsters shouldn’t be glorified.

Continue Reading

Foreign

Zimbabwean Church leader in s*x scandal as photos naked photos and sex acts with 33 girls is exposed

Church leader
A Zimbabwean church leader, Nyasha Light Nyatsungo is enmeshed in a sex scandal and might also be facing legal action, after his ex-girlfriend flooded social media with his nude photo.
It was gathered that the Nyatsungo allegedly sent a nude picture of his Cape Town based ex–side chick, Shingi Mavenge, to his other girlfriend only identified as Beula who later broadcasted it on social media.
According to H-Metro, in an apparent fit of rage, Mavenge posted a WhatsApp chat she had with Nyatsungo’s wife identified as Nyasha Nhahumbi as well as a group chat with some of her former lover’s concubines.
According to Mavenge, she has gotten information that Nyatsungo has at least 33 girlfriends and has ditched his wife of eight years.
She adds that Nyatsungo bedded a girl who was their neighbour as well.
Mavenge said that the church leader’s wife revealed that they even consulted their local pastor in Mutare who failed in his attempts to mend Nyatsungo’s ways.
According to H-Metro, Nyatsungo, a married father of two, has denied ever circulating the picture, labelling Mavenge as a bitter woman whom he just flirted with on Facebook and nothing more.
“This Nyasha guy must be stopped in his tracks. He is going to pay for all the damage that he has done to me. He was the only one who had that leaked picture and I am shocked why he would forward it to some other girl,” fumed Mavhenge who is working on taking legal action.
 
“I started dating this guy in 2015 and never knew he was married. He lied.”  fumed Mavenge yesterday.
“That guy is full of lies and at some point, we opened a group chat with his wife and some of his girlfriends. He normally targets single mothers” added Mavenge.
H-Metro was furnished with six other cellphone numbers of his girlfriend that include Fadzai, Mutsa, Essy, Juliana, Barbra among others. Mutsa confirmed she once had a relationship with Nyatsungo have since terminated it since she discovered he was married.
Mavenge confirmed they met once in Johannesburg when she had to fly from Cape Town to meet her man sometime in April.
“That night he didn’t even have money. I had to pay the R800 for the accommodation as he had no money. He wanted to have sex with me but I flatly refused. He even wanted it without protection and I said No. he looked terrible with clothes in a plastic shopping bag. I want to write a letter to Pastor Rex who is the head of (the church) in Harare so that this guy be stopped with his tricks and lies,” added Mavenge.
When contacted over the phone in Mutare Nyatsungo confirmed he knew Mavenge but never had a relationship with her.
“I know her and we once flirted on Facebook. We never had a relationship as she is alleging. I don’t know why she is bitter. I haven’t seen the nude pictures she is talking about but I heard about it from Beula. We live in a democratic country. She can go ahead and sue me if she feels her rights have been infringed upon. All the allegations she is making are false and I don’t know her motive in trying to tarnish my image,” said Nyatsungo.
He said he was still with his wife whose phone rang without response yesterday afternoon. Despite his denials, H-metro was furnished with pictures of Nyatsungo and Mavenge, the time they met in April.

Continue Reading

Trending