BUS MARKETS
* Nigeria - "N5b bus import from China is economic sabotage"". Want President, Goodluck Jonathan, to stop order
(Photo:Sun News - Innoson 6125 masstransit bus produced in Nnewi)
Lagos Nigeria -Sun News on Line, by Moses Akaigwe -October 21, 2011: -- The recent Memorandum of Understanding (MoU) signed between the Urban Development Bank of Nigeria (UDBN) and the Trade Union Congress (TUC), for the importation of no fewer than 150 mass transit buses from China, has drawn the ire of stakeholders in the local automotive industry, some of whom have branded the deal an economic sabotage that should be halted immediately... They argue that such a huge patronage which does not come very often, should have been channeled inwards to the benefit of the groaning vehicle manufacturers and the economy gnrally... The N2.3 billion loan agreement which was signed last week at UDBN’s headquarters in Abuja, was part of a total tranche of about N5 billion approved for both the TUC and the Nigeria Labour Congress (NLC) by the bank from its Public Mass Transit Revolving Fund which commenced last year...Labels: bus markets
posted by Unknown @ 3:16 PM
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