The Bauchi State Executive Council on Wednesday approved the purchase of 60 buses at N1.38 billion to boost its Mass Transit Company, Yankari Express, and other agencies.
Alhaji Ali Ali, the Special Adviser on Media and Strategy to Governor Mohammed Abubakar, said this in Bauchi while addressing newsmen on the outcome of the State Executive Council meeting, presided over by the governor.
Ali explained that the 18-seater, 2015 model buses would be supplied by Transfiguration Integrated Resource Limited on loan.
He further explained that 30 buses out of the figure would be allocated to the state-owned Mass Transit Company, operators of Yankari Express, to enable the company to boost its fleet.
Ali said 20 buses would be allocated to the 20 Local Governments in the state, while the remaining 10 buses would be retained by the government.
He said the loan would be repaid in three years through an “irrevocable standing order of N190 million monthly and would be deducted at source”.
Ali said the SEC also approved for the state government to access credit facilities of N8 billion from the Central Bank of Nigeria under the bank’s Commercial Agriculture Credit Scheme.
He said the state House of Assembly had earlier approved the loan, while the SEC, during its Wednesday’s meeting, approved the loan to improve agricultural activities in the state.
The special adviser said the state government would access the loan through United Bank for Africa and would be used to encourage rice, fish and agro-allied production in the state.
He said government had started accessing the credit facilities since 2016 when it introduced its ANCHOR Farmers Borrowers’ Programme.