The Kaduna State Government said on Thursday that it would constitute a committee to recover loans issued to transporters under the Subsidy Funds Reinvestment Programme (SURE-P).
Mr Edward Marshal, Executive Secretary of the states’s Industrialistion and Micro-credit Management Board, disclosed this in an interview with the News Agency of Nigeria (NAN) in Kaduna.
Marshal said that the task force would comprise representatives from the Federal Road Safety Commission, Nigeria Security and Civil Defence Corps, Nigerian Police Force, Vehicle Inspection Office and members of the board.
According to him, the committee would ensure that the 75 beneficiaries comply with the terms of the agreement to repay back the loan on monthly basis and ensure the safety of the vehicles.
He said that so far, only three of the beneficiaries were able to refund the money, adding that this was not heathy for the growth and surviaval of the programme.
The scribe recalled that state government had distributed 35 buses and 40 taxi cabs in April 2013, saying that each bus cost about N3 million while the cabs cost N1.6 million each.
He said that the buses and taxis cost the state government about N169 million.
Marshal said the beneficiaries were expected to pay a monthly return of N90,000 for a bus and N45,000 for a taxi within a period of two years.
He said a beneficiary would thereafter own the vehicle after repayment.
The secretary added that the beneficiaries were selected from the 23 local government areas of the state to ensure even distribution.
He therefore urged them to ensure monthly repayment of the loan, which was supposed to be a revolving facility, for others to also benefit.
Marshal restated the commitment of the government at creating the enabling environment to facilitate the development of the state. (NAN)
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