Kwara PDP rejects N150m loan for Kwara Express

on   /   in News 6:56 pm   /   Comments

The Peoples Democratic Party (PDP) in Kwara has kicked against the decision of the management of Harmony Holdings to obtain N150 million loan for Kwara State Transport Corporation, owners of Kwara Express.

Harmony Holdings was established by the Kwara Government to to manage all state owned companies including Kwara Express.

In a statement issued in Ilorin on Wednesday, Mr Solomon Edoja, the PDP Caretaker Committee Chairman in the state, described the attempt by Harmony Holdings to obtain the loan as “dubious.’’

He described Kwara Express as a `leading and viable’ transport corporation with huge annual turnover.

Edoja said that the corporation was also a standard transport company that was generating revenues for the government.

“There is no justification for the loan being sought for by Harmony Holdings Limited,’’ Edoja said in the statement made available to newsmen.

He alleged that the decision was part of efforts to cripple Kwara Express.

The PDP caretaker committee chairman also alleged that the decision was aimed at incapacitating Kwara Express and facilitate the emergence of `Harmony Express.’

He called on Mr Tope Daramola, the Managing Director, Harmony Express, to explain how more than N540 million generated by Kwara Express between 2012 to date was spent.

“We warn them not to obtain the loan and urge the public to reject the facility

“The loan is nothing, but an attempt to make Kwara Express indebted and insolvent and curtail its ability to exist as a corporation,” Edoja said. (NAN)

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