{"id":95106,"date":"2023-08-28T20:12:45","date_gmt":"2023-08-28T19:12:45","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan"},"modified":"2023-08-28T22:33:52","modified_gmt":"2023-08-28T21:33:52","slug":"reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan","title":{"rendered":"Reps committee probes mismanagement of N16 billion SURE-P mass transit scheme loan"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>A committee of the House of Representatives Committee has decried the inability of beneficiaries to repay the N16billion Urban Mass Transit Schemes loan facilitated through the Subsidy Reinvestment and Empowerment Programme (SURE-P) funds.<\/p>\n

The ad hoc committee is investigating Failure of Federal Mass Transit Schemes in Nigeria since 1999.<\/p>\n

Chairman of the Committee, Afam Ogene, in a statement on Monday, said most of the beneficiaries of the government intervention did not repay the loan.<\/p>\n

It would be recalled that former President Goodluck Jonathan introduced the SURE-P scheme following the partial removal of the subsidy scheme.<\/p>\n

\u201cA total of 1,179 vehicles were released to the beneficiaries under the scheme, with a repayment plan covering four years. However, according to TIB, many of the beneficiaries defaulted and didn\u2019t repay the loans.<\/p>\n

\u201cFor instance, records show that as of December 2015, only two of the beneficiaries, ABC Transport PLC and The Young Shall Grow Transport Limited, liquidated their loans. Most of the beneficiaries are yet to pay as stipulated in the contractual agreements signed between them and TIB,\u201d he said.<\/p>\n

Mr Ogene noted that despite the failure of the last intervention, the Muhammadu Buhari\u2019s administration attempted to introduce different transportation interventions.<\/p>\n

He said the committee will investigate all the previous interventions in the transportation sector.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. A committee of the House of Representatives Committee has decried the inability of beneficiaries to repay the N16billion Urban Mass Transit Schemes loan facilitated through the Subsidy Reinvestment and Empowerment Programme (SURE-P) funds. The ad hoc committee is investigating Failure of Federal Mass Transit Schemes in Nigeria since 1999. Chairman of the […]<\/p>\n","protected":false},"author":84,"featured_media":95104,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,254,1589,11230],"class_list":["post-95106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-reps","tag-sure-p"],"yoast_head":"\nReps committee probes mismanagement of N16 billion SURE-P mass transit scheme loan - Nigeria<\/title>\n<meta name=\"description\" content=\"A committee of the House of Representatives Committee has decried the inability of beneficiaries to repay the N16billion ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reps committee probes mismanagement of N16 billion SURE-P mass transit scheme loan\" \/>\n<meta property=\"og:description\" content=\"A committee of the House of Representatives Committee has decried the inability of beneficiaries to repay the N16billion ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T19:12:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-28T21:33:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/08\/sm_1693242033.948698.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reps committee probes mismanagement of N16 billion SURE-P mass transit scheme loan\",\"datePublished\":\"2023-08-28T19:12:45+00:00\",\"dateModified\":\"2023-08-28T21:33:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan\"},\"wordCount\":236,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/08\/sm_1693242033.948698.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"Reps\",\"sure-p\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/reps-committee-probes-mismanagement-of-n16-billion-sure-p-mass-transit-scheme-loan\",\"name\":\"Reps committee probes mismanagement of N16 billion SURE-P mass transit scheme loan - 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