The transportation sector of the economy in Lagos State has received
boost following Stanbic IBTC Bank’s financing of the acquisition of Tata buses
by Southdrift Investment Limited for operation under the Bus Rapid Transit
(BRT) scheme of the Lagos State government. The buses were commissioned at a
ceremony comissioned at a ceremony in Amuwo Odofin, Lagos, recently.
Southdrift, which will operate the buses on dedicated routes, has a
five-year BRT contract with LAGBUS Asset Management Limited, operator of the
Bus Rapid Transit scheme, to run a particular route within the Lagos metropolis
till 2018.
Speaking at the commissioning event, Lloyd Onaghinon, head, business
banking, Stanbic IBTC Bank, said the bank has a professional vehicle and asset
finance unit which understands the needs of the market and its customers. He
said Stanbic IBTC Bank has established a robust relationship with LAGBUS and
Southdrift and is ready to work with both organisations to improve
transportation in Lagos.
“At Stanbic IBTC Bank, we understand the needs of our clientele healthy
relationship with LAGBUS and southdrift as well as the Lagos state Government
to engender an efficient transport system in the state and across Nigeria”
added Onaghinon
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