“We are already sourcing the sum of N1billion to support the Nigerian Army Vehicle Manufacturing Company. We a have a number of investments in the Army that have been generating huge amounts of money and we will take a loan from there to support Nigerian Army Vehicle Manufacturing Company to realize our dream of producing indigenous armoured fighting vehicles and to continue to maintain our existing equipment.
Addressing the closing ceremony of the Nigerian Army Combat Arms Training Week on Saturday at the shooting range of Nigerian Army Infantry Corp, Jaji, Buratai revealed that the Army would take a loan from its"number of investments that have been generating huge amounts of money", for the purpose. “You have been promised by the Group Managing Director of NAVMC that in the next three to four months, we should have brand new vehicles originally produced by the Nigerian Army for use in the Army and the general public that may find it useful, especially the paramilitary agencies. This, we believe, will transform the Nigerian Army and Nigerian industrial companies when we start mass production.
Source: News Formal (newsformal.com)
I thought innosonvehicles are already doing that.
Another scam
Taking loans for poorly thought out projects appears to be the in thing. This should be driven by the private sector. All the army needs to do is provide specs and guarantee it will buy certain amount if specs are met and on time.
We should just forget about money once the loan is taken.
Who are they fighting for. Their brothers Boko Haram abi their in-laws Fulani herdsmen?. Useless country with empty brain
Smoke screen. All thieves!!
Loan upon loan in Nigeria. Very soon, Nigeria will take loan to conduct mass marriages for d teeming unemployed graduates. I weep for Nigeria.
Oleeeee. . Who is going to produce it ? These prodigal bastards are thieves ...
When did the military start taking loans? How will they repay it please
They should buy from innoson motors. Afterall, he's indigenous and good at it already. Army does not have the capability to manufacture and manage the processes. How functional and productive is the NA arms manufacturing company established since.
How nice. Just what the country needs, yet another loan
What happened to the $1b excess crude largesse from the president?
If true, to be paid by who?
My question is who will pay back the money 😆
The Nigerian government can award this to an indigenous company that produces vehicles & ammunitions or bring expert from other countries to train our Military force on how to build arms. If we politicize or play tribalism with this our 'Secession is at hand.
Scam
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