by
Owho Warri
Executive Assistant (Communications) to His Excellency the
Governor of Delta State, Barrister Fred Latimore Oghenesivbe has debunked news
trending on social media that Delta State Government sold Delta Line out
rightly to God is Good Motors.
The EA Communications in a statement issued in Asaba said
government is making solid plans to divest part of its shares in the transport
company to pave the way for joint ownership with the highest bidder, adding
that the divestment of shares became necessary to make the company viable and
better managed by tested and trusted stakeholders in the transportation sector.
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GOV OKOWA PODIUM |
"The state government is not comfortable with the poor
financial status of Delta Line despite the huge investments in billions of
Naira pumped into it in the past; a development so frightening due to inability
of the company management to pay staff salaries and maintain its fleet tankless
of making profit for government.
"Similar transport companies in the state and elsewhere
managed by private investors are doing very well, declaring huge profits year
after year while Delta Line continue to degenerate; and all efforts put in
place to make the comany viable proved abortive hence government decided to
divest part of its shares and partner with professional managers in the
transport sector to manage Delta Line efficiently and profitably.
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DELTA LINE BUSES |
"The huge leakage of funds became unbearable which led to
the sack of various key management staff of the transport company and strict
checks and balances were introduced. These measures could not also solve the
problems as rogue elements within the system quickly deviced new unscrupolous
methods of stealing money.
"The comapny was unable to save money to pay backlog of
salaries and entitlements and therefore could not function effectively and
efficiently without partial funding by government."
On the allegation that the Delta State Chapter of the Nigerian
Labour Congress (NLC) offered N2 billion in its bid but government decided to
sell its shares to God is Good Motors, Oghenesivbe explanined that there is no
concrete evidence that NLC presented financial statements showing capacity to
pay for the shares, adding that it is hazy as to NLC strict compliance with the
bid.
On the unconfirmed rumour that some members of Delta State
Chapter of the All Progressives Congress (APC) are planning to stage protest to
force government to reverse its decision to stop the divestment process,
Oghenesivbe said the decision subsists and cannot be put on hold or jettisoned
for any reason whatsoever, adding that the divestment is the best option and
strategy to revive Delta line, manage it efficiently, imbibe good corporate
governance and make profits for government and other shareholders.
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DELTA LINE BUSES |
"APC Delta is completely out of the political radar in the
state hence its leaders and docile handful of members want to busy themselves
with a matter that was well deliberated upon and proper decisions taken for the
interest of the state and Deltans.
"APC should concentrate on how to manage its three years
old internal crisis rather than meddle with issues of good governance alien to
the party's (APC) mediocre leaders and their overzealous followers in Delta State
"The co-shareholders saddled with the responsibility of
managing Delta Line shall retain the work force after critical staff audit and
competence evaluation exercise expected to weed out ghost workers and redundant
human elements in the now unprofitable transport company.
"There is nothing to worry about because the name and
corporate colours of Delta Line shall be retained, operational routes and scope
of daily commercial and administrative activities sustained and modified except
for strategic restructuring as may be effected by the new managers for the
purposes of good corporate governance and viability," the statement added.
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