Gov Wada revives Kogi Transport Company with N288m
The moribund Kogi State Transport Company, Kogi Travellers may be back into full operation for the first since packing-off in 2011 with an intervention fund of N288million to be committed to the company.
The long-suffering of Workers of the Company who were sent on compulsory leave in 2011 may be over as emerging strong indications shows the Transports Company could be back in service before the end of 2013.
Top source disclosed that the expect to be rejuvenated company will be managed by a Private-Public Partnership with M.V. Network, an indegious company based in Abuja that is into transport management and consultancy.
The Special Adviser to Governor idris Wada on Transports, Engineer Dr. A. A. Abubakar who confirmed this development in a chat said that plans are in place by the Kogi State Ministry of Works and Transports to present the aggreement package for the approval of the State Executive Council.
He explained that the money approved for the joint venture is earmarked for the purchase of 34 Toyota buses and the repair of existing facilities needed for the smooth take-off of the new company.
His words:”part of the money is likely to come from SURE-P. We are going to user it for the renovation of the premises and loading bay in Lokoja, as well as the activation of the Ministry of Works and Transport workshop.
On the time line for the commencement of the operation of the company, Dr Abubakar said,”As soon as we are given the go-ahead by the governor, we would start immediately because we want to be avaliable for Christmas.”
He advised the former staff of the comapny who have been living in abject poverty to exercise patience as there are plans to absorb some of them that are considered empolyable, stressing that it is only the competent ones that would be recalled out of the 146 workers.
Dr. Abubakar however expressed the optimism that the new company would be viable as the discounted cash flow analysis carried out indicates its profitablity.
He hinted that he would keep an eagle eye on the activities of the company when it becomes operational to ensure that things are done appropriately in accordance with the terms of aggreement signed with the representive of M.V. Network, Mr M.K. Usman, about a month ago.