Harmony Holdings acquires Kwara Express

Date: 2015-06-18

he Kwara State Government has repealed the State Transport Corporation Law Cap. K54, Laws of Kwara State which set up the transport corporation popularly known as "Kwara Express.The repeal followed the State Governor, Alhaji Abdulfatah Ahmed's approval of the law repealing the edict which was earlier passed by the Kwara State House of Assembly.

A statement signed on behalf of Harmony Holdings Ltd by its Head of Corporate Affairs, Mr. Tunde Abodunde, said that by the repeal of the edict the State Government has transferred all the assets and liabilities of the defunct Kwara State Transport Corporation to Harmony Holdings Ltd, (the investments holding company of Kwara State Government). The new entity will now operate as Harmony Transport Service Ltd.

The Statement further noted that the repeal of the edict was informed by the need to to run the company in accordance with private sector creed, which is expected to strengthen the transport company for greater efficiency and effectiveness, under the control of Harmony Holdings Ltd.

It will be recalled that Kwara Express had been under the management supervision of Harmony Holdings Ltd since September 2012, a position which had led to salvaging the entity from near total collapse pre-take over to the position of profitability and improved fortune.

While reacting to the repeal of the edict, the Group Managing Director/CEO, Harmony Holdings Ltd, Mr. Tope Daramola, welcomed the development and stated that Harmony Holdings Ltd remains committed to the renewal agenda at Kwara Express as envisaged by the State Government. He stated that "Harmony Holdings has demonstrated its commitment to Kwara Express in many instances. Some of the steps taken by Harmony Holdings to reposition the company since September 2012 include the total payment of indebtedness of Kwara Express to The Infrastructure Bank in the tune of over N86Million, payment of arrears of salaries, allowances, cooperative contribution owed staff of the Corporation since 2008, implementation of Minimum Wage since July 2013, automation of ticketing system, among others".

Daramola said that in order to further strengthen the operational fleet of the Company, Harmony Holdings Ltd has acquired 42 brand new buses which are due for commissioning soon. The injection of the new buses into the transport scheme is to improve the operational efficiency of the transport company.

The GMD added that the Holding company has big plans for Kwara Express, including restructuring the Company into a world-class transport business that is functional, efficient and well managed.Mr. Daramola stated: "Kwara Express will compete very well with its peers, even in the private sector. The brand name i is strong. We have requisite knowledge and experience which we shall leverage on with other competences from outside to ensure that this company becomes one of the best in Nigeria".

Under the new dispensation, according to Daramola, plans have reached advanced stage to grow the Company through enhancement of staff welfare, strengthening the ticketing system, opening more loading bays across Nigeria, re-orientation and training of staff, modernization and commercialisation of the mechanical workshop, among others.

-

Muideen Akorede, PhD

Senior Special Assistant to the Governor,

(Media and Communication),

Government House,

Ilorin.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Wahab Isa     Lithium Deposit     Garba Ayodele Wahab     Kwara State Television (KWTV)     Taofeek Ibraheem     UTME     Assayomo     Abdulmajeed Abdullahi     Haruna Olawale Sulaiman     Abubakar Abdullahi Bata     Gbadeyan Gbadura Yomi     Bareke     Olayinka Oladapo Jogunola     Wahab Agbaje     Funmilayo Oniwa     International Aviation College     Abdulsalam Firdaous Amosa     Sobi FM     Ilorin South     Yakub Ali-Agan     Coalition Of Kwara North Groups     Boko Haram     Tunji Ajanaku     Abdulrahman Onikijipa     Halimah Perogi     Aliyu Umar     Olanrewju Okanlawon Musa     Goodluck Jonathan     S.O. Opowoye     Suleiman Abubakar     Christopher Odetunde     Ashiru     Ibrahim Jawondo     Budo Egba     Shola Odetundun     International Vocational Centre     Senate Presidency     Y.A. Abdulkareem     Savannah Centre For Diplomacy, Democracy And Development     Bamidele Adegoke     Sabi     Bayer AG     Amuda Bembe     Olabode Towoju     Salary     Ibrahim Abiodun     Theophilus Oyebiyi     Turaki     Fareedah Dankaka     Admiralty Villa     Oloriegbe     Kolawole Akande     Gaa Olobi     Abdulkadir Remi Hawawu     Sabi     Alabere     Share     Abdulazeez Uthman     Saadu Alanamu     Usman Rifun     Christopher Tunji Ayeni     Rapheal Ashaolu     Samari     Dagbalodo     Wahab Femi Agbaje     Joseph Yemi Ajayi     Gbemi Saraki     Bolaji Abdullahi     Crystal Corner Shops     Mopelola Abdulmaliq-Bashir     Baruten     College Of Arabic And Islamic Legal Studies     Sabitiyu Grillo     Simeon Sayomi     Oyedun Juliana Funke     Saad Omo\'ya     Elesie Of Esie    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Innocent Okoye     KWASEIC     Ahmed Idris Mohammed     Lasiele Alabi Yahaya     Presidential Election     Abdulwahab Ololele     Bola Sagaya     Face Masks     Samari     IEDPU     NULGE     Eruku     Niyi Ogundiran     Bamidele Aluko     Garba Idris Ajia     Alapansapa     Yusuf Amuda Abubakar     Kayode Bankole     Mufutau Olatinwo     Alabi Lawal     Ministry Of Women Affairs And Social Development     Oluwatoyin Lukman     Kubra Kazum     Olugbense     Inside Kwara     Towobola Abdulrahman Toyin     Alore     Mogaji Aare     Umar Gunu     Oyelere Oyinloye     Kale Bayero     Saliu Tunde Bello     Unicontinental Construction Company     Tinubu     Sai Kayi     Christopher Ayeni     Ilesha-Gwanara     Olaoye B. Felix     Arca Santa     Standard Organization Of Nigeria     2017 Budget     Bayer Nigeria Limited     Road Transport Employers Association Of Nigeria     Haleeman Salman     Aliyu Muhammad Saifudeen     High Court     Bilikisu Oniyangi     A.G.F Abdulrasaq     Akanji     Chikanda     Ilorin South Constituency     Imam Gambari     Harmony Holdings     Hauwa Nuru     Tunde Akanbi     Doyin Group     NaAllah     Yahaya Abdulkareem     CCEPE     Mahmud Ayinla Giwa     Abdulrasheed Na\'Allah     Abubakar Abdulraheem     Rebecca Olanrewaju     3MTT     Ilorin Like-Minds     Split Diamond Interchange     Saliu Alamoyo     Nigeria Computer Society     Jare Olatundun     Tsaragi     Economic And Financial Crimes Commission     Ajase-Ipo     Obayomi Azeez     Apaola     KWASIEC     Congress For National Consensus     Joana Nnazua Kolo