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he Kwara State Government has repealed the State Transport Corporation Law Cap.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.

Raji Ayodele Kamaldeen     Elese Of Igbaja     Azeez Salawu     Adebara     Hikmah AbdulKareem     Alaiye     Ronke Adeyemi     Kabir Shagaya     Folashade Omoniyi     Playing Host     Majlis For Sadaqah, Zakat And Waqf     Abdulraheem Yusuf     Durbar     Akume     Illyasu Abdullahi     Oko     IPSAS     Noah Yusuf     Oloyede     Eleyele     Lanre Olosunde     Moses Rahman Popoola     Col. Adedipe     Ayobami Akanbi     Rashidi Yekini     Ilorin South Constituency     Saka Asiat Ayinke     Borgu     Patigi Regatta     Abdulmajeed Abdullahi     Salihu Yahaya     Babatunde Idiagbon     Abdulquowiyu Olododo     Aso Ofi     Isiaka Abdulrazak     Aliyu Kora Sabi     National Pilot     Kwara Consultative Forum     Usman Alkali Baba     Ahmed Dankaya     Kolawole Akande     Ojo Fadumila     Bamidele Adegoke     John Obuh     Henry Makinwa     Femtech     Eruku     Ilorin General Hospital     Bola Magaji     Ayo Adeyemi     Kwara Politics     Shaaba Lafiagi     Flights To Ilorin     Kaosarah Adeyi     Ganmo Electricity Sub-Station     Gbugbu     Bolakale Saka     Abdulmumini Sanni Jawondo     Federal Polytechnic Offa     Lanre Aremu     Abdulkadir Remi Hawawu     Idris Garuba     Umar Adelodun     Madawaki Of Ilorin     Abubakar Abdulraheem     Idris Garba     Saduki Lafiagi     Photo News     Kwara State Printing And Publishing Corporation     Dorcas Afeniforo     Baba Isale     Issa Manzuma     Sanusi Abubakar     Aasiyat Bello Oyedepo     Ibrahim Abdulqadir Abikan     Ibrahim Abdullahi     Suleiman Rotimi Iliasu    

Cloud Tag: What's trending

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

Kwara Volleyball Association     Tosin Saraki     Col. Adedipe     Sayomi     Sabo-Oke     CCB     Dar-Al-Handasah Consultants     Maigida     Bahago     Wole Oke     CLAY POT     Salman Alada     Kola Olota     KW-GIS     Olateju Lukman     Shonga Farm Project     Tayo Awodiji     Jare Olatundun     Abdul-Rasheed Na\'Allah     Isiaka Rafiu Mope     Funmilayo Zubair     Tunde Kazeem     V.O. Abioye     Igosun     Tsado Manman     Baba Isale     Abegunde Goke     Olufolake Abdulrazaq     Akeem Lawal     Moses Adekanye     Dan Iya     Yusuf Olaolu Ali     Ibrahim Labaika     Abdulganiy Abimbola Abdussalam     Ilorin East/South Federal Constituency     Just Law Forum     Mustapha Olanipekun     Yusuf Abdulkadir     LABTOP     Abubakar Baba     Fola Consultant     College Of Health     Laboratory-to-Product     Saba Mamman Daniel     Babaita     Valsolar-Kwara Company Limited     Nigerian Medical Association     JAAC     Abdulrazaq Sanni     Rachael Obisesan     AbdulFatai Adeniyi Dan-Kazeem     Tunde Yusuf     Usman Alkali Baba     Saadatu Modibbo-Kawu     Olomu     TESCOM 2025     Zaratu Umar     Communication Network Support Services     Olofa Of Offa     Michael Imoudu National Institute For Labour Studies     Funke Adedoyin     Abdulraheem Olesin     Salihu S. Yaru     Sulyman Abdulkareem     Kpotum Mohammed Baba     NYSC     Oladipo Akanmu Tolani     Amusa Bello     ASMAU PLAZA     Umar Sanda Yusuf     Just Event Online     David Adesina     Issa Memunat Moyosore     Suleiman Idris     Federal Polytechnic Offa     Binta Abubakar Mora     Shehu Raheem Adaramaja