{"id":15685,"date":"2017-08-30T20:10:51","date_gmt":"2017-08-30T20:10:51","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=15685"},"modified":"2017-08-31T20:48:23","modified_gmt":"2017-08-31T20:48:23","slug":"abc-of-delta-line-divestment-n161m-bidded-n400-liability-company-value-n700-new-equity-holding-6040","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=15685","title":{"rendered":"ABC OF DELTA LINE DIVESTMENT: N161m BIDDED, N400M LIABILITY, COMPANY VALUE N700M, NEW EQUITY HOLDING 60\/40"},"content":{"rendered":"<div>The Chief Press Secretary to Governor Ifeanyi Okowa, Mr. Charles Aniagwu has said that the state government is to divest from the Delta Line Transportation Company for efficiency, profitability and effective service delivery.<\/div>\n<div><\/div>\n<div class=\"btArticleBody portfolioBody btTextLeft\">\n<div class=\"bt_bb_wrapper\">\n<div>Charles Aniagwu said during an interactive session with NUJ Warri Correspondents that the state government decided to adopt a Public Private Partnership arrangement to completely overhaul the transport company after carefully studying its activities over the past two years.<\/div>\n<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<div>According to him, available report on the operation of the company showed that the company over the years had not lived up to expectation, adding that it was indebted to organisations including government tax agency.<\/div>\n<div>He said that the preferred bidder was \u201cGod Is Good Motors\u201d, which was chosen because of its expertise in the motor transport business.<\/div>\n<div>He said that the equity holding was 60 to 40 per cent for the preferred bidder and to government.<\/div>\n<div>Aniagwu said that government was mindful of the need for a transport company that would be effective, efficient and affordable.<\/div>\n<div>According to him, the present administration in Delta State for about two years studied the state transport company before concluding on the need to divest through a PPP arrangement to restructure and make it profitable.<\/div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=14234&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<div>He said: \u201cGovernment engaged valuers who put the value of the company to about N700 million with liability of over N400 million to workers, Federal Government Tax Agency among others.<\/div>\n<div>\u201cThe preferred bidder will need to inject over N160 million to strengthen the company in order to keep it as a going concern.\u201d<\/div>\n<div>Aniagwu said that government would soon be signing a memorandum of understanding with the preferred bidder for effective take-off of the transport company, adding that though that the name \u201cDelta Line\u201d would remain.<\/div>\n<div>He, however, expressed optimism that with the intervention of a private concern, the enterprise could be revived, restructured and repositioned to engage more workers in the state also make profit.<\/div>\n<div>Aniagwu explained: \u201cWe have not sold the enterprise, what we did was to divest parts of our equity holding with a view to bringing in a private initiative to efficiently and effectively pilot the affairs of the organisation. \u201cThis is in order to ensure that the company serve the best interest of our people.\u201d<\/div>\n<div><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-15686\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu-300x216.jpg\" alt=\"\" width=\"300\" height=\"216\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu-300x216.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu-768x552.jpg 768w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu-1024x736.jpg 1024w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu.jpg 1069w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<p>According to him, the decision to partner with GIG was borne from the company&#8217;s track record in road transport business, in contrast to Labour&#8217;s performance in the same industry.<\/p>\n<p>Aniagwu explained that the NLC apart from bidding six month late didn\u2019t have the proven technical, operational and managerial competence to run such a company, stressing that the state government was interested in ensuring that Delta Line was run by competent hands that would ensure its continuous existence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chief Press Secretary to Governor Ifeanyi Okowa, Mr. Charles Aniagwu has said that the state government is to divest from the Delta Line Transportation Company for efficiency, profitability and effective service delivery. Charles Aniagwu said during an interactive session with NUJ Warri Correspondents that the state government decided to adopt a Public Private Partnership [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":15686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[2],"tags":[4044,4068],"class_list":["post-15685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state","tag-charles-aniagwu","tag-god-is-good-motors"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2017\/08\/Charles-Aniagwu.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-44Z","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/15685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15685"}],"version-history":[{"count":2,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/15685\/revisions"}],"predecessor-version":[{"id":15705,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/15685\/revisions\/15705"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/15686"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15685"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}