Developing: Governor Okowa Sells Delta Line Company For N161m, Fingered In Buy-off

Delta Line Buses

Delta State Governor, Senator Dr Ifeanyi Okowa has sold Delta state Transport Services Limited to a private firm allegedly linked to him.

The outfit has been allegedly sold at the cost of N161million naira against the N2billion bid by the Nigerian Labour Congress, BigPen Online has gathered.

The company was sold to the Ajaere family – owners and managers of one of the most successful passenger carrier companies in Nigeria, GIGM.com, (God is Good Motors).

God is Good Motors, currently being run by Mrs Stella Ajaere alongside Chidi, wife and eldest son respectively of the late businessman Deacon Edwin Ajaere who passed away in 2009, funded Okowa’s election in 2015 by provision of buses for his campaign.

GIG Motors since then has been enjoying payback patronage from Okowa since inception and in the middle of the buy-off of which the Governor is linked.

Credible sources revealed that the new buyer who bought 70 percent equity share of Delta state Government in the business is fronting for Okowa and would run the company with the name Delta Line Transport Service Limited for a period of five years after which it would take full possession.

The Delta Line which has been ran aground during the management tenure of Mr. Isaiah Eyione who was sacked by Okowa on assumptions of office, is indebted to Zenith Bank and Wetland Micro Finance Bank which funded the purchase of buses leased to them.

Within the period of 2012 to April 2015, when former governor, Dr Emmanuel Uduaghan held sway as Executive Governor of the state, the company enjoyed so much incentives and grants as he (Uduaghan) reportedly released a grant running into about N4.5billion over a period of four years to the outfit.

Uduaghan was said to have also gave the company 65 units of brand new Toyota Corolla cars valued at N300milion and in 2009, another 150 Units of Toyota Hiace buses valued at N1.2bilion were given to the company.

Also, in 2010, another 20 units of Toyota Hiace buses were given to the company by the state government valued at N140 million while in 2011, 15 units of buses valued at N105million were also given to Delta Line.

Despite these allocations of buses which were working on a daily basis before some of them were reportedly ran aground, the company’s management had allegedly failed to expand the company’s route and give account of how the buses were being managed till date.

BigPen Online gathered that since Okowa tenure, the transport company which also runs a Waterway Line and was generating about N2.5 million daily and an average of N80million in a month have not gotten a dime as grant to revamp the business and any incentive for running of the firm.

This is a developing story. Check here for more updates…

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