Nasarawa government handover management of N3.1bn bus terminals to Diamond Stripes

Nasarawa State Government has handed over the management of the newly constructed N3.1 billion Lafia and Karu Mega Bus terminals to Diamond Stripes, saying, such partnership is the only sure way that government can appreciably get return of its investment.

The state government has also established the Nasarawa Transport Company.

The company is expected to run the two facilities in collaboration with key stakeholders in the transport business, such as the National Union of Road Transport Owners and National Union of Road Transport Workers, among others.

The state government handed over the structures to the private transport firm during the signing of two joint venture agreements at the government house in Lafia.

With the agreements in place, Diamond Stripes, a major player in the transport industry, will take control and manage the two Mega Bus Terminal, under the supervision of the company.

Nasarawa State governor, Abdullahi Sule, who spoke shortly after the ceremony said, the signing of the agreements was in fulfilment of the desire of his administration to introduce innovations in the business of governance.

“We came with a dream to do things differently and I think this is one of those things.

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“We have now completed the terminus and Mr President is coming next week to be able to commission this project,” he said.

Governor Sule added that, with the signing of the two agreements, the two facilities will commence operation once they are commissioned, unlike in the past when it may take months for such facilities to be put to use.

He explained that it has become necessary to concession the terminus to a private company because it has been proven severally that government is not a good manager of business enterprises.

Sule said, it is only through such arrangement that government can be able to get returns on its investment and to be able to channel the proceeds towards other development initiatives.

He commended key stakeholders in the transport sector such as NURTO, NRTW, VIOs, and he expressed satisfaction that critical partners are also involved in the consession arrangement.

“We are able to bring a reputable organisation that can do this. And we are able to get local people to be involved so that when are getting ready to employ people who will manage this company, we look forward to somebody like the chairman to make sure that local people are actually employed,” he stated.

The governor disclosed that the Karu Mega Bus Terminal has captivity for 900 vehicles while that of Lafia can contain 240 vehicles.

While assuring both NURTO and NURTW of adequate space to accommodate their vehicles, the governor urged officials of the two transport unions to collapse all other bus stops within Lafia and Karu into the two new facilities.

Victor Terra, Chairman of Diamond Stripes thanked Nasarawa State Government for its venture into the transport sector.

Terra said, the signing of the agreement gave birth to the new special purpose vehicle, the Nasarawa Logistics and Transport Company.

He expressed the determination of his company to partner with stakeholders in the transport business, for the optimal use of both the Karu and Lafia terminus, especially that they have bought into the project.

Terra announced that his company will flag off activities at the two terminus with 100 buses, which will be increased to over 200 within six months. Already, some of the buses have arrived Lafia, the state capital.

The Diamond Stripes chairman disclosed plans to also extend similar facilities across each of the three senatorial districts in the state.

The MD and CEO Nasarawa Investment Development Agency (NASIDA), Ibrahim Abdullahi, was the vision of the governor towards industrialization of Nasarawa State, as well as increased private sector participation.

Abdullahi said the event brought two gains for the state.

“With the handover, you are ushering in a brand new Nasarawa Transport Company, that is private sector financed and private sector led.

“On the other hand, you are putting into use a critical infrastructure that you built. This is what we call the Nasarawa Integrated Transport Project,” he explained.