He said the company was supposed to be engaged in broad-based business activities such as plant assembly of vehicles, insurance brokerage, and even own an airline. Expansion of its capital base, therefore, remains the greatest challenge faced by the company.
One of the Policies of the Gen. Ibrahim Babangida (rtd) administration was the establishment of the Federal Urban Mass Transit programme, which was expected to stem the monopoly of private participation in the Nigerian transport Sector.
To provide affordable transportation for all Nigerians, the Federal Government instituted that Mass Transit Scheme to be domesticated at the state and local government levels.
Apart from providing transportation services, the scheme was also expected to be self-sustaining as a business concern. This led to the establishment of Mass Transit outfits in the various states of the federation.
The Rivers State Transport Corporation, an existing parastatal under the state Ministry of Transport was transformed on this mandate as a limited liability company, to render social services and also run as a business concern for the state.
It was basically a mixed grill of policy thrust, that were in reality opposed each other. The operations of the company were thus trapped in this seeming contradictions, with successive administration grappling with the dilemma of fluctuating fortunes and limited successes.
Its operations were undoubtedly prone to political interferences, concessions and vested interests that undermined the very objective of its creation, as its administrators were appointed from outside to run the company.
It was in this sorry state that the present management of the company inherited the leadership of the company.
The present acting General Manager of the Company, Mr. Peter Borlo said management saw the prevailing situation at the corporation as a challenge and swung into actions several strategic plans for revamping the faltering fortunes of the company.
Borlo, a pioneer staff of the company who rose through the rank and file, got the nod of staff of the company to carry out his radical reforms, when he was thrust with the responsibility to serve as an acting general manager.
As the first general manager to to be appointed from within the company, it was easier for the workers to key into the new vision with target set for everybody.
It was therefore a moment of reflection, appraisal and stock taking, last Thursday as the company, marked its 20th anniversary as a corporate institution. It was also an opportunity for stakeholders to score the Rivers State government-owned Transport Company, 20 years after.
Staff of the company and guests gathered at the company’s corporate office in Port Harcourt to mark the event. The mood of the anniversary was set by the acting General Manager of the company, Mr. Peter Borlo, as he urged the staff to see the event as “a period of rededication and rekindling of faith in the resolve to confront the challenges of enterprise and growth”.
As a limited liability company, the General Manager noted that it required discipline and commitment on the part of staff to re-write the story of RTC and achieve its vision and