NIIA boss, Onyekazi makes case for protection of INTELS investments
The ongoing legal bout between the Nigerian Ports Authority (NPA) and INTELS Group over a directive issued by the Managing Director, Hadiza Bala Usman, that every terminal in the port was free to receive any cargo as far as it has the technical competence to handle such goods has continued to elicit reactions for stakeholders.
Weekend, the National President of Nigerian Importers Integrity Association (NIIA), Godwin Onyekazi, said it was unfortunate that a simple business disagreement, which could have been amicably resolved “at the coffee table”, was allowed to degenerate to the point where more than 20,000 jobs are on the line.
According to him, “INTELS is a major operator in oil and gas, maritime and real estate industries. It is one of the largest employers of labour in the country and in the Niger Delta region. It should therefore concern any well-meaning Nigerian that NPA is unable to amicably resolve and manage its differences with such organization”.
“We have also read that INTELS is being persecuted because of its perceived links to a top politician in the country. This political dimension to the entire saga makes the intervention the Acting President Yemi Osinbajo imperative.
“We do not think that companies operating in the country should be subjected to political persecution especially at this time when the Federal Government is pushing hard for peace to reign in the Niger Delta region,” he said.
Onyekazi argued that the competition for oil and gas logistics is international and the loss of business by INTELS is the loss of business by Nigeria.
Continuing, he noted that “It is an exercise in delusion to think that there is any other facility in-country that can provide the type of services INTELS is providing to the oil and gas sector. The oil and gas majors will simply move to Angola, Sao Tome and Principe or South Africa to enjoy the kind of services they enjoy at INTELS if it is no longer in position to provide such service. The implication of this is huge revenue loss to the country and loss of jobs in the Niger Delta region”.
Corroborating issues with NIIA boss, a Senior Legal Manager of INTELS Nigeria Limited, Dominic Onwuchekwa, averred that the proposed de-categorisation of the terminals will not only jeopardise the prospect of the company recovering its investments under the concession agreement signed with the Federal Government, but will also undermine the commitments made to its lenders.
He said in discharging its obligations in accordance with the terms and conditions of the various Lease Agreements (including the Concession) with the Federal Government, INTELS has expended over $2 billion out of its own resources without amortization in various projects and has budgeted additional $5 billion in phased Port Terminals development and infrastructural renewal.
Business Hilights recalls that Justice A. R. Mohammed of the Federal High Court, had recently issued an interim order directing the Nigerian Ports Authority and four others to maintain the status quo in a suit filed by INTELS Nigeria Limited on the de-categorisation of terminals at the nation’s seaports.
