THE NEWSGHOST, NIGERIA – Integrated Logistics Services (Intels), a company co-founded by former vice-president of Nigeria and chieftain of the All Progressives Congress (APC) Atiku Abubakar, sues the federal government (FG) of Nigeria to court over alleged breach of a lease agreement on the ports in Onne, Calabar and Warri.
Reports says the company filed a suit on June 4, 2017, following a port policy review by the Nigerian government in May that violated an October 24, 2005 lease agreement that government had entered with the company with respect to the Warri New Terminal, Warri Old Terminal, Calabar Terminal B, Federal Lighter Terminal B (Onne) and Federal Ocean Terminal A (Onne).
After President Buhari’s approval for a policy review in designation of ports operations which insisted that ports operations must be designated in accordance with global practice, the Onne Port controlled by the company and previously designated as ‘Oil and Gas Multi-Purpose Cargo Terminal’, because NPA had designated the ports in Onne, Calabar and Warri to deal in oil and gas because of their proximity to oil wells and the significance of the oil industry to the national economy, became open to all categories of cargoes.
The president’s approval also guarantee that, ‘all importers are free to choose any terminal or port for the discharge of their cargoes.’
As a consquence of this, the company has lost the monopoly it enjoyed. Now it is seeking a federal high court in Abuja to challenge the policy review by the government, so that it can continue enjoying its monopoly and secure its return on investments.
The company was co-founded by Atiku Abubakar, former vice president of Nigeria, and Gabriel Volpi, an Italian businessman, in the 1980s.