N403bn debt: NPA enters boxing ring with Intels

Kindly Share This Story:

The controversies between Nigerian Ports Authority (NPA) and Intels Nigeria Limited over estimated $1.3 billion (N403 billion) revenue in port leases and services, appears to be escalating with NPA turning over fresh details to the National Assembly.

Intels had alleged that NPA was owing it $840 million and has subsequently pursued the payment petitioning the National Assembly. However, NPA is now claiming that Intel has been sitting on its revenue amounting to about $952 million and another N3.3 billion.

In a letter to the Chairman, House Committee on Marine Transport, the Managing Director of NPA, Ms Hadiza Bala Usman, said Intels is indebted to the NPA in the Onne and Warri ports in respect of rents, lease and throughput fees.

She stated: “Intels has been collecting dues and charges on behalf of the agency since 2010. It is Intels that is rather indebted to NPA in respects of rents at its Onne base which currently stands at N3.3 billion.”

The letter also stated: “The total agency commission to Intels computed in line with the executed agreement was $353 million for the period under review. This amount was deemed to have been deducted electronically from service boat revenue by Intels in accordance with subsisting agreement.

The total sum of $68million is currently in Intels custody, pending the issuance of credit notes for project and finance costs.”

Meanwhile, efforts to get the NPA to comment yielded no fruit as at the time of filing this report. Its General Manager, Public Affairs, Mr Mike Ajayi, who promised to get back never did. Also, efforts to get comments from Intels failed as its media consultant, Bolaji Akiola, could not get back with a response.

Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

%d bloggers like this: