Intels Nigeria Limited (INL), a company co-owned by former vice president, Atiku Abubakr, has vowed to sue the Buhari government over termination of its Pilotage Agency Agreement by the Nigerian Ports Authority (NPA).
Intels on Wednesday, disclosed that following a letter from the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), to the Managing Director of NPA, Ms. Hadiza Bala-Usman, directing termination of the pilotage agreement, NPA ended the contract on Tuesday, October 10, 2017, without inviting it as the other party to the agreement for negotiation or due recourse to the terms of the agreement that specify conditions precedent before a party can exit the contract.
Intels stated that that the termination of the agreement which was conveyed to the firm in a letter signed by the NPA boss on Tuesday, was “clearly preposterous and the consequences highly injurious” to the interests of Nigeria.
Intels said the action by NPA would force it to reconsider its multibillion dollar investment at the Badagry deep seaport in Lagos, adding that the investment would have created thousands of direct and indirect jobs for Nigerians.
It noted it had invested too much in the country and if the Nigerian government was not prepared to respect the sanctity of its contract, it was ready to head to the courts to challenge NPA’s action.
Intels gave NPA seven days from Wednesday to reconsider the residual critical areas of their relationship and to agree, to the possible extent, on a common solution, failing which it shall head to arbitration