Intels vows to fight termination of agreement with NPA

The Management of Intels Nigeria Limited, Nigeria’s Oil and Gas logistics giant, has kicked against the termination of its Pilotage Agency Agreement with the Nigerian Ports Authority (NPA).

Intels said the Agency Agreement termination is “clearly preposterous and the consequences highly injurious” to the interests of Nigeria.

Intels added that the decision by NPA to terminate the Agency Agreement was totally unexpected in consideration of the meetings held by the parties and exchange of letters.

“Hence, in compliance with the Art. 12 of the Agency Agreement between the NPA and Intels, we hereby request you to schedule a meeting within 7 days from the date of this letter, in order to analyse the residual critical areas of our relationship and to agree, to the possible extent, on a common solution.

“Should this not happen, we hereby notify you that, in accordance with Art. 13 of the Agreement, we will refer the matters to Arbitration, in order to safeguard our Company from the significant damages and other adverse consequences that may result from this rather unbecoming decision.

“We wish to reach an amicable solution as soon as possible for this complicated matter so that we can avoid to request for the intervention of the Court for the immediate payment of any amount due to us from NPA also in light of the likely pressure for action from our banks, which we may be compelled to do, despite our unwillingness,” the company stated in the letter.

Intels also stated that the “unjustified decision” by NPA would hurt Nigeria’s international credit rating and scare away much needed foreign direct investment.

“Among them we cannot avoid to mention Intels itself, which has planned to make the investment for the largest African port in Badagry, for an amount of several billion dollars,” the company stated.