Dada Olusegun, the Special Assistant to President Bola Ahmed Tinubu on Social Media, has taken a firm stance to distance his principal and former Vice President Atiku Abubakar from any ownership ties to the oil and gas logistics company, Integrated Logistic Services Nigeria Limited (Intels).
Recent reports had circulated, suggesting that Tinubu had acquired shares in Intel and awarded contracts to the firm.
Additionally, there were claims that Atiku retained shares in the logistics company.
In a statement titled ‘Quick one on NPA and INTEL,’ shared on his social media handle on Sunday, Dada categorically dismissed these reports as delusional.
He refuted the notion that Atiku still holds any interest in Intel or that Tinubu had acquired shares in the company.
Read his statement below:
Quick one on NPA and INTEL
– Nigeria’s annual revenue generation from boat service operations dropped from over $200m annually, to around $50m after the termination of contracts between the NPA and its lead boat service operator in 2020; INTEL Nigeria Limited.
– On September 1, 2020 the Lagos Pilotage District (LPD) of the NPA said the operations being handled by Intels has been terminated and as such all service boat owners should deal directly with the Port Authority.
– Due to lack of operational capacity and experience, the handlers could not meet up with delivery which affected revenue generation via that window.
– On assumption of office, the new administration led by President Tinubu assigned officials to look into areas of revenue leakage across the country and the boat operations contract terminated in 2020 was listed as a window through which Nigeria was losing over $150m annually.
– Conflict resolution was the way as Nigeria needs to shore up revenues at a critical time and thus an endorsement was given to INTEL to resume operations in November 2023.
– A reminder that former Vice President Atiku had already sold his stake in the port over 3 years ago and any idea of political patronage should be disregarded.
– INTEL is now fully owned by Orleal Investment Group, the parent company, which bought Alhaji Atiku’s shares for amounts totalling over $100 million in a move that ended the working relationship of his two sons, Adamu and Aminu Atiku Abubakar, with the company, after several years.
– It is therefore delusional to believe either of the claims making round that Alhaji Atiku still has interest in Intel or that President Tinubu returned their contract because he bought shares in the company.
