Under the purview of the Nigerian Ports Authority, the Integrated Logistics Services Nigeria Limited (Intels), Nigeria’s leading logistic firm for the oil and gas industry hold concession of the biggest platform for oil and gas in the nation. The company collect revenue on behalf of the nation in the south-south port location in Rivers State and shares it accordingly.
Intels which was co-founded by former Vice-president and chieftain of the All Progressives Congress, Atiku Abubakar; and an Italian businessman, Gabriel Volpi, in the 1980s. According to Atiku while launching his 2015 presidential bid in September 2014, “Intels my most successful business”. Although many believed Atiku mostly acquired this enormous wealth using his political might to amass vast hectares of land from an oil rich state that belong to the common wealth of the nation. According some interest group within the oil producing areas, the political elite are using undue political advantage ones they get into power to cart away or treasure partnering with foreigners.
Presently, Intels holds the concession for the building and operation of most of Onne Port in Rivers State. The port has two terminals: Federal Ocean Terminal (FOT), and Federal Lighter Terminal (FLT). The FOT, has four phases, of which three have been completed with 11 berths and are being operated by Intels.
According to records Intels was responsible, on public-private-partnership basis, for the development of the FLT, commencing 1982 when it was “under-used”; and operates its second, third and fourth berths. Another concessionaire, Brawal, operates the terminal’s first berth.
Onne is the most important hub for oil and gas industry in Nigeria, accounting for 65 per cent of cargo export through the country’s sea, according to NPA, and hosting operations of all major oil and gas companies within its massive free trade zone.
So, over the years, Intels has made billions of dollars from the port, through near monopolistic operations, which it helped develop as concessionaire; and created thousands of jobs, apart from making billions for Atiku and his foreign partners. But come to think of it, if Atiku did not take this step other foreign individuals would have done it and the earning they make would have ended up in foreign banks. so which one would you prefer. There are politician today who stole the Nigerian common wealth and all they have to show for it is foreign bank account that earn interest and create job only to foreigners. What a pity!
Intel How Atiku Became A Multi-billionaire After Amassing Nigeria Common Wealth
