By Olanrewaju Joseph (SIWES Student OSCOTECH)
The withdrawal of pilotage management from Integrated Logistics Services Nigeria Limited has resulted in a $161 million loss for the Federal Government, according to the Nigerian Ports Authority (NPA).
The NPA cited a lack of necessary technology for monitoring operations as the primary cause for the financial setback.
Following the expiration of the service boat management agreement, the NPA assumed control, but the absence of essential monitoring technology led to a significant decline in expected revenue.
An analysis revealed a sharp drop from $216 million and $209 million in 2014 and 2015, respectively, under INTELS agency, to $130 million and $99 million in 2020 and 2021 after the NPA took over. The situation worsened in 2023, with only $55.3 million collected up to June.
Former Vice President Atiku Abubakar recently disclosed selling his interests in INTELS.
As part of efforts to resolve the conflict, INTELS waived over $193 million in debt, with the NPA stating that the agreement was reached in the national interest.
In a memo titled ‘Reinstatement of INTELS Nigeria Limited as the authority’s service boat operations monitoring provider in the pilotage district,’ the NPA extended the service boat operation agreement with the company.
