15 February 2017, Lagos — The Nigerian Ports Authority, NPA, has denied billions of Naira indebtedness to Intels logistics saying that “Intels is indebted to the Authority in Onne and Warri ports in respect of rents, lease and Throughput fees.”
In a letter to the Chairman, House Committee on Marine Transport, the Managing Director of the NPA, Ms Hadiza Bala Usman said that Intels has been collecting dues and charges on behalf of the Authority since 2010.
Usman said that it is Intels that is rather indebted to the NPA in respect of rents at its Onne base which currently stands at N3.3 billion as against $1.03 million on lease and throughput fees.
Usman noted that in the period under review, Intels remitted a total of $343,357,709 only from services boats’ revenue representing 27 percent of total service boats’ revenue collected by Intels on behalf of the Authority.
She explained that despite all the deductions made by Intels from collected revenue, no credit notes were issued, a development she said was against the subsisting agreement between both parties.
The Authority’s boss also decried the fact that Intels went into a loan agreement without NPA’s consent, a development that has further impaired the Authority’s finances.
Parts of the letter reads “The jointly reconciled service boat revenue collected by Intels for the period from January 2010 to September 2016 was $1.2billion in addition to the sum of $41 million being revenue for the period October to December 2016 has not been reconciled yet.
“In the same period under review, Intels remitted a total of $343.3 million only from service boats’ revenue collection.
“This represents 27 percent of total service boats’ revenue collected by Intels on behalf of NPA.
“The total agency commission to Intels computed in line with the executed agreement was $353million for the period under review.
“This amount was deemed to have been deducted electronically from service boat revenue by Intels in accordance with the subsisting agreement.
“The total sum of $68million is currently in Intels custody, pending the issuance of credit notes for project and finance costs.”
On the issue of amortisation, the NPA boss explained that it is a process designed to enable Intels recover the cost of its investment in the development of ports infrastructures at Onne port, River State Bullnose in Apapa port, Lagos from service boats’ revenue to NPA.
She also said that the management of NPA has been discussing with Intels on the best approach tp adopt to ensure full compliance with Treasury Single Account, (TSA) while ensuring that the execution of the ports infrastructural development is not hindered.
*Godwin Oritse – Vanguard