Atiku Sells Stakes In Intels, Cites Political Interference

Atiku Sells off Stake At Intels

A former Vice President, Atiku Abubakar, has completed the sale of his shares in Integrated Logistics Services Nigeria Limited (Intels.)

Intels, an integrated logistics services company operating in the Nigerian oil and gas industry, had been embroiled in a battle with the Nigerian government over its operations.

A statement issued in Abuja on Monday by his media adviser, Paul Ibe, said the decision to sell off Atiku’s shares was because President Muhammadu Buhari’s government was destroying legitimate businesses.

He alleged that the action of the government had led to the loss of thousands of jobs.

According to the statement, the former Vice President sold his shares in Intels and channeled the funds to other sectors of the economy.

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Atiku, was a presidential candidate of the opposition, Peoples’ Democratic Party in the 2019 general elections, where President Muhammadu Buhari, emerged as president.

“It assumed greater urgency in the last five years, because this government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics, ” the statement read in part.

“There should be a marked difference between politics and business.”

In 2017, President Buhari approved a policy review that broke the dominance of Intels in the handling of oil and gas cargoes at the ports.

Also, in September this year, the management of the Nigerian Ports Authority terminated a boat operation contract being handled by Intels.

In a marine information shared on September 1, Lagos Pilotage District of the NPA said the service hitherto handled by Intels had been terminated.

The LPD therefore directed all service boats owners and operators to do transactions directly in each of the Port Complex of the NPA.