Intels: Why Atiku divested from our company

Intels: Why Atiku divested from our company

Tuesday, January 5, 2021 6:05 pm

Buhari and Atiku

Ayorinde Oluokun/Abuja

Integrated Logistics Services Limited (Intels) has disputed claims by former vice president Atiku Abubakar that President Muhammadu Buhari’s administration is hindering its operations in Nigeria because of politics.

Atiku, who contested for the 2015 president ticket of All Progressives Congress, APC which he lost to Buhari who went on to win the election made the allegation while confirming that he has divested from the company on Monday.

He also contested against President Buhari on the platform of Peoples Democratic Party, PDP in the 2019 presidential election.

Intel, a company co-founded by Atiku has been having running battle with the Nigerian Port Authority, NPA over remittance of taxes and other statutory funds as well as terms of its contracts with the Federal Government since the inception of the Buhari administration.

While confirming that he has sold off his shareholding in the logistic company on Monday, Atiku alleged the he was forced to divest from Intels because the Buhari administration has been doing everything possible to destroy it since 2015.

But in a statement by Tommaso Ruffinoni, its spokesman, Intels disputed the claim of the former vice president.

Rather, the company said Atiku decided to divest from Intel based on economic reasons and irreconcilable differences with its new governance structure.

“Intels Nigeria Limited and with it its parent company Orlean Invest Holding in relation to some statements that appeared in the press yesterday and today, categorically denies that its business has at some time been hindered by political influences from the current government,” it said.

“The company has always operated according to market logic, thanks to its history and commitment to the development of the Nigerian economy in the oil and gas logistics sector. The ongoing contradictions are part of a natural commercial divergence, which will hopefully be resolved, as in the past, by a new approach, in the interest of all the parties, also according to the social role that Intels plays in the country.

“The severance from the world of Atiku Abubakar was an economic decision, in the exclusive interest of the company, and to irreconcilable strategic differences with the new governance structure of the Intels – Orlean Invest Group.”

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