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Tag: Revenue

  • Lagos generated N503.7bn in 2017 despite recession – Ambode

    Governor Akinwunmi Ambode of Lagos State on Thursday said the state generated a total of N503.7billion revenue in 2017 despite the harsh economic climate in the country.

    Ambode spoke at the state’s first quarter 2018 Town Hall Meeting in Ikeja.

    The governor said he would vigorously pursue all infrastructure projects and remain focused to the task of building a virile Lagos.

    “Despite the harsh economy, our state budget performed at 82 per cent.

    “Total revenue generated was N503.7bn representing a performance of 78 per cent; total recurrent expenditure was N281.33bn representing a performance of 92 per cent, while total capital expenditure was N387.60bn or 76 per cent performance,” the governor said.

    Ambode said the state was entering into the New Year with confidence of being on a solid prosperity footing, with interesting prospects for all Lagosians.

    He said it was gratifying that the support of the people enabled government to achieve a lot and commence the transformation of the landscape of the state.

    Ambode listed some of the key projects delivered last year to include the new Tafawa Balewa Square Bus Terminal, new Ojota Pedestrian Bridge, Aboru-Abesan Link Bridge and adjoining inner roads.

    He cited others as Ojodu Berger Slip Road and Pedestrian Bridge; Jubilee Bridges in Ajah and Abule Egba; Freedom and Admiralty Road in Lekki; new Lands Registry; newly upgraded Jubilee Chalet in Epe, among others.

    Giving a report of activities of his administration in the last quarter, Ambode said the state government commissioned the first state-owned DNA Forensic Centre.

    He said in the coming weeks, he would sign a contract to upgrade the facility to offer toxicology services.

    “In fulfilment of our promise to our students in tertiary institutions across the state, this administration disbursed a total sum of N635.5million to 8,419 students across the state.

    “Our government acquired healthcare equipment worth N2.5 billion.

    “The equipment will strengthen the capacity of our health facilities to render improved health services and also facilitate smooth take-off of the Lagos State Health Scheme, which is designed to enable residents enjoy unfettered access to qualitative healthcare,’’ he said.

    Giving an outlook on 2018, Ambode promised that he would sustain the momentum of development and vigorously pursue all ongoing projects, with special focus on health and education.

    In the 2018 Appropriation Bill of N1.046 trillion awaiting approval of the House of Assembly, the state government has earmarked N92.676 billion for health, representing 8.86 per cent.

    The state also earmarked N126.302 billion for education, representing 12.07 per cent of the budget.

    Ambode assured the residents that the state government, in the coming weeks, would pay compensation to all those whose structures gave way for construction of the 1.4 kilometre Pen Cinema Flyover/Bridge.

    He said the government would also pay compensation to those affected in Igbogbo, Ikorodu, Owutu and other areas where construction activities were ongoing.

    The governor, who entertained questions from residents, ordered the Public Works Corporation to immediately move in to fix bad roads in Computer Village, Abesan Estate, Oriade, Abule-Egba, among other areas.

    Ambode also revealed that the Market Development Board would be inaugurated in coming weeks.

    He expressed optimism that when functional, the board would address issues of market relocation for developmental projects, just as he said that the Onikan Stadium would be ready in January 2019.

    Ambode urged all taxpayers to be alive to their responsibility of fulfilling their obligations to the state, saying regular payment of taxes remains the major source of funding infrastructures.

    He assured the people that the government, on its part, would judiciously utilise the taxes to make life comfortable for the people.

     

    NAN

  • We generated N12bn revenue in 2017 – JAMB

    The Joint Admissions and Matriculation Board (JAMB) on Monday said it generated N12 billion as revenue in 2017.

    The registrar of the board, Ishaq Oloyede, said this at a press conference in Ilorin on Monday.

    The registrar said the board remitted N7.8 billion to the Federal Government after deducting its expenses.

    According to a report from The Punch, Mr. Oloyede said JAMB was able to remit the huge amount of money to the Federal Government because it blocked loopholes and checked wastage

    He said although JAMB is not a revenue-generating agency, it is also not a money-wasting establishment.

    Mr. Oloyede said 1.7 million candidates sat for the last UTME, in addition to over 200,000 direct candidates, noting that the board expects two million candidates to sit for its 2018 examination.

    “The board had also devised means to check unscrupulous activities of candidates who do multiple registrations by deliberately writing their names wrongly with the intention to claim the result of the one with the highest score and thereafter demand correction of the name claiming that the fault is not theirs,” he said.

    The board also said its findings showed that about 80 per cent of first class graduates of Nigerian universities scored below 200 in the UTME they sat for while applying for admission.

    Mr. Oloyede said most of the first-class graduates from the nation’s universities were not exceptional but merely scored average marks in their Unified Tertiary Matriculation Examination.

    He said the board took statistics of the first-class graduates across the nation’s universities.

    According to him, the findings showed that about 80 per cent of the graduates scored below 200 in the UTME they sat for while applying for admission to the university.

    “There have been instances where candidates with poorer scores were dropped to less competitive courses but later crossed to the more competitive ones and emerged as the best during their graduation, in those courses”, he said.

    He said the cut-off mark that JAMB put at 120 for 2017/2018 admission was a benchmark for admission of candidates and not a score for automatic admission.

    “Some affiliated institutions were urging reduction of cut-off marks adopted by their parent universities. The affiliates had approached the Minister of Education, Mallam Adamu Adamu, to ask JAMB to prevail on the universities to reduce the cut-off marks. The affiliates were complaining that they were finding it difficult to get candidates to admit with the cut-off marks.

    “Another technological means was devised to check cyber cafe operators from exploiting candidates who register for the UTME in their cafes while the Central Admission Processing System was introduced to ease processes of admission of qualified candidates”, Mr. Oloyede concluded

    The Joint Admissions and Matriculation Board, JAMB, is Nigeria’s entrance examination board for tertiary-level institutions.

    The board administers similar examinations for applicants to Nigerian public and private universities, monotechnics, polytechnics and colleges of education.

  • FAAC: FG, States, LGs share N609.95bn revenue in November

    The Federation Account Allocation Committee (FAAC) distributed N609.95 billion to Federal, States and Local Governments as revenue generated in November.

    This is N77.25 billion more than what it shared in October, Ahmed Idris, the Accountant-General of the Federation said.

    Mr. Idris said that after the cost of collection deductions by FIRS, Customs and DPR, the Federal Government received N248.2 billion, representing 52.68 per cent; the states got N125.9 billion, representing 26.72 per cent and the 774 local councils received N97.06 billion, amounting to 20.60 per cent.

    According to Mr. Idris, oil producing states got N54.48 billion, which represents the derivation share of 13 per cent.

    He said the country generated N356.07 billion as mineral revenue and N193.46 billion as non-mineral revenue in November, both showing improvements over the earnings in October.

    Mineral revenue increased by N38.78 billion, while non-oil mineral revenue also jumped by N68.65 billion.

    Mr. Idris said oil revenue continues to be negatively impacted by low production due to poor maintenance, sabotage and the Force Majeure declared at Bonny Terminal.

    He said the balance in the Excess Crude Account (ECA) as at Dec. 15 remained $2.317 billion. He also put the balance in the Excess Petroleum Profit Tax account, at $133 million.

    Mr. Idris said the Federation Account has received instruction from the National Economic Council that $1 billion be removed from ECA to fight Boko Haram.

    “The instruction has been given. But there is a process before money is taken out of an account. So unless that withdrawal is made, the balance remains the same.

    “On what the money will be used for, the appropriate institution will have to give you that, namely the military, who are the ones that will utilise the money, and they know their needs,” he said.

    On why the money is being taken from the ECA, Mr. Idris said everyone should know that it is a savings account and ordinarily should have been distributed to the three tiers of government.

    “So if the same owners decide that part of it should be utilised to secure the country, to secure the system, to make the system work and provide security for life and property, I don’t think it should be an issue.

    “If the Governor of Ekiti has a problem with that, he should have made his position known to his forum, which is the Governor’s Forum.

    “His dissension should not come to me on the pages of newspapers. He is entitled to whatever, but it should be directed to the appropriate place,” he said.

    Meanwhile, Mahmoud Yunusa, the Chairman, Commissioners of Finance Forum, said the distribution was timely, as it would enable states and local councils to pay workers ahead of Christmas.

    NAN

     

  • FG, States, LG share N637.7bn revenue in September

    The Accountant-General of the Federation, Mr Ahmed Idris, has disclosed that the Federal Government, States and Local Governments shared N637.704 billion in September.

    Idris made this known at the end of the monthly Federal Accounts Allocation Committee (FAAC) meeting on Thursday in Abuja.

    He said that the sum indicated a rise in the revenue shared by the three tiers of government of N169 billion for September compared to about N467.8 billion shared in August.

    According to him, the sum is inclusive of Value Added Tax (VAT).

    “Total revenue statutory gross is N550.992 billion, there is also an element of VAT of N86.712 billion, making it a total of N637.704 billion.

    “And this figure is distributed among the three-tiers of government after deduction of relevant cost of collection due to the revenue generating agencies.

    “On the whole, the Federal Government out of the gross statutory revenue got N263.609 billion, States received N132.184 billion and Local Government received N101.908 billion.

    “On the whole, it is evident from the records and from what we have distributed today that the figure distributed this month is by far greater than the distribution for the previous month by N169,852 billion.”

    According to Idris, there is derivation to the oil producing states of N41.977 billion.

    He said there was also an element of value added tax that was generated to the tune of N86.712 billion which was distributed among the three-tiers of government.

    He said the Federal Government got N12.87 billion; State government got N41.622 billion while the Local Government got N29.135 billion, “making a total of N83.244 billion; that is after deduction of cost of collection’’.

    Idris said that the balance in Excess Crude Account (ECA) stood at 2.309 billion dollars as at Sept. 27, 2017, adding that, “there is also the excess Petroleum Pofit Tax (PPT) of 68 million dollars”.

    He said that during the period under review, there was a decrease in the average price of crude oil from 51.05 to 50.44 dollars per barrel.

    He said that there was a significant increase in export volume by 0.85 million barrels and an export sales revenue for the federation increased by 41 million dollars.

    “The perennial challenges of shut-ins and shot downs at terminals caused minimal negative impact on crude oil operations during the period.

    “There were significant increases in revenue from companies income and petroleum profit taxes. Also import and excise duties and VAT recorded marginal increases,’’ he said.

  • Buhari orders probe of past JAMB, NIMASA heads over ‘meagre’ revenue remittance

    The Federal Executive Council during its meeting on Wednesday presided over by President Muhammadu Buhari ordered the forensic probe of some government agencies.

    The exercise is to recover unremitted revenues, according to Minister of Finance Mrs Kemi Adeosun, who briefed State House correspondents at the end of the Federal Executive Council (FEC) meeting.

    With Mrs Adeosun were Minister of Water Resources Suleiman Adamu, Minister of Budget and National Planning, Udoma Udo Udoma and Special Adviser to the President on Media and Publicity, Femi Adesina.

    According to her, some of the government agencies suspected to be diverting government revenues will be made to account for the past revenues.

    She said the Joint Admissions and Matriculation Board (JAMB), which had been remitting N3 million annually, remitted N5 billion this year alone and disclosed that it had N3 billion more to remit to the government’s purse this year.

    The minister also listed past management of the Nigerian Maritime Administration and Safety Agency (NIMASA) among the offenders.

    She said: “Secondly, we spoke about revenue generation. The VAIDS Programme is ongoing and we are having quite a positive response in terms of tax compliance.

    “We also reported on the progress made by a number of our agencies some of whom have reported very significant increases in the amount paid into the consolidated revenue fund.

    “Council discussed JAMB, which recorded significant progress and NIMASA as well as others and gave us the charge to really go and look at these agencies, look in some cases the past management of those agencies and see where those agencies were leaking and to encourage agencies that haven’t done so to continue with efficiencies,” she said.

    Asked to disclose the figures expected from the agencies, Mrs Adeosun said: “The highest amount that JAMB has ever remitted to the consolidated revenue fund before this management was N3 million. This year, so far, they have done N5 billion and the Minister of Education reported that they have additional N3 billion that they are ready to remit, which will take this year’s figure alone to N8 billion.

    “Now they have not increased their charges nor their fees. So the question that Council members were asking was that where were all these monies before?

    “So the directive was given that we must call those who were the heads of those agencies and similar ones to account and that is what we intend to do.”

    She added: “It’s a similar story with other agencies and these are the leakages which we are now blocking. These are the monies in the consolidated fund that is now being applied in the projects that really need to get the economy moving. These are the monies that are missing that has led us to the position we are in. It is the grandest looting that this administration action has come in to address.”

    The minister also disclosed that FEC approved for Nigeria to rejoin the African Trade Insurance Agency.

    She said: “This is an agency that is out to provide risk guarantee for private investors coming into Nigeria as well as exporters from Nigeria.

    “It will provide risk guarantees, so instead of projects asking for sovereign guarantees, we will be able to provide that risk mitigation through the African Trade Insurance Agency. Many other countries are already members, so Nigeria will also be joining.

    “This agency has an A rating international and is able to guarantee long term projects. So, what we see as a result of this is that there will be increased level of investments particularly PPP where every often the investors want some guarantee from the government. Instead of the government issuing sovereign guarantee directly, this agency will step in and issue it. It is very similar to MIGA, the Multi-lateral Insurance Guarantee Agency that is owned by the IFC.”

    She went on “My second activity was part of the briefing on the economy and to speak to the fiscal conditions and outlook.

    “As you know, we are on the part way of resetting the economy and adjusting permanently to a sort of lower oil pricing.

    “The recent announcement of the exit from recession we see as statically backed indicator that we are moving in the right direction.

    “We recognised that there is a lot to be done. I briefed the council on various fiscal initiatives that we are pursuing. These include continued fiscal consolidation and cost efficiency, driving cost savings in government; there is still a great need to do so.

    “I have some progress report on the work we have done with payroll where we are still seeing contraction. Every time we put agencies into our automated payroll system we see contraction and we intend to continue with that.

    “So, in summary, the outlook is positive. We did some comparative analysis in June 2014 with oil price of $109, federation allocation was N844 billion and in June 2017 it was down to N318 billion, just to give you an idea of how much income the country has really lost in the last few years.

    “So, we are adjusting very strongly and we believe if we continue with this trajectory not only will we stay permanently out of recession but, more importantly, we will have a positive and growing economy what works for all Nigerians which is our aim.” she said

    Udoma Udo Udoma said his ministry briefed the Council on the recent 2017 Second Quarterly Report of the National Bureau of Statistics (NBS).

    He said: “We were encouraged by the GDP growth rates. The report is very encouraging for the government as it shows that we are on the right direction.”

    The Minister of Water Resources disclosed that he briefed FEC on floods and possible threats of flood.

    He said there was no threat of flood in the country.

    The Ministry has observatory units in Niamey and Lokoja, he said, adding: “If there is any indication of significant rise or threat to lives and properties, we will promptly issue warning alerts.

    “For now, there is no cause for alarm. We cannot stop the flood but we can provide early warnings.”

  • FIRS generates N2.11tr in 7 months

    The Federal Inland Revenue Service (FIRS), through tax collections, generated the sum of N2.11 trillion as revenue from January to July, 2017.

    This is contained in a progress report of the FIRS from Jan. to July, 2017 made available to newsmen on Monday, showing their revenue performance and impact of the new tax regime.

    The aggregate revenue projected in the 2017 budget is N4.94 trillion, out of which oil revenue will contribute N1.98 trillion.

    This is based on an estimated crude oil production of 2.2 mbpd converted at an exchange rate of N305 to a dollar.

    Non-oil revenue for the year is projected at N1.37 trillion, which represents about 28 per cent of the budgeted revenue.

    Independent revenues, various recoveries and mining will account for the balance of about N1.58 trillion.

    A breakdown of the report showed that the FIRS from January to July this year collected N720.28 billion as Petroleum Profit Tax (PPT) while the Value Added Tax (VAT) revenue collected in the same period was N548.22 billion.

    The Federal Government had also collected the sum of N679.9 billion as Company Income Tax (CIT) and N91.4 billion as Education Tax collection.

    The report also showed that consolidated tax revenue for the first seven month of the year was N62.3 billion, which already supersedes the N59.8 billion generated from the area in the entire 2016 financial year.

    Also, the service recorded success in boosting its collection of National Information Technology Development Fund (NITDEF) levy, which went from N6.75 billion in 2016 to N9.87 in the first seven months of 2017.

    A further analysis of the report showed that the service generated more money from taxing the non-oil sector compared to the oil and gas sector.

    The report showed that non-oil tax revenue contribution was at 65.9 per cent while oil and gas contribution to revenue for the year was at 34 per cent so far.

    According to the report, tax improvements recorded so far was due to the latest steps by the service to increase tax collection.

    “FIRS have adopted e-services as a medium to achieve innovation, convenience and transparency of its operations to ensure that every effort is made to improve efficiency in collections and tax administrations.

    “A 45-day window from Oct. 5 to November 2017 was given to tax payers with tax liabilities to come forward and pay 25 per cent of the agreed tax liability, spreading the balance liability while waiving penalty and interest.

    “FIRS in collaboration with Corporate Affairs Commission, Central Bank of Nigeria and Nigeria Customs Service undertook a massive Nationwide registration exercise of new taxpayers in 2016.

    “We are also carrying out a sector-by-sector tax audit, which have increased compliance across all tax types and taxpayers categories. Over N8 billion have been recovered through this.

    “Also, the Voluntary Assets and Income Declaration Scheme (VAIDS) encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities to boost revenue collection.

    “All this will help improve the low tax ratio from 6 per cent to 15 per cent by 2020 and curb the use of tax havens for illicit fund flow and tax avoidance,” it stated.

    According to the report, the service was instrumental in the signing of a Bilateral Taxation Agreement on double taxation on income and capital gains.

    Also, the service had signed the Organisation for Economic Co-operation and Development’s Multilateral Instrument, which aims to tackle issue of base erosion and profit shifting by multinational companies operating in the country.

    The report showed there were currently a number of bills at the National Assembly that when passed would help to improve tax revenue.

    Some of the bills include the Stamp Duties Act Bill, 2017 and the Value Added Tax Bill, 2015.

     

     

    NAN

     

  • N30trn revenue scam: More companies are complying – Senate

    The Senate Committee on Customs, Excise and Tariff and Marine Transport has vowed to continue its ongoing investigation into alleged N30 trillion revenue scam in the import and export chain.

    The Chairman of the committee, Sen. Hope Uzodinma, made this known while briefing newsmen after its investigative meeting with some of the companies on Wednesday in Abuja.

    He said the interest of the Senate in the investigation was to assist the executive in recovering monies trapped in the import and export chain.

    He said “there are allegations that the investigation is borne out of personal interest.

    ”Once a senate committee passes a resolution such as this, it cannot be termed as decision of a single senator.

    “You may not like my face as a person but it is important to look at the credibility of the work we are doing.

    “We need to sanitise the import and export circle to ensure that trade is facilitated and non-oil revenue is recovered and strengthened.

    “In that manner, government will not rely so much on oil.”

    The lawmaker further said that while some had alleged that the investigation was a sham, some of the indicted companies had started refunding monies running into billions of Naira to Federal Government.

    ”As a result of this investigation, banks which are the authorised dealers in the export and import chain have been making effort to remit everything collected by them to the Central Bank.

    ”We are doing this on a friendly note because we do not want to send a wrong signal to the market.

    ”Although more funds other than the N120 billion I announced sometime ago have been recovered, we do not want to send wrong signal.

    “We are limited to speak further on how much has been recovered so far.

    ”However, we will definitely come up with figures recovered at the end of the investigation.”

    Uzodinma explained that the committee was saving the figures till the end of the investigation because some of the companies were quoted on the Capital Market.

    According to him, revealing the figures will send panic to the market.

    He also explained that the committee resorted to interfacing with individual companies rather than meeting with them in group to enable them to open up to the committee.

    Uzodinma said the strategy had yielded positive result, particularly in recovering trapped funds.

    “The companies are now free to admit and some of them have promised to make payments.

    ”Today alone, three companies came with receipts of payment.

    ”If we did not embark on this investigation, we would not make these recoveries.

    ”Through this investigation, we have helped the Federal Government to recover some money and we are sure that government will recover more money because we have detailed information that will aid more recovery.

    ”The companies are no longer contesting most of the documents of infractions we confronted them with.”

    The chairman called for the support of relevant stakeholders including the media in the ongoing investigation.

    He explained that the country would not be able to make the necessary progress if Nigerians were not committed in ensuring that national interest was continually protected.

    He said though Nigeria was populated enough be known as giant of Africa, there was need for commensurate commitment by Nigerians.

     

  • N30 trillion revenue loss: ‘N120 billion already recovered’ – Senate

    The Senate Joint Committee on Customs, Excise and Tariff and Marine Transport has directed Dana Group and 12 other companies, allegedly involved in N30 trillion revenue scam, to appear before it or face the full wrath of the law on Monday.

    The chairman of the committee, Hope Uzodinma, who made this known in a statement on Friday in Abuja, said the committee was giving the companies “the last opportunity to appear before it”.

    The companies are A-kehnal Integrated & Logistics Limited, Don Climax/Skyaim, Gagsel International, Africa Tiles & Ceramics and Network Oil & Gas.

    Others are IBG Investment Limited, BUA International limited, Huawei Technologies, Indorama Petrochemicals, StarComms Plc, African Industries and African Wire and Allied.

    Mr. Uzodinma said the investigative hearing had so far led to the recovery of more than N120 billion from erring companies and vowed to follow up on others.

    He further said the committee had resolved to direct the Nigeria Customs Service (NCS) to start issuing Demand Notice to companies found culpable in the ongoing investigation.

    According to him, the demand notice is to ensure the companies return monies due to the Federal Government.

    He said companies found to have been involved in round tripping and money laundering would be charged to court.

    “The committee has only taken the first batch of the companies invited.

    “Only 61 companies have been interrogated and over 2,000 companies are still expected to appear before us.

    ”During the committee sitting on Friday, 18th August most of the companies’ representatives heaped praises on the committee for what they described as a thorough job,” he said.

     

  • De-categorizing port terminals will cause loss of government revenue – INTELS

    . . . Says NPA’s action violates port concession agreement

    Intels Nigeria Limited has said the decision by the Nigerian Ports Authority (NPA) to de-categorize port terminals in the country will lead to dearth in revenue accruing to the Federal Government from the ports.

    In its Witness Statement on Oath filed at the Federal High Court Abuja in a case instituted by the company against NPA and four others, a Senior Legal Manager of INTELS Nigeria Limited, Mr. Dominic Onwuchekwa, stated that the proposed de-categorisation of the terminals will not only jeopardise the prospect of the Plaintiff recovering its investments under the concession agreement signed with the Federal Government, but that it will also undermine the commitments made to its lenders.

    “In addition, the de-categorization will lead to a situation whereby all terminals will charge the lower fee of $1.2 per ton (even for oil and gas cargoes for which $5.83 per ton should be paid) in order to attract patronage from port users, but on the other hand short-changing the government itself and the people of Nigeria,” Onwuchekwa stated in the Witness Statement on Oath.

    He further averred that in discharging its obligations in accordance with the terms and conditions of the various Lease Agreements (including the Concession) with the Federal Government, INTELS expended huge sums of money in upgrading port facilities and building infrastructures as well as developing specialized oil and gas designated terminals based on the need and requirements of the oil and gas industry world-wide.

    “Conservatively, the Plaintiff has, thus far, expended over USD2 billion out of its own resources without amortization in various projects and has budgeted additional USD5 billion in phased Port Terminals development and infrastructural renewal,” he stated.

    He said the huge investment by INTELS in five concessioned port terminals across the country were made in response to the Federal Government’s quest and demand for investment in port infrastructure development in Nigeria.

    “In addition to the above, the Plaintiff had also expended these huge expenses because it had entered into and executed 5 nos. Lease Agreements on the Concessioned Port Terminals which life span were 25 years with option of renewal for a further term on each terminal,” Onwuchekwa stated.

    He said INTELS’ investment in the concessioned terminals was “based on the assurances and comforts from the 1st – 5th Defendants, especially the 3rd Defendant’s (NPA) categorization of Ports and Terminals, stating that the company “was persuaded into financing huge capital intensive projects for the benefits of the 1st- 5th Defendants and the people of Nigeria”.

    According to him, “this relationship was based on the understanding that the Plaintiff shall re-coup its investments from its agreements with the Defendants entered in respect of contracts at the Oil and Gas Terminal services. The dredging and the reclamation of the 95 hectares swampy area at Federal Lighter Terminal Onne is one example out of several entered into between the 3rd Defendant and Prodeco international Limited which was financed by the Plaintiff.”

    It will be recalled that Justice A.R. Mohammed of the Federal High Court, Abuja last month issued an interim order directing the Nigerian Ports Authority (NPA) and four others to maintain the status quo in a suit filed by INTELS Nigeria Limited on the de-categorization of terminals at the nation’s seaports.

    INTELS, which filed the suit number FHC/ABJ/CS/417/2017 at the Federal High Court Abuja, is, among other reliefs, asking the court to issue an order stopping NPA and other defendants including their representatives, agents or privies from implementing a proposed policy review which purports to cancel the designation of ports and terminals in Nigeria having led it into committing huge human, financial and material resources into developing five port terminals located in Calabar Terminal A, Warri Old Terminal A, Warri New Port Terminal B, Onne Port Federal Ocean Terminal A and Onne Port Federal Lighter Terminal B.

    The defendants in the suit are the Federal Government of Nigeria, Attorney General of the Federation, Nigerian Ports Authority, Bureau of Public Enterprises and the Federal Ministry of Transport.

    INTELS also asked the court to make a declaration that the five Lease Agreements it entered into and executed between the Plaintiff and the 3rd, 4th and 5th Defendants (who executed same for and on behalf of the 1st and 2nd Defendants) in respect of Warri New Terminal, Warri Old Terminal, Federal Lighter Terminal B, Calabar Terminal A and Federal Ocean Terminal A, all dated October 24, 2005 for 25 years renewable leasehold, are still subsisting.

    Other reliefs sought by the company include a declaration that the Defendants are duty-bound to honour, perform and fulfill their contractual obligations as stated in the five Lease Agreements all dated October 24, 2005 between the Plaintiff and the 3rd, 4th and 5th Defendants acting for and on behalf of the 1st and 2nd Defendants; a declaration that the Plaintiff has not in any way whatsoever and howsoever, breached, violated and or failed to perform any of its duties and obligations as stated in the five Lease Agreements entered into and executed between the Plaintiff, and the 3rd, 4th and 5th Defendants acting for and on behalf of the 1st and 2nd Defendants.