Atiku Slams FG Over Hostile Business Climate, Divests Shares In Intels
BY VICTOR BUORO, ABUJA – Nigeria’s Former Vice President Atiku Abubakar has blasted the Federal Government for creating a hostile business environment that is systematically destroying livelihoods in the country.
Atiku, who is the co-founder of Integrated Logistics Services Nigeria Limited (Intels), said it is regrettable that the present administration has been unable to differentiate politics and business in its handling of the nation’s economy
Speaking specifically about his decision to divest shares from Intels, Atiku said in a terse statement signed by his Media Adviser, Paul Ibe, that; “Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics
The statement titled: “Atiku redirects his investment in Intels” said; “Co-founder of Integrated Logistics Services Nigeria Limited (Intels), Atiku Abubakar, has been selling his shares in Intels over the years.
“It assumed greater urgency in the last last five years, because this Government has been preoccupied with destroying a legitimate business that was employing thousands of Nigerians because of politics.
“There should be a marked difference between Politics and Business.”
“Yes, he has sold his shares in Intels and redirected his investment to other sectors of the economy for returns and creation of jobs”, the statement concluded.
Intels Nigeria Limited is Nigeria’s largest logistics company. Founded in 1982 as Nicotes Services Ltd, it is based in Onne, Nigeria and partly owned by former Vice President Atiku.
The company provides integrated logistics services for the Nigerian oil and gas industry. Its services include agency services; cargo services; port management and support services in shore bases.
Also, it “provides equipment, including cranes, forklifts, pipe handlers, generators, trucks, trailers and others specialized services, port facilities, equipment, and personnel services.
“Intels is the concessionaire of the Onne Free Trade Zone in Onne Rivers State Nigeria.”
Credited with the concept of an Oil and Gas Service Centre, Intels is globally recognized as benchmark for oil companies operating in West Africa.
