The Nigerian Ports Authority (NPA) has explained how INTELS Nigeria Limited waived $193 million as part of deliberate and conscious effort to resolve the stalemate on the pilotage contract with the federal government.
The NPA said that the agreement that culminated in the waiver of the $193,317,556 accumulated interest on debt owed, which was reached with INTELS was done in the national interest.
It assured stakeholders and Nigerians that revenue generation would now increase as a result of the effort, even as it praised the Minister of Transportation, Marine and Blue Economy, Adegboyega Oyetola, for working tirelessly to ensure that the crisis was resolved.
The Authority pointed out that the minister was disheartened by the needless loss of revenue as a result of the stalemate on the pilotage contract, adding that the minister’s show of concern underscored his commitment and patriotism towards resolving the protracted dispute.
Significantly, the NPA disclosed…