Tension As Indigenous Contractors Threaten to Seize All Agip Facilities Over Unpaid Debts
2 min read
by Our CorrespondentThere seems to be palpable tension as indigenous contractors of the Nigerian Agip Oil Company (NAOC) kicked against the ongoing acquisition of the company by Oando Plc.
The contractors, who said it would be inhuman and lack of global best practice to allow the deal to sail through without settling all debts owed them by the company, have threatened to occupy all facilities belonging to Agip in the Niger Delta over arrears of unpaid contract debts.
The contractors under the auspices of Coalition of Indigenous Contractors of Agip (CICA) wondered why Agip would embark on such a deal without first discussing the modalities to pay all their outstanding debts.
CICA in a statement by its Chairman, Ifeanyichuku Olisa and Secretary, Chief Felix Alumona, lamented that Agip owed its members huge amount of money for jobs they did for the company.
They called on President Ahmed Bola Tinubu to wade into the transaction and ensure that all outstanding debts were paid before the conclusion of the acquisition.
The contractors also appealed to security agencies to prevail on Agip and NNPC to settle the outstanding debts to avoid compelling host communities and other affected stakeholders resorting to self-help.
The contractors said: “We recently heard that NAOC has been acquired by Oando and the acquisition process is ongoing.
“Whilst, we hold no objection to the purported acquisition, we are concerned about what happens to the monies NAOC owes all its contractors?
“It also worrisome to hear from NAOC that the other joint venture partners, NNPC and OANDO have not consistently remitted their joint venture contributions, cash calls, which invariably has led to humongous sums of money being owed to local contractors, comprising landlords to NAOC facilities, service contractors and general contractors, who provide services to NAOC”.
The contractors said some of the debts had been owed since 2020 adding that loans were obtained from the banks by contractors to execute the jobs.
CICA said: “What becomes of the monies being owed these contractors, many of who sought bank loans and invoice discount facilities, and now at serious risk of severe financial losses.
“We call on our ever listening President Bola Tinubu to prevail on NNPC and OANDO, to as a matter of save our soul (SOS) intervene and save NAOC contractors from financial losses.
“Government regulatory agencies as well as all security agencies should please
prevail seriously on NNPC/OANDO to please save the contractors from impending calamity and to forestall landlord and host community contractors,from resorting to self-help which will include but not limited to ensuring the stoppage of all NAOC operations in our host communities.”
Although NAOC officials declined comments on the development, a Spokesperson at Eni, the Italian parent company to NAOC pledged to revert with a response but has yet to do so.
