Niger Delta
Indigenous Contractors Resist NAOC’s Divestment …Threaten To Seize Firm’s Facilities Over Debts
Indigenous contractors to Nigerian Agip Oil Company (NAOC) have kicked against the ongoing acquisition of the company by Oando and threatened to occupy all facilities belonging to Agip in the Niger Delta over contract debts.
The contractors said it would be inhuman and lack of global best practices to allow the deal to sail through without settling all debts owed them by the company.
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 on Sunday 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.
The contractors 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.
They 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 is 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 landlords 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 done so.
Niger Delta
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Niger Delta
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Niger Delta
Monarch Lauds Fubara Over Speedy Execution Of Projects In Rivers
A traditional ruler in Rivers State, His Royal Highness, Epelle D. E. Asukokpong has commended the Rivers State Governor, Sir Siminalayi Fubara, for ensuring speedy execution of ongoing projects across the state.
Asuk-okpong, who is the Paramount Ruler of Egwe-Asukokpong in Asarama District, in Andoni Local Government Area lauded the Governor during his inspection tour with his Cabinet on a section of Andoni road linking Oyorokoto fishing community in the area, yesterday.
The Paramount Ruler who expressed satisfaction with the pace of work on the road, commended the Governor for the seriousness he attached to the project.
According to him, “there is a serious motivation on the part of the company handling project.
“With what am seeing today I can say that the Company has redoubled its effort by 50 percent after the Governor’s inspection of the Road on October 28, 2025.
“I thank God for His intervention in the political impasse that was trying to slow down the pace of development in the State.”
The Traditional Ruler, who doubles as PRO of Asarama Divisional Council of Traditional Rulers and Secretary Asarama Town Council of Traditional Rulers said traditional rulers in his domain would continue to support the efforts of Government at all levels to ensure security and development in the area.
He also appealed to the State Government to intervene in the abandoned Asarama, Engendem, Unyeada Ring Road in the area.
It would be recalled that the Rivers State Governor, Sir Siminalayi Fubara, on October 28, 2025, visited the Andoni Atlantic Ocean shoreline to inspect the 13-kilometre road project currently under construction.
The road, when completed, will provide direct access to the beach and link Oyorokoto — a fishing settlement in — to Ngo, the headquarters of Andoni Local Government Area which has since been linked to mainland Ogoni by the Governor.
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