Contractors to Nigerian Agip Oil Company, NAOC, have threatened that they would seize all facilities belonging to the firm in Niger Delta over their failure to clear their (contractors’) unpaid contract debts.

The indigenous contractors also kicked against the ongoing acquisition of Agip by Oando PLC., stating that it would be inhuman and lack of global best practice to allow the deal sail through without settling all debts owed them by the company.

The contractors under the auspices of Coalition of Indigenous Contractors of Agip, CICA, expressed shock that Agip would take on such deal without first discussing the modalities to pay all their outstanding debts.

CICA in a statement signed by its Chairman, Ifeanyichuku Olisa and Secretary, Chief Felix Alumona, in Port Harcourt, decried that Agip owed its members huge amount of money for jobs they did for the company.

The statement called on President Bola Ahmed Tinubu to intervene in the matter and ensure that all outstanding debts owed the contractors are paid before the conclusion of the acquisition.

The contractors pleaded with 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 statement read: “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 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 contactors, 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.” (Sunday Vanguard)

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