No fewer than Ninety -six companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from critical pipelines to depots and terminals through the Build, Operate, and Transfer (BOT) financing model.
This was disclosed at a virtual public bid opening exercise which held at the NNPC Towers, Abuja for the pre-qualification of companies for the contract.
A press release by the Group General Manager, Group Public Affairs Division of the NNPC, Kennie Obateru, stated that the public opening of the bids for the contract was in keeping with the NNPC Management’s commitment to transparency and accountability in all its processes and transactions.
The NPSC boss said that the BOT arrangement would provide a reliable pipeline network and automated storage facilities for effective crude feed, product storage and evacuation from the nation’s refineries post-revamp through an open access model and charge market reflective prices and tariffs to recover the investment.
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According to the NNPC representatives of the ICRC, BPP, the Nigeria Extractive Industries Transparency Initiative (NEITI), and Civil Liberties Organisations (CLOs) were On hand to observe proceedings at the public bid opening exercise
Editor Paul Akhagbemhe
