Business Journal

Economy

BPE to Privatise 5 Mining Firms at N108.05m

Mr. Alex Okoh Director-General. BPE

The National Council on Privatisation (NCP), at its 4th meeting for 2017, which held on Friday, 15th December 2017, approved the privatisation of the remaining 5 (out of the 23) subsidiaries of the Nigerian Mining Corporation (NMC).

The NCP approved the sale of Naraguta Bricks and Clay Company to University of Jos at the offer price  of N45 million; Maiduguri Bricks and Clay Company to Gargam International Services Limited at the bid price of N63 million;  NIMCO Terrazo Company Limited to Alheri (JJ) Nigeria Limited at the offer price of N15,297,000; Gano Quarry to A.A Y International Mining Company Limited at the bid price of N21,700,000; and Kujama Quarry to Yusuf Mariri Trading Company Limited at the bid offer of N20,550,000.

The Technical Committee of the NCP had opened the financial bids of the pre-qualified prospective core investors for these enterprises at a public ceremony held at the BPE Conference Room on 24th October, 2017.

The NCP, which is chaired by His Excellency, Prof. Yemi Osinbajo, the Vice President of the Federal Republic of Nigeria, noted that the move was vital as the plant and equipment had outlived their economic life and suffered theft and vandalisation over the years.

“The 23 subsidiaries of the NMC had ceased operations since the late 1980s, as a result of which they were closed down and the staff disengaged in 2004 by the Ministry of Mines and Steel Development, but for a few that were retained to provide skeletal services,” it said.

The NCP also approved the pre-qualification of five firms which should be issued Request for Proposals (RFPs) with respect to the engagement of transaction advisers for the partial commercialization of the River Basin Development Authorities (RBDAs). These firms are: Agric-Africa Consultants, Halcrow Infrastructure, CPCS, Thomas Macaulay Capital, and Feedback Infrastructure Services.

Similarly, the NCP approved that RFPs be issued to 3 firms that met the pre-qualifying score following the evaluation of Expressions of Interest for the engagement of transaction advisers for the partial commercialization of the Nigeria National Parks Service and concession of eco-tourism activities in three selected national parks. The firms are: African Wildlife Foundation, IOS Partners/IWorld/Ecoplannet, and CPCS.

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