ICRC COMMENDS AND PLEDGES CONTINUED SUPPORT TO NNPC’s FLAGSHIP BOT PPP PROJECT FOR HER PIPELINE & DEPOT DOWNSTREAM OPERATIONS TOWARDS IMPROVING EFFICIENCY IN NIGERIA’S OIL AND GAS SECTOR
The Infrastructure Concession Regulatory Commission (ICRC) has commended the Nigerian National Petroleum Corporation (NNPC) for its dedicated focus in improving efficiency in the country’s oil and gas sector via private sector participation to optimize the operations of her Downstream Critical Pipelines and Associated Depots/Terminal Infrastructure through a Finance, Build, Operate and Transfer (FBOT) PPP model.
Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Engr. Chidi Izuwah, made the commendation during the virtual public Request For Qualification (RFQ) opening ceremony for the said Infrastructure PPP procurement exercise by the Nigerian National Petroleum Corporation (NNPC), on Friday, in Abuja.
Seventy-eight (78) companies submitted electronic RFQs for the four (4) lots advertised by the NNPC on 7th August 2020 in some national dailies in line with ICRC guidelines via the NIPEX Platform. The massive response from across the world is a full endorsement of President Muhammadu Buhari’s next level agenda predicated on effective and efficient public-private partnerships.
The ICRC has and will continue to provide the NNPC regulatory guidance and support towards upscaling its downstream assets and operations under the proposed Public-Private Partnership (PPP) arrangement as governed by the ICRC Establishment Act 2005 and National Policy on Public-Private Partnership (N4P).
Speaking virtually during the event, Engr. Izuwah said to the NNPC, “You have shown the world that you are driving a totally transparent PPP process in line with the Infrastructure revolution of President Muhammadu Buhari”.
“I commend the GMD of NNPC, Mr. Mele Kyari and his team for showing the world that things can be done properly and in the best interest of Stakeholders”.
Also speaking at the event, Mr. Kyari noted that the aim of the NNPC was to “ensure that the best technology is put in place for the operation of the pipelines… This requires huge capital investments that we cannot handle at the moment, we, therefore, believe getting the private sector involved is the best way out”.
“Today, we are beginning the process of selecting partners in the most transparent and open manner so we can put up a FBOT process where partners would bring in their money and expertise and invest in these projects.”
All pre-qualification documents were submitted online and opened virtually and visibly to all parties involved.
Congratulations again NNPC GMD, COOs, and all @ NNPC as you continue blazing the Oil and Gas PPP trail in an impressive world-class manner.
Acting Head, Media & Publicity