Monday, March 1African Business News
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Tag: Ada Oyetunde

96 companies jostle for pipeline, depot rehabilitation jobs

96 companies jostle for pipeline, depot rehabilitation jobs

Business
At least, 96 companies are currently lobbying for contracts to rehabilitate Nigeria’s critical downstream infrastructure, especially pipelines, depots and terminals, the Nigerian National Petroleum Corporation’s (NNPC) said yesterday. The national oil company said the infrastructure would be contracted on a build, operate and transfer (BOT) financing model. With the model, the assets would be operated by the private firms after they are rehabilitated before they are transferred to the government depending on the number of years contained in the contract. According to the Corporation, the public opening of the bids for the contract was in line with the NNPC’s commitment to transparency and accountability. Speaking at the virtual event, Managing Director of the Nigerian Pipeline...