577 Firms Jostle for NNPC Insurance Renewal Scheme
By Dipo Olowookere
Not less than 577 companies have submitted bids to secure the insurance renewal contract for oil and non-oil assets of the Nigerian National Petroleum Corporation (NNPC).
This information was made known on Tuesday at the public opening bids measure aimed at providing a level playing field for all bidding firms.
The breakdown of bidders shows that 245 brokers tendered for oil assets, 251 brokers tendered for non-oil assets while 37 insurance companies tendered for oil assets and 44 tendered for non-oil assets.
Speaking at the event, NNPC Group General Manager, Risk Management and Insurance, Mr Modupe Bameke, explained that apart from being a requirement of the Bureau of Public Procurement (BPP), the public opening of bids has become part of the corporation’s tradition aimed at promoting transparency.
“The essence of this public bid opening is to ensure that the Corporation complies strictly with the provisions of the Bureau of Public Procurement Act (BPP). All the bids will be opened in the presence of everybody to ensure that all entries are properly captured in line with the transparency principle of the NNPC,” Mr Bameke said.
Also commenting on the development, Group General Manager, Supply Chain Management at NNPC, Mr Shehu Liman, noted that, “The idea is to select broking and insurance companies that are credible and capable with track records of performance. What this means is that we are going to eliminate all those transactions that are not necessary.”
Representatives of the companies which tendered bids for the NNPC Insurance renewal programme in whose presence the bids were opened applauded NNPC for sustaining the culture of transparency and accountability through the exercise.
In attendance were officials of the Bureau of Public Procurement (BPP); Nigerian Extractive Industry Transparency Initiative (NEITI); Nigerian Content Development and Monitoring Board (NCDMB); and National Insurance Commission (NAICOM) as well as members of the civil society who served as independent assessors.