19 March 2019

Nigeria: BPE Confirms Receipt of Bids for Yola DISCO, AFAM

The Bureau of Public Enterprises (BPE), yesterday, confirmed receipt of a total of five bids on Friday, being the deadline for the submission of technical and financial proposals for the acquisition of the Yola Electricity Distribution Company (YEDC) and Afam Electricity Generation Company (Afam Power Plc and Afam three Fast Power Limited) by prospective core-investors.

Two firms - Quest Electricity Nigeria Limited and Sandstream Nigeria - submitted proposals to acquire Yola Disco while DiamondStripes Consortium, Unicorn Power Generation Consortium and Transcorp Power, sought to acquire the Afam Genco.

Sandstream submission was, however, found to be non-responsive as it failed to include a bank guarantee in line with the requirements in the Requests for Proposal (RfPs). Accordingly, the representative of the firm took the bid back.

Speaking at the event, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, assured the bidders that the evaluation of their bids would be subjected to the highest level of integrity culminating into the financial bids opening of the successful bidders.

Okoh said the evaluation committee would meet immediately to discuss and finalise the scoring criteria before commencing the evaluation process between Monday, March 18, 2019 and Thursday, March 21, 2109.

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