The selection of insurers for the Nigerian National Petroleum Corporation’s (NNPC) assets in the 2020/2021 fiscal year would be transparent, the National Oil Company has said, as it commences the bidding process which saw 42 firms bid for the contract.
The Group Managing Director of NNPC, Mele Kyari, gave the assurance on Tuesday in Abuja, during the public bid opening exercise for companies that participated in the expression of interest as lead insurer for the corporation’s oil assets for 2020/2021.
“I am reassuring this country and the rest of our stakeholders that we are poised to make sure that this company acts and works transparently; we will remain accountable to our stakeholders. As a matter of duty for me and the management team, we will deliver on this,” Kyari stated.
He advised the companies that participated in the bid to accept the results as only the best would emerge winner.
Also speaking at the event, the Chief Financial Officer of the corporation, Umar Ajiya, said a key attribute of an organization like the NNPC was the protection of human assets, adding that the exercise was in pursuance of that objective.
He disclosed that a total of 42 companies submitted bids for the lead insurer contract, adding that each of the bids would be assessed on its own merit.
On hand to witness the bid opening process to ensure conformity with the public procurement law were representatives of the Bureau of Public Procurement (BPP), the Nigeria Extractive Industries Transparency Initiative (NEITI), National Insurance Commission, and civil society organisations.
