By Loveth Azodo
The Federal Government of Nigeria has harvested the sum of N150,547,000.00 from the sale of the five subsidiaries of Nigeria Mining Corporation (NMC) at the end of the financial bids held in Abuja.

The result of the financial bids showed that the Kujama Quarry, Kaduna State​ had Yusuf Mariri Trading Company​​ with price offer N20, 550,000.00 as the preferred bidder while Duwan Mineral Resources Ltd​​ which offered N20, 000,000.00 is the reserve bidder.

The Gano Quarry, Kano State has A.A.Y International Mining Company Ltd​ with offer of N21, 700,000.00 as the preferred bidder while Nigerian Spanish Engineering​ with N11, 000,000.00 is the reserve bidder.

Further, NIMCO Terrazzo, Jos had Alheri (JJ) Nig​ offering N15, 297,000.00 as preferred bidder while Nensat International Ltd​ with offer of N9, 100,000.00, is the reserve bidder.

While the Naraguta Bricks & Clay Company, Jos had University of Jos, Plateau State​ offering N30, 000,000.00 which was below the reserve price, Maiduguri Bricks & Clay Co Ltd had only Gargam Inter Services Ltd which offered N63, 000,000.00 and merged as the preferred bidder.

‭The mode of payment will be made in Naira through the remitta (RRR) in favour of‬ BPE‭; the 10 percent of the purchase consideration within ten (10) working days from‬ the date of official notification;‭ and the remainder 90 percent payment will be paid to BPE within 30 calendar days‬ from the date of official notification.
These results emerged after the second round of the financial bids opening even as the result of the technical consultancy for power sector monitoring is yet to be released pending weighing the technical and financial score of the bidders and the deliberations on the bids exercise by the National Council on Privatisation (NCP)

Earlier, the Director General of BPE, Alex Okoh explained the rationale for the monitoring of the power sector. He said: “The Bureau’s role did not end with midwifing the privatising of the power companies. Our mandate requires us to ensure the success of the privatisation through continuous monitoring of the enterprises for such periods as may be considered necessary and in line with the obligations covenanted in the agreements that the core investors and concessionaires signed with the FGN.”

He recalled that the procurement process for technical consultants to help monitor the privatised power companies started in 2015 but stalled for two years, adding however that the recommencement of the process is a clear demonstration of The government’s resolve to discharge its monitoring responsibility over these enterprises for the benefit of all Nigerians.