Two firms to bid for NITEL-MTEL

By IAfrica
In Nigeria
Aug 4th, 2014
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• Govt transfers 51% shareholding in Stallion Property to NNPC’s Pensions Funds

 

The Federal Government yesterday approved two companies to bid for the acquisition of Nigeria Telecommunication (NITEL)/ Mobile Telecommunication (MTEL) assets.

The Minister of Mines and Steel Development, Mohammed Sada, Minister of Works, Mike Onolememen and Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Dikki, said the two companies were among the 17 shortlisted, which had shown interest in the government’s guided liquidation process.

They spoke to State House correspondents at the end of the National Council on Privatisation (NCP) meeting presided over by Vice President, Namadi Sambo at the State House, Abuja.

Sada said  the two successful companies, according to him, are Natcom Consortium and Lake Chad Consortium, which came tops with 90.7 and 90.2 per cent, respectively.

Dikki said Council has also approved the transfer of government 51 per cent interest in Stallion Development Property Company to the Nigerian National Petroleum Corporation (NNPC) Pensions Fund and considered the report of the visit to Ajaokuta Steel Company of Nigeria (ASCON) based on the allegation of assets stripping that was reported to the Council at its last meeting.

Sada said  the government is taking painstaking efforts in the guided liquidation process to ensure that  NITEL-MTEL are resuscitated.

He said: “Of this evaluation of the 17, two are qualified for request for proposal issuance. And this what the council deliberated today and approved the qualifications of the two companies. The two companies are Natcom consortium and Lake Chad Consortium and they came top with 90.7 and 90.2 percents respectively.

“The target is to make sure that NITEL-MTEL comes back. It is a very robust assets, basically, you can hardly get any of the current ones that has as much assets as it has. And it is a very good thing to the country if we can have these assets.

“Everyone of us  in this country is aware that you can hardly talk of telephone landlines now and these are some of the things you cannot do without, mobile telephones or networks are not substitute.”

As a way forward, he said that a committee has been constituted to be headed by him to come out with strategy to ensure that the entitlements of the workers were addressed, and come out with strategy to ensure that the company came back to provide services to its customers.

Giving highlights of the deliberations and decisions made at the meeting, Dikki said the request for the extension of the concession period by Associated Maritime Services Limited in new warri port was also considered.

In the case of ASCON, he explained that based on allegation that there was assets stripping there, a committee was set up to investigate the matter but regretted that just as the work was on, a media report concluded that there was no assets stripping.

He said: “Meanwhile the committee’s report had not even reached the Chairman of NCP and the NCP is yet to receive the report for consideration. It is the NCP that has the right to say whether there is assets stripping or not be caused the assets was transferred based on certain agreements. And the review of those agreements will informs whether there was assets stripping or not.”


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