The Nigerian National Petroleum Corporation (NNPC), said it has received over 600 bids submitted by firms seeking to secure contract to insure the corporation’s oil and non-oil assets.

Speaking at the opening of bids for Insurers and Brokers for NNPC Oil and Non-Oil Assets and Liabilities for the year 2018/2019 in Abuja, the Group Managing Director of NNPC, Dr. Maikanti Baru, said the value of the oil assets to be insured runs into billions of dollars while the non-oil assets are almost about a trillion naira.

Baru said the public opening of bids has become part of the corporation’s tradition aimed at promoting transparency, and in line with President Muhammadu Buhari’s mandate for transparency and accountability in the conduct of government business.

“Last year we had over 500 and this year we have received over 600 bids. This multiplicity of bidders has helped us year-in-year-out over the past three years to save premiums of over $30m to the corporation,” the GMD said.

“When this administration came on board, the premiums being charged were over $60 million but we have succeeded in bringing it down to a little over $40 million,” Baru added.

When asked why NNPC was accused of being too opaque despite its efforts to open up its activities, Baru said as chief executive of the corporation, he had learned that a lot of people do not know what NNPC is all about.

“In terms of transparency and accountability, I can guarantee you that there is no other government agency that is more open than us. We are the first government agency, maybe the only one that is still publishing its account on monthly basis and unfailingly. That is the uppermost point of transparency,” Baru said.

http://mcebiscoo.com/2018/11/30/nnpc-over-600-firms-jostle-for-assets-insurance-contract/

Insane Country

Funny thing is that all companies are owned by politicians and their associates as well as their sponsors. Unfortunately, their gullible followers won't know about this but are ready to kill for them.

...Abeg Atiku come sale dis NNpeeeeeCy

They would award some to themselves.

lot of gandollar shlt about to happen

Criminal government organization that knows nothing but corrupt practices! Refused to refund billions of usd to the CBN..

The most corrupt and undemocratic governmen org!! Outdated, myopic and a throw back to the 17th century of management!!

The contracts will be awarded to their friends and cronies!!

I thought FG suspended the licencing till next year and also promised to give most of the licences to states...

So there are over 600 companies that can buy NNPC in this country and we still have this huge rate of unemployment??
We’re doomed in this country!

BUHARI must Go

Dis one na formality na... They have already awarded d contract to demselves and have been doing same thru their proxy companies and paddy paddy companies since time immemorial

lovelove2323:
Insane Country

You tired.

Jothamthompson:
BUHARI must Go

You are hungry.

D

Abaasit4real:
So there are over 600 companies that can buy NNPC in this country and we still have this huge rate of unemployment??
We’re doomed in this country!

Did you read the article at all ? No where in the article is saying anything about buying anything .. The article is about bids for brokers who will insure the assets of the NNPC

Abaasit4real:
So there are over 600 companies that can buy NNPC in this country and we still have this huge rate of unemployment??
We’re doomed in this country!

Is that what you understood from the article ?

Is so unfortunate that federal government are getting it wrong in some aspect of issuing contract to some contractor that doesn't have money to pay their staffs working under fed govt sector such as NNPC and many more, the case study of NNPC Security and the Gardner that have not been paid for the past 6 months now, and this people's have their own family to cater for.

In the first instance, federal government suppose to be paying each Depot security men and the Gardner as at when due as they pay the so called staff on before 25th of every month

The people's that are doing the real job are not regularly paid but always pay those that come to work anytime they like, parade their cars and leave at their own weel


Federal government should think about this very well, the Security and Gardner working under NNPC shouldn't be given to contractor but should employ by FG and pay directly by FG as at the end of every month because of the danger attracted to their job.

Guarding Fuel Tank day and night, chasing thief away, no public holiday for them but reward their so called staff when they are on duty at any public holiday declare by govt.

The bottom line is that, it shouldn't be given out to contractor

Thanks.

Making money is serious business