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NATCOM Now Owns NITEL & M-TEL

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NATCOM is now the new owner of NITEL and its mobile arm M-TEL; NATCOM  had to pay $252.251 million for the two companies which are under Nigeria’s National Council on Privatization (NPC),

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In the beginning NATCOM had offered NPC $221million for the company , an amount Chairman of the NPC Technical Committee, Atedo Peterside, said was unreasonable.

The second bidder, NATTAG Consortium, was disqualified for failure to enclose a $10 million bid bond as clearly stipulated in the Request for Proposals (RoP).

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“I am happy to announce that the bid has met the reserve price. Unfortunately, of the two pre-qualified bidders, NATTAG Consortium, was disqualified for failure to enclose a $10million bid bond as clearly stipulated in the Request for Proposals (RoP),” Atedo, who was represented by his deputy, Alhaji Haruna Sambo, said.

He explained that Section 10.3.1 of the RFP requires that “Each bidder shall furnish, as part of its proposal, a bid bond in the form of a bank guarantee or a letter of credit in the sum of $10 million. The bid bond must be enclosed with the technical proposal.

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“The bank guarantee or letter of credit shall be from a reputable bank acceptable to BPE and the liquidator and be valid for 120 days from the deadline for submission of proposals. Provision must be made for extension of the term of the bid bond if the validity period is extended.”

Atedo said as stipulated in the RFP, 30 percent of the bid price should be paid within 15 days of notification and the balance to be paid within 90 days .

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Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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