The Nation Newspaper

Tag: tender

  • Tender for NLNG Train 7 out in April

    The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said the Nigeria Liquefied Natural Gas Limited(NLNG) will  issue Invitation to Tender (ITT) for the NLNG Train 7 project in April.

    In an interview, he said: “Efforts of NCDMB in ensuring that other projects come stream are ongoing. Total is also gearing up to take FID on Preowei which is another significant project. Like NLNG Train 7, we are working hand in glove with NLNG to see that the invitation to tender (ITT) is issued within the next two month to the bidders. All these are projects we have lined up and NCDMB is working hard to see that these projects come on stream so that all those fabrication yards and capacity we have developed in-country will be utilised as soon as possible.

    ‘’There is hope and opportunity in the oil and gas industry in Nigeria.”

    He said  stakeholders in the Preowei oil field operated by Total Upstream Nigeria Limited, were concluding discussions on taking the final investment decision (FID) on Preowei project soon. Preowei, located in oil mining lease (OML) 130, is expected to produce about 70,000 barrels of oil per day (bpd) at peak when it comes on stream. The field will be developed as a tie back to the Egina floating production, storage and off loading (FPSO).

    Shareholders in the Ikike oil field project in OML 99 offshore Nigeria are also about concluding talks on taking FID on the project. The Ikike field is projected to produce 60,000 barrels of oil per day when it begins operation.

    Wabote said: “With all the investments that we see in the oil and gas sector starting from the Shell Nigeria Exploration and Production Company (SNEPCo). SNEPCo announced their bidding process for Bonga Southwest/Aparo (BSWA) project in OML 118, and in no distant we will see the project come on stream. The BSWA project, an eight-10 billion dollar project, is huge, especially coming on the back of Ejina project that has just been completed.

    “Other projects including Total’s Preowei project, the ExxonMobil’s Owowo field with estimated oil reserves of between 500 and one billion barrels and other projects lined up now, is a testimony that the offshore activities of the Nigerian oil and gas industry are improving.

    “We just started first oil in January in Total’s Ejina and if we get into another huge project like BSWA, imagine the level of investment and interest that investors have in the country.’’

    OML 130 covers 500 square miles in the Niger Delta and is a deepwater block with water depths ranging from 1,100 to 1,800metres.

    Apart from the Preoweifield discovered in 2005, OML 130 contains the Akpo field, which was discovered in 2000, the Egina and Egina South.

  • GTBank announces final tender results

    GTBank announces final tender results

    Guaranty Trust Bank Plc yesterday announced the expiration and final tender results of the any and all cash tender offer (the “Tender Offer” or “Offer”) with respect to the $500 million  7.50 per cent. Notes due 2016 (the “Securities”), which Securities were issued by its wholly owned subsidiary – GTB Finance B.V. (the “Offeror”) – and unconditionally and irrevocably guaranteed by the Bank.

    As the expiration deadline for the Tender Offer was February 10,  the deadline for tendering the Securities under the Offer has now passed.

    An aggregate principal amount of $126,586,000 of the Securities that were validly tendered on or prior to the Expiration Deadline and not validly withdrawn were accepted. No Securities were tendered through the guaranteed delivery procedures described in the Tender Offer Memorandum dated February 4, 2016 (the “Tender Offer Memorandum”). The Settlement Date for the Tender Offer is February 16, 2016.

    The tender offer is consistent with GTBank’s liability management strategy and reflects the Bank’s ongoing efforts to enhance the efficiency of its funding and capital structure as it seeks to reduce its overall funding costs.

    Subject to applicable law, the Offeror or any of its affiliates may at any time and from time to time following completion of the offer, purchase the remaining outstanding Securities by tender, in the open market, by private agreement or otherwise on such terms and at such prices as the offeror or, if applicable, its affiliates may determine. Such terms, consideration and prices may be more or less favorable than those offered under the tender offer.

    According to the Bank’s CEO – Segun Agbaje, “we are pleased at the outcome of this exercise. The Offer, which is the first of its kind involving a Nigerian corporate in the international financial markets, has enabled us achieve the objective of reducing some of the Bank’s borrowing costs ahead of the maturity of the Eurobond in May of this year.

  • Iorfa to Dolphins: Tender your match tape to LMC

    Iorfa to Dolphins: Tender your match tape to LMC

    Lobi Stars Technical Director, Dominic Iorfa has challenged the League Management Company(LMC) to order Dolphins of Port Harcourt to produce the match tape of their Week 16 NPFL tie decided at the Chief Akume Atongo Stadium, Katsina Ala to verify their alleged claim that they were robbed.

    Iorfa said Dolphins were only crying over spilt milk after their failed attempt to gain a revenge on Lobi at Katsina Ala after they lost twice to the Makurdi based team last season.

    He recommended that appropriate sanctions should be meted out to Dolphins and the head coach Stanley Eguma if culpable for trying to ridicule the effort of the Nigerian referees in the eye of the general public.

    Dolphins’ coach Eguma had in the media alleged that centre referee Aminu Mammga from Zamfara state aided Lobi to victory but Iorfa in an interview with SportingLife admonished Eguma to rest his case and channel his energies at reappraising what led to Dolphins latest setback than to resort to name calling and smearing the image of Lobi after they had lost fair and square last Wednesday.

    Quoting Iorfa:”I read in the newspaper yesterday that Eguma said that he was robbed at Katsina Ala and that he said so may unprintable words about the pitch(at Katsina Ala). I am surprised that a person of Eguma’s calibre could reduce himself so low to start talking like an amateur in a profession he has spent over 10 years.

    “He lost a match and there was no any act of robbery during the match. The two penalties awarded to Lobi were good calls from the referee. The LMC should request for the video tape of the match from Dolphins and try to substantiate the claim made by Dolphins if they were actually robbed. “The LMC should carry out appropriate sanction on him and Dolphins if they have been found to have spread false information to the general public.

    “Eguma is bringing the game into disrepute and should be cautioned from doing so from the game we played against them on Wednesday to stop as deterrent to other ones in the future.

    On the condition of the pitch at the stadium at Katsina Ala:”He said so many things about the nature of the Katsina Ala Stadium but he would be the first person and his club the first club also to complain of bad pitch after the visit of over seven clubs to this same pitch. None of them has said anything bad against the pitch. He is only looking for excuses having stayed here over three days (since Sunday)before the match billed for Wednesday because of their determination to avenge last season’s defeat at all cost.

    “He complained about poor officiating as if it was his first season in the premier league. I have been victim of bad officiating myself but I have never come out to discuss issues about officiating because I believe match officials are humans and have tendency to make mistake once in a while. There was no such bad officiating against Dolphins in the Wednesday’s game. I can still stand by what I said even if a panel is set.

    “I don’t like joining issues with my colleagues in the media but Eguma and Dolphins went too far with their wrong assertions and because they have privilege to the media faster in the South South than we in this part of the country, they use it to their advantage.

    “Gombe United scored a good goal when they visited Port Harcourt to play against Dolphins but despite the fact that it was shown live on television, the goal was disallowed and Dolphins later won through a disputed penalty too. Gombe did not make much noise about it even though we all knew they were robbed. We don’t want anybody to dent our image. I have been with Lobi for over 10 years. It is no joke and I will implore the LMC and other relevant bodies to do a review of the video tape of the game and make their own assessment of what actually transpired.

    “Akwa United, ABS, Sharks, Rangers, Enyimba, Warri Wolves and Kwara United have all come here and none of them complained about the pitch but why Dolphins?

    “We have lost points at home and heaven did not fall. Enyimba came here they held us and Kwara United defeated us at home we didn’t kill them. They should stop Dolphins now before they further dent the image of the Nigerian league.

    “We were in Gombe United where we almost won and at the end of it all our two buses were vandalised among other valuables we lost in the process. I never made exaggerated remarks about it. The referee was even lenient because it took over 10 minutes before Eguma could leave the technical area after he was sent off. They wasted over five minute when the first penalty was issued and they did similar thing when the second was given. It was all these I think the referee considered before adding 7 minutes to the regulation time but they still complained.

    Iorfa nonetheless praised the centre referee for the disputed game Aminu Mammga and other Nigerian referees for their part in upholding the tenets of the profession. His words: “I have good words for referees this season because they have improved better than last season and whoever that thinks otherwise should come out with sufficient proof.”

    SportingLife can report that the disputed game ended 1-0 in favour of Lobi with Terkaa Melai stepping out to net the crucial goal from the spot in the dying minute of the match.

  • Lagos adopts open tender

    THE Lagos State government is adopting an open tendering process in contract procurement and management, the Commissioner of Works and Infrastructure, Dr. Femi Hamzat, has said.

    He spoke on the sideline at the weekend during the ministerial briefing on the activities and achievements of his ministry in the last one year.

    He said the key strategies adopted to achieve open tendering is the direct funding of road rehabilitation and construction, private sector involvement, front loading of projects and a robust monitoring of projects.

    Hamzat said the administration is also mindful of the quality of contractors engaged to handle key infrastructure projects in the state. As a result, the government, he said, sanctioned some contractors for shoddy jobs, removed their names from its list and sacked them from site. He cited the contractor handling Awolowo Road in Ikorodu, saying he was sacked for poor quality construction among others.

    He said the state is determined to promote intermodal transportation system and as such has put in place the critical infrastructure that will enable it to take off.

    He said three prototype jetties were being provided along the East to West axis of the state at Ipakodo, Osborne and Badore.

    He said the government is working on 180 roads and would deliver most of them before the year ended.

    He said the government attaches importance to road construction, adding that it believes that it is one of the first class socio-economic infrastructure with demonstrated impact, such as stimulation of economic activities, which affects Gross Domestic Product (GDP).

    Other positive impact of competitive infrastructure, he argued, is reduction in transaction and trade costs which creates competitiveness.

    On the Lagos/Badagry Expressway, the commissioner said the government would deliver the project on schedule.