N1trillion to fund the construction of 1,963km of roads across Nigeria

N1trillion to fund the construction of 1,963km of roads across the Nigeria

Nigerian govt will be constructing 1,963km of roads across the country with estimated N1trillion funding, coming from the private sector in a PPP. Out of the 75 firms that indicated interest,18 were shortlisted to respond to the Request for Proposal which leads to today’s bid opening.

The bid opening ceremony done this afternoon in Abuja will be the first time of accessing the portal , to access the entries of the 18 applicant firms . Nigeria has over 35,000km Federal Roads with this HDMI scheme constructing 5.6% of them, while 50,000 workers will be employed.

After this VACRFP Bid Opening HDMIRFP Bid Opening, Phase today, the Selection of Preferred Bidders , Negotiation Phase, Submission of Full Business Case, FEC Approval, Commercial and Financial Close Stages will follow before Implementation.

Of the 18 firms that participated in the Request for Proposal that expired 12PM Tuesday, 11 companies were found to have completed bids which moves them to the next stage; of Evaluation in Contention for Consideration as Reserved and Preferred bidders. From 1000 firms to 11 now.

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