The Nigerian National Petroleum Corporation (NNPC) said selection of brokers and insurance companies for coverage of its assets and non-assets risks for the 2020/2021 business year will be strictly based on track record and service excellence.
Mele Kyari, group managing director of NNPC made the disclosure during the during a public opening of bids for insurance broker for NNPC Oil/Non-Oli Assets and Liability for the Year 2020/2021.
Kyari said that the evaluation and selection process would be transparent and accountable in keeping with the corporation’s Transparency, Accountability, and Performance Excellence (TAPE) agenda.
He said there would be a level playing field for all the bidders to guarantee the emergence of the best among them based on their respective track record and commitment to excellence.
He stated that NNPC was desirous of engaging reputable and competent professional brokers that could provide unparalleled and exceptional valuation and insurance services to sustain its drive for excellence service delivery.
He also called on insurance brokerage firms that participated in the expression of interest to insure NNPC’s oil and non-oil assets to be wary of anyone who would promise to help them win the bid as the corporation does not operate in such a shady manner.
Ayo Bameke, NNPC group general manager, risk management and insurance, said the bidding is also a requirement of the Bureau of Public Procurement (BPP).“The essence of this public bid opening is to ensure that the Corporation complies strictly with the provisions of the Bureau of Public Procurement Act (BPP),” the statement read.
“All the bids will be opened in the presence of everybody to ensure that all entries are properly captured in line with the transparency principle of the NNPC.”
Shehu Liman, group general manager, supply chain management, said the public opening bids measure is aimed at providing a level playing field for all bidding companies.
“The idea is to select broking and insurance companies that are credible and capable with track records of performance. What this means is that we are going to eliminate all those transactions that are not necessary,” he said.
Mustapha Muhammed, group general manager, Risk Management and Insurance Division, noted that the bid opening was conducted in the full glare of representatives of the bidding companies and other stakeholders to demonstrate NNPC’s commitment to transparency and due process in all its operations.
Some representatives of the bidding firms also expressed their satisfaction with the conduct of the exercise.
A total of 251 firms submitted bids for insurance broker for oil assets while 253 firm’s submitted bids for non-oil assets.
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