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NIPC Screens Firms for $32m W/ Bank SMEs Facility From Cletus Akwaya in Abuja Nigerian Investment Promotion Commission (NIPC) yesterday commenced the appraisal of bids by five companies seeking appointment as Project Management Unit (PMU) for the $32 million World Bank facility for financing of Small and Medium Scale Enterprises (SMEs) in the country. The bid at the office of NIPC in Abuja was chaired by the Director of Finance, Alhaji Lawal Gana Latenwa and witnessed by newsmen, local and foreign consultants hired to assist the Commission as well as representatives of the World Bank. The facility is to be used for funding of SMEs in the three pilot states of Lagos, Abia and Kaduna earlier selected as beneficiaries of the package. To arrive at this stage, NIPC had called for tenders from companies interested in partnering with it to administer the fund. In response to the advertisement, 86 firms both local and international, submitted Expressions Of Interest (EOIs). Latenwa explained that after a thorough screening of the applications, six companies were found to have met the criteria set out for the exercise and were accordingly given the necessary documents to make their bids. However, the Director said one of the companies failed to return its bid papers within stipulated time, a development that led to its disqualification. In the circumstance, he said five companies were for the final round of appraisal from which the successful bidder will emerge. The Director hinted that after one year of operation, the project would be reviewed to ascertain its success level adding, the outcome of the assessment will determine whether it would be extended to other states of the Federation in the coming years. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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