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Nigeria obtains new N155b loans

LogoDaily Independent Online.         * Thursday, July 01, 2004.

NIPC shortlists five firms for N4.3 bn World Bank SMEs project

By Sanya Adejokun

senior correspndent, Abuja

 

The Nigerian Investment Promotion Commission (NIPC) has short-listed five companies for the execution of the$32 million (N4.384 billion) World Bank’s small and medium scale enterprises project in Nigeria.

The companies include PriceWaterhouseCoopers, Emerging Market Economies Limited, International Development Ireland Limited and The Louis Berger Group Incorporation.

NIPC’s Director of Policy Advocacy and Project, Alhaji Lawan Gana Latenwa, told journalists that the pilot project would take off in three states of the federation- Lagos, Abia and Kaduna.

Latenwa said “We have got assurance from the minister of finance that if it conforms with the performance figure it would be extended to other states and more money would also be brought into the project in order to cover other states.”

He added that, “We received 86 expressions of interests from different companies, both nationally and internationally. The commission selected six companies that conform to the eligibility requirement; out of which only five of the selected companies completed and submitted their bid documents. But today we are going to open the bid document of the five companies.”

Already, a five-man evaluation committee, including Executive Director, Bank of Industry, Mr. O. Okonkwo and NIPC procurement consultant, Mr. Femi Oye, have been appointed to conduct due diligence on the documents.

 According to Latenwa, the committee has been given five days to complete its assignment and will submit its recommendation on July 5, as the request for proposal document has been given to each member of the.

 The NIPC director explained that there are four components in the implementation of the World Bank SMEs project, which involves business development services component, investment climate component, and the public-private Sector development partnership component.

Under the business development services component, Latenwa said five industries among which are catfish, rice production and services have been picked for development.

“We are also going to look at the services providers, consultants and other services providers that we would now target and assist in order to see that the entrepreneurs are given the necessary training, expertise and information that they required to do business in Nigeria,” he added.

The NIPC is the project implementation secretariat for the $32 million World Bank’s small and medium scale enterprises project.

 

 

 

 

 
 

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