From Uche Usim, Abuja
The National Council on Privatisation (NCP) has approved the privatisation of the remaining five (out of the 23) subsidiaries of the Nigerian Mining Corporation (NMC).
The entities approved for sale include Naraguta Bricks and Clay Company to be sold to the University of Jos at the offer price of N45 million; Maiduguri Bricks and Clay Company to Gargam International Services Ltd at the bid price of N63 million; NIMCO Terrazo Company Ltd to Alheri (JJ) Nigeria Ltd at the offer price of N15,297,000; Gano Quarry to AA Y International Mining Company Ltd at the bid price of N21,700,000; and Kujama Quarry to Yusuf Mariri Trading Company Ltd at the bid offer of N20,550,000.
A statement from the Bureau of Public Enterprises (BPE) said the Technical Committee of the NCP had since opened the financial bids for the pre-qualified prospective core investors for these enterprises at a public ceremony held at the BPE Conference Room on October 24, 2017.
The NCP, which is chaired by the Vice President, Prof. Yemi Osinbajo, noted that the move was vital as the plant and equipment have outlived their economic life and suffered theft and vandalism over the years.
“The 23 subsidiaries of NMC had ceased operations since the late 1980s, as a result of which they were closed down and the staff disengaged in 2004 by the Ministry of Mines and Steel Development, except for a few that were retained to provide skeletal services,” it said.
The NCP also approved the pre-qualification of five firms, which should be issued Request for Proposals (RFPs) with respect to the engagement of transaction advisers for the partial commercialisation of the River Basin Development Authorities (RBDAs).