Thread by @lekanpaul

DG of BPE, Mr. Alex Okoh, in his remarks, said his agency supports the very strategic and laudable #HDMIMilestones and
#VACRFPBidOpening initiative.

Minister of Works and Housing, Mr. Babatunde Fashola, in his remarks, said Nigeria is heading in the right direction as the #HDMIMilestones seeks to unlock capital in excess to possibly a trillion if the initiative succeeds. #VACRFPBidOpening

Fashola added that his Ministry have innovated and initiated tax credit schemes which have brought up conglomerates to contributing to Nigeria’s road infrastructure.
#HDMIMilestones
#VACRFPBidOpening

Also in his speech, he mentioned that President Muhammadu Buhari has recovered some looted funds deposited abroad and are now channeled into the presidential development funds.
#HDMIMilestones
#VACRFPBidOpening

VAC is not a Privatization scheme but a Public Private Partnership initiative that will bring sustainable development and management to Federal Highways and all assets along the Right of Way through private sector investors. #HDMIMilestones
#VACRFPBidOpening

The concessionaires will assume the responsibilities to develop and manage their respective highways for an agreed period of time, including the economic rights over all revenue generating commercial activities from the Highway Economy along the Right of Way. #HDMIMilestones

Recall that HDMI Procurement process started on Monday 29th March, 2021 with the opening of the e-portal: hdmi.worksandhousing.gov.ng and the RFQ advert which lasted for two months and ended at midnight on 31 May’ 2021. #HDMIMilestones
#VACRFPBidOpening

The public Bid-opening ceremony, which held under the leadership of the Permanent Secretary, Ministry of Works and Housing, Mr. Babangida Husseini on June 01, 2021 revealed an impressive show of interest by Nigerian and International firms. #HDMIMilestones
#VACRFPBidOpening

A total of 75 firms completed the RFQ application were for the Value-Added Concession, which applies to the 12 selected federal highways for concession. Following the evaluation process, 18 firms were shortlisted to progress to the next phase of procurement.

The Request for Proposal was advertised and the 18 bidders were required to respond to this request following a period for studies and due diligence on the selected routes of their choice. The deadline for submission was at midnight yesterday, February 22’ 2022. #HDMIMilestones

Some other milestones that have been achieved in the intervening period since the conclusion of the RFQ in June and that of the RFP today include the:

a. The Approval of the National Tolling Policy by FEC in August 2021;
b. And the Environmental Impact Study by the Ministry of Works and Housing

These critical developments, along with sufficient time allowed to the bidders, have combined to enable the shortlisted applicants conduct adequate studies of the selected highways & to consider relevant socioeconomic factors to make informed propositions in their respective bids

This afternoon’s bid-opening ceremony will therefore be the first time of accessing the portal to view the entries by the applicant organizations.

The Federal Ministry of Works and Housing, along with the ICRC and the Bureau of Public Enterprise remain committed to running a robust PPP procurement process that is properly and diligently executed in a transparent manner.

After today, other milestones to look forward to as we move through the remaining stages of a proper PPP Procurement process, include:

i. Selection of Preferred Bidders (and Reserved Bidders);

ii. Negotiation stage;

iii. Submission of Full Business Case;
#HDMIMilestones

iv. FEC Approval;

v. Commercial Close; and…

vi. Financial Close.

#HDMIMilestones
#VACRFPBidOpening

Each of these stages require a period of time to complete before we progress into the Implementation stage.

#HDMIMilestones
#VACRFPBidOpening

The Federal Ministry of Works and Housing, along with the ICRC are resolute to ensuring a robust, diligent, and transparent procurement process in order to secure for Nigeria, the best private sector partners that will deliver for the nation. #HDMIMilestones
#VACRFPBidOpening