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From Uche Usim, Abuja
In response to its invitation, insurance firms are set to bid for the Nigerian National Petroleum Company Limited (NNPC Limited’s) oil and non-oil assets and liabilities insurance programme for the 2024/2025 period.
A statement by the company released on its X handle on Thursday said interested brokers should ensure that all submissions are completed electronically via the NIPEX Tender Portal on or before 12:00 noon on Monday, 13 November 2023.
It noted that comprehensive details, eligibility criteria, and submission guidelines are available on its official website.
“Bidders who have submitted their bids and external observers shall be invited to attend the virtual live-stream bid opening session,” it said.
The company said the contract for the insurance of its oil and non-oil assets and liabilities shall be awarded to the successful bidder(s) for a period of 12 months.
“There shall be a consolidated insurance policy to include insurance of energy assets such as production platforms, oil wells, refineries, depots, pumping stations, jetties, terminals, gas metering stations, vessels, power plants, buildings etc. owned, controlled or operated by NNPC Ltd,” it said.
The national oil company said all interested insurance companies seeking to be considered must satisfy the following eligibility and pre-qualification criteria.
“Be a limited liability company registered with the Corporate Affairs Commission (CAC) in Nigeria and licensed by the National Insurance Commission (NAICOM) to transact general insurance business.”
It added that the companies must have a minimum paid-up capital as approved by NAICOM for the different classes of insurance and must be a good corporate citizen of Nigeria that pays its taxes as at when due.
“It must also fulfill all statutory requirements to operate as an Insurer in the Nigerian oil and gas industry”, the statement added.
