Grapevine

Oil bid round progressing as planned, says NUPRC

Komolafe told The PUNCH that the bid round was progressing in line with the schedule the commission made available.

The commission’s chief executive, who expressed happiness over the bid round, emphasised that it was progressing smoothly.

“My response to that is that the bid round is progressing in line with the schedule that we had made available. So, it’s progressing smoothly. Yes, and we’re happy with that,” Komolafe replied tersely when asked to give updates on the bid round.

The PUNCH reports that data access/data purchase/evaluation/bid preparation and submission for the bid round started on July 8, 2024, and would close on November 29, 2024.

During the pre-bid conference held recently in Lagos, it was announced that President Bola Tinubu had reduced the signature bonus payable by successful bidders from around $200m to $10m.