President Goodluck Jonathan has cancelled the $23.72 million
management contract for the Transmission Company of Nigeria (TCN), a critical
component of the power reform and privatisation programme awarded to Canadian
firm, Manitoba Hydro International, which had been selected by the National
Council on Privatisation (NCP) to run TCN for three years, with the option to
extend for another two years.
Manitoba had signed the $23.7 million management contract
with the Bureau of Public Enterprises (BPE) last July, following a long drawn
out process that lasted more than five years, in which the Canadian firm and
Power Grid of India had their technical and financial proposals evaluated to
determine which of the companies would be selected as management contractor.
Presidency sources said the president based his decision to
cancel the contract on a memo sent by the Bureau of Public Procurement (BPP),
which for several weeks, had been pushing for its cancellation on the premise
that did it not pass through due process as provided under the Public
Procurement Act.
No comments:
Post a Comment