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With Over N11 Billion Allocated, 530 Companies Vie for Nigerian Railway Corporation’s 2024 Projects

Published

7 months ago

Apr 30, 2024.

530 Companies Vie for Nigerian Railway Corporation’s 2024 Projects
NRC allocates over N11 billion for various initiatives.
Emphasis on transparency and accountability in procurement process.

EKO HOT BLOG reports that the burgeoning interest in Nigeria’s railway infrastructure development is evident as more than 530 companies have eagerly submitted bids for various projects under the Nigerian Railway Corporation (NRC) for the fiscal year 2024.

With an impressive capital allocation of over N11 billion for the year ahead, the NRC’s projects encompass a broad spectrum of initiatives.

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These include innovative road enhancements, vital locomotive repairs, enhancement of coaches and rolling stocks, as well as the crucial supply of lubricants, fuel, spare parts, track materials, and more.

The bids were opened at the prestigious NRC headquarters in Lagos, where managing director Engr Fidet Okhiria emphasized the significance of the annual event, underscoring the corporation’s commitment to transparency and accountability in the procurement process.

Representing the managing director, Director of Administration and Human Resources, Dr. Monsurat Omotayo, reiterated the purpose of the event, stating, “This is an annual event in line with the Procurement Act and the extant laws.

Railway Corporation’s 2024 Projects

“NRC had advertised a month ago to invite interested organizations capable of bidding for projects and expressing interest in the 2024 projects.”

She further added, “This opening ceremony aims to make the process transparent and fair, with a detailed evaluation process overseen by designated evaluators.”

The meticulous scrutiny of bid submissions by designated officials aims to ensure compliance with rigorous eligibility criteria.

Okhiria emphasized the importance of this initial phase, noting, “We have a lot of projects, maybe over 500 projects. As NRC, we aim to complete over 1,000 projects a year, but everything is dependent on our budget. Thus, we have prioritized our projects accordingly.”

The meticulous scrutiny of bid submissions by designated officials aims to ensure compliance with rigorous eligibility criteria.

Okhiria emphasised the importance of this initial phase, highlighting, “We have a lot of projects, maybe over 500 projects. As NRC, we want to do over 1,000 projects a year, but obviously everything is dependent on our budget. So, we have managed to put our priority projects in this.”