NAPIMS to Re-award Tilone $260m JV Contract


Enterprise Television-NAPIMS to Re-award Tilone $260m JV Contract

The House of Representatives on Wednesday asked the National Petroleum Investment Management Services (NAPIMS) to re-award Nigerian company, Tilone Subsea Limited its $260m Joint Venture contract.

The House had investigated the controversial contract in 2016, following a dispute involving some bidders and NAPIMS.

The investigation was conducted by the Committee on Petroleum Resources (Upstream) chaired by Mr. Victor Nwokolo.

The House of Respresentatives also endorsed several recommendations of the committee, Urges the Nigerian National Petroleum Corporation (NNPC) and its Joint Venture partners to always obey due process in their transactions to eliminate prolonged disputes that may result to negative impact on investments.

The House resolved to probe the contract after allegations indicated that NAPIMS awarded it (the contract) in breach of due process. The NNPC’s board was also said to have made no input into the contract as required.