Federal Ministry of Industry, Trade & Investment Tafawa Balewa Square Management Board (TBSMB)
Expressions of Interest (EOI) For Transaction Advisory
Services for the Concession of the National Trade and International Business Centre (NTIBC), Lagos
In line with the Infrastructure Concession Regulatory Commission Est. Act. 2005 and the National Policy on Public Private Partnerships.
The Federal Ministry of Industry, Trade and Investment through the Tafawa Balewa Square Management Board (TBSMB), wishes to partner with the private sector to rehabilitate, manage and operate the National Trade and International Business Centre, Lagos (NTIBC) through a concession arrangement.
The NTIBC is a twenty-five (25) storey building situated at Force Road, Central Business District, Lagos Island, Lagos and within the vicinity of Tafawa Balewa Square, Western House and the old NITEL building. The facility, built around 1959, occupies approximately 8.100sq. metres and also with a parking lot of 2,650 sq. metres. The facility was formerly occupied by various Federal Civil Service departments as offices before it was ravaged by fire in 1993.
As part of the PPP procurement process, TBSMB hereby invites experienced and reputable Transaction Advisory (TA) firms/consortia to express interest to provide a broad range of advisory services for the concession of the NTIBC covering PPP project development and procurement activities. PPP project development phase services to be provided by the TA will culminate in the presentation of an Outline Business Case for approval, while the PPP procurement phase services to be provided will culminate in the selection of a preferred concessionaire for the NITBC and a full business case submission for approval. An overview of services to be provided by the TA shall include but not be limited to the following:
PPP Project Development
- PPP Project identification and definition i.e. a clear description of the PPP project concept, including a description of policy context:
- Technical scoping – description of the key technical parameters envisioned for the NTIBC PPP project;
- Needs analysis- high-level review of the project’s commercial rationale, and analysis of the demand for and private sector desirability for the project;
- Options analysis – if the project is found to be suitable for PPP procurement-presentation of the range of technical and financial options for structuring the PPP transaction(s), including:
- PPP framework for the recommended option (for example proposed cost recovery mechanism to reflect recommended risk allocation).
- Cost estimation; preliminary project costing, including expected capital outlays environmental and social safeguards, and ongoing maintenance costs as well as a discussion of non-quantifiable costs;
- Preliminary assessment of the social and environmental impacts of the project;
- Adequacy review of the legal and regulatory framework for a Real Estate & Trade Facilitation PPP including providing an overview of any outstanding legal and regulatory issues that could have an effect on attracting credible concessionaires;
- Development of a likely PPP debt/equity financing structure and detailed financial model to facilitate economic/financial screening to determine suitability for PPP procurement including derivation of evaluation indices FIRR, EIRR, DSCR & LLCR including value for money and public sector comparator justification for preferred PPP procurement model.
- Risk analysis – preparation of risk register identifying all reasonably foreseeable risks and possible mitigation measures, and preparation of a preliminary risk allocation matrix for the public and private sectors;
- Preparation of a detailed PPP Outline Business Case for approval.
PPP Procurement Phase
- Designing and managing the PPP procurement and bid evaluation process post Outline Business Case approval from the EOI stage to procurement of a preferred PPP concessionaire.
- Readiness for market assessment and PPP project marketing i.e. roadshows etc;
- Organization and preparation, where necessary, of supporting documentation to be made available to bidders including bidders data room development and management.
- Preparation of bidding documents, draft concession agreement, etc. and assisting during negotiation with one or more parties prior to PPP contract award; and
- Management of other advisory inputs and overall management of procurement process to ensure a successful transaction.
- Preparation of a PPP Full Business Case.
- Management of post concession agreement interface with concessionaire until financial closure and payment of concession entry fee.
The prospective Transaction Adviser/s may consist of a single firm or a consortium of firms with the requisite financial, legal, technical, PPP, social/environmental and other specialist expertise required to successfully bring the transaction to market and reach financial close. In the case of a consortium, the consortium, members must jointly identify one of the firms comprising the consortium as the Lead Transaction Adviser. The Lead Transaction Adviser will have primary responsibility for liaising with the TBSMR Project Implementation Team and for managing the consortium’s advisory inputs as a whole. Firms comprising the consortium with specialized expertise in finance, legal and technical fields should be identified, respectively, as the Finance Transaction Advisor, Legal Transaction Advisor, respectively.
Requirements
Prospective Transaction Advisers should submit Expressions of Interest detailing the following information as basis for pre-qualification:
Mandatory (without which company will be disqualified)
- Evidence of business registration with CAC (Nigerian companies), Certified True Copy (CTC) of memo & Article of Association,
- Tax Clearance Certificate for 2010, 2011, 2012 (for Nigeria Firms)
- Evidence of payment of Training contributions to ITF (Industrial Training Fund)
- Evidence of registration with FRCN or compliance with the FRCN Act.
- Certificate of Compliance issued by the National Pension Commission as evidence of fulfilling employer’s obligation to employees with respect to pensions Act 2004.
Others
- Verifiable evidence of participation in similar scheme with verifiable reference of related services rendered in the last three (3) years sub-Saharan Africa (attach letters of engagement),
- Verifiable Corporate profile of the firm showing ownership structure and including CV of key personnel supported by Professional licenses, registered address, functional contact e-mail address, GSM phone number(s), facsimile number(s),
- Verifiable Audited accounts in the last three (3) years (2010, 2011 & 2012) duly stamped by licensed Auditors,
- Verifiable references of satisfactory performance on similar projects from at least three (3) previous clients,
- Track record of successful closing of PPP concessions detailing roles played in at least five (5) PPP transactions covering – real estate development, facility management and or trade facilitation closed in emerging markets during the past five (5) years (at least one of which should have been in the past three (3) years),
Upon receipt of Expressions of Interest (EOI) from prospective Transaction Advisors the TBSMB in line with the National Policy on PPP guidelines and BPP guidelines on selection of consultants shall evaluate the submissions and pre-qualify applicants. TA will be competitively selected in accordance with the procedures set out in the BPP Standard Request for Proposals (RFP) for the selection of Consultancy firms (Complex Lump Sum) January 2008.
Payment for Transaction Advisory Services
The Transaction Advisory services being requested here will be procured on a “no cure no pay” output basis. The successful transaction adviser will be paid only when the procured concessionaire reaches financial closure and has paid appropriate entry fee to the grantor of the concession.
Submission
EOI must be submitted in Six (6) copies in a sealed envelope clearly marked “EXPRESSION OF INTEREST FOR TRANSACTION ADVISORY SERVICES FOR THE CONCESSION OF NATIONAL TRADE AND INTERNATIONAL BUSINESS CENTRE, LAGOS” including a soft copy version. The EOIs should be addressed and delivered not later than 12.00 pm on the 10th of September, 2013 at the address listed below:
The Managing Director
Tafawa Balewa Square Management Board,
Tafawa Balewa Square Complex
Race Course, Lagos Island
Lagos.
Interested applicants may obtain further information at the address above from 8.00am – 4.00pm, Monday through Friday (except Public Holidays) from:
- Name: Oluwatoyin Bolaji (Mrs.)
- E-mail: bolajityn@yahoo.com
Opening Date:
All submissions will be opened at 1.00pm on the 10th of September, 2013 in the Tafawa Balewa Square Management Board conference room (TBS Complex, Race course, Lagos Island).
Note:
- EOIs should be submitted in English language and pre-qualified applicants will be contacted. Submission of EOIs through email or fax will be rejected.
- The publication of the EOI does not constitute or form any obligation on the part of the TBSMB.
- Submitted Tax Clearance Cert., CAC Cert., ITF Cert., PENCOM Cert., etc. will be screened through the security Agencies.
- Only shortlisted firms will be contacted.
Signed:
Management
