Operation of Excess Crude Account at Fiscal Responsibility Commission

Fiscal Responsibility Commission

No. 66, Samuel Ajayi Crowther Street, Asokoro. Abuja

Study of the Management of the Excess Crude Account (ECA)

Request for proposals

The Fiscal Responsibility Commission million as part of its functions set out in Section 35 (1-7) of the FRA 2007 wishes to undertake a study on the operation of the Excess Crude Account. Reputable consultants with in-debth experience in public expenditure management are hereby invited to submit proposals on the study of the operation of the Excess Crude Account from the period 30th July, 2007 to 30th March, 2010.

The Terms of Reference are as follows:

1. Examine procedures adopted for determining the benchmark price of crude oil to ensure that it complies with the extant laws and best practices.
2. Determine the total amount accruable to the Excess Crude Account from the crude oil sales over the period of study i.e. 30th July, 2007 -31st March 2010.
3. Ascertain total monetary inflows into the Excess Crude Account in accordance with the approved benchmark price, (Inflows include earnings from Investments).
4. Examine the attitude of the three tiers of government to the provisions of the   law in respect to Excess Crude Account.
5. Examine whether the intentions for establishing the ECA are being realized.
6. Ascertain existence of clear-cut government policies for the creation and utilization of the savings from Excess Crude Account.
7. Examine any other matter(s) that will be useful for the implementation of the provisions of the law regarding the operation of the ECA.

Make recommendations for the management of the ECA  in accordance with international best practices or recommend alternative mode of managing excess proceeds arising from Section 35 (1).

The consultant(s) should include the following documents SEQUENTIALLY in their technical proposal:

1. Certificate of incorporation/Registration
2. Valid Tax Clearance Certificate (2010) covering the last 3yrs
3. Evidence of VAT Registration AND Remittance
4. Evidence of previous relevant jobs executed
5. Pencom Registration and Remittance if applicable
6. One hard copy each of the technical and financial components of the Proposal (also referred to as technical and financial proposals) as well as 1 Electronic copy in Microsoft Office (saved in CD or flash drive) should be submitted to the:

Secretary, Tenders board,

Fiscal Responsibility Commission,

No 66 Samuel Ajayi Crowder, Asokoro,

The proposals should be submitted with a non-refundable tender fee of N20, 000.00 in bank draft payable to the Commission. The submission should reach us on or before 1,00pm 1st July, 2010 and the bid will be opened by 2.30pm the same day at the Commission’s Conference room.

Note

1. The technical and financial proposal should be submitted simultaneously in separate envelops. Each marked TECHNICAL and FINANCIAL at the Top Right Hand Corner and the two submission be put in one bigger envelop and marked Tender Bid
2. Proposals received after the dead-line for submission shall be rejected.
   1. The Commission reserves the right to reject or accept any bid without incurring any liability and proposals will be considered based on competence and price.

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