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REQUEST FOR PROPOSAL THE ENGAGEMENT OF A STRATEGIC PARTNER/CONCESSIONAIRE/OPERATOR JUNE 2020

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In line with the strategic vision of Ekiti State Government (“EKSG”), which includes attracting investments into the State and enhancing job creation, EKSG is currently in the process of strategic optimization of State-owned assets, through Public-Private-Partnership (PPP) initiatives. As part of the above, EKSG seeks to engage interested private sector investors for the concession of two (2) of its newly developed assets: King’s Market and Ekiti Civic Centre.
Under the planned concession arrangement, the identified and qualified Private Sector Partner (“PSP”) / Strategic Partner will be granted concession rights to the assets, under a Manage, Operate and Transfer (“MOT”) model over a 5-year concession period with an option of renewal subject to negotiation.

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REQUEST FOR PROPOSAL THE ENGAGEMENT OF A STRATEGIC PARTNER/CONCESSIONAIRE/OPERATOR JUNE 2020

  1. 1. Background FOR THE MANAGEMENT AND OPERATION OF STATE-OWNED ASSETS OF THE EKITI STATE GOVERNMENT TRANSACTION ADVISER REQUEST FOR PROPOSAL THE ENGAGEMENT OF A STRATEGIC PARTNER/CONCESSIONAIRE/OPERATOR JUNE 2020
  2. 2. EKSG | State-owned Assets Concessionaire Arrangement | Request for Proposal | June 2020 Page 2 In line with the strategic vision of Ekiti State Government (“EKSG”), which includes attracting investments into the State and enhancing job creation, EKSG is currently in the process of strategic optimization of State-owned assets, through Public-Private-Partnership (PPP) initiatives. As part of the above, EKSG seeks to engage interested private sector investors for the concession of two (2) of its newly developed assets: King’s Market and Ekiti Civic Centre. Under the planned concession arrangement, the identified and qualified Private Sector Partner (“PSP”) / Strategic Partner will be granted concession rights to the assets, under a Manage, Operate and Transfer (“MOT”) model over a 5-year concession period with an option of renewal subject to negotiation. Assets Description ➢ LOT1 – King’s Market The King’s Market is a 3-block, 2 storey structure consisting of shops, banking halls, shopping malls, etc. linked together with a walkway and a generous balcony in front of all shops. The market is the largest shopping complex in Ekiti State with a well-equipped hospital in the premises to attend to the health needs of market occupants and visiting customers. The Market is strategically located in the heart of the Ado-Ekiti with consistent power and water supply. The market complex is fenced with two vehicular entrance gates and one-foot gate for emergency exit or servicing purposes. The below table highlights the facilities in the King’s Market. S/No Facilities Quantity 1 Lock-up Shops 748 2 Open Stall for Wet Consumables at the Basement 231 3 Banking Facilities 2 4 Shopping Malls 4 5 Warehouse (60 tons capacity) 2 6 Cold Store (40 tons capacity) 1 7 Police Post (including cells) 1 8 Canteens 2 9 Toilet Facilities 48 10 Incinerator 2 11 Car Park Over 500 cars 12 Generator (350 KVA) 2
  3. 3. EKSG | State-owned Assets Concessionaire Arrangement | Request for Proposal | June 2020 Page 3 ➢ LOT 2 – Ekiti Civic Centre Ekiti Civic Centre located in the heart of Ado-Ekiti is proposed to be a recreational and entertainment hub in the State with an exceptional architecture. The Civic Centre consists of shops, office spaces, meeting halls, museum, cinemas, theatre, restaurant, bar, amongst others. The Civic Centre is expected to be a municipality symbol accommodating diverse socio-cultural, educational, commercial and entertainment activities while generating sustainable revenue to the State. The table below highlights the facilities in the Ekiti Civic Centre. S/No Facilities 1 Facility Manager Offices 2 Utility/Stores 3 Security Posts 4 2 Mini Conference Halls (150 capacity) 5 3 Meeting Halls (75 – 100 capacity) 6 Library 7 Museum & Exhibition 8 Training Hall and Workshops 9 Restaurant and Bar 10 Theatre (1500 Capacity) 11 2 Cinemas (120 Capacity) 12 13 Shops Objectives The objectives of the State in conducting the concession arrangement are as follows:
  4. 4. EKSG | State-owned Assets Concessionaire Arrangement | Request for Proposal | June 2020 Page 4 ▪ Optimization of the State’s Internally Generated Revenue ▪ Creation of jobs for the citizens of Ekiti State ▪ Promote the urbanization of Ekiti State ▪ Effective management of the State-owned assets to optimize value for the State and its citizens Scope of Work The Strategic Partner will be required to manage and operate all the facilities in the State-owned assets for a 5-year period and will be required to carry out the following duties: ▪ Revenue collection from tenants and/or shop/store owners ▪ Effective management of the daily operations of the State-owned assets ▪ Meet up with all legal and regulatory requirements of the assets as at when due ▪ Adequate maintenance of the assets to ensure optimum value creation ▪ Development and implementation of strategies for maximising the value for stakeholders Elements of Proposal Bidder’s proposal should demonstrate the competence of the concessionaire to manage and operate the overall aspect of the assets during the concession period. Pursuant to this, the proposal should cover the following aspects: Technical Requirements Bidders will be required to have project/facility management experience and operational experience in handling projects of similar size and capacity in Nigeria. To demonstrate this, bidders will be required to: Technical Requirement – 80 Marks ▪ Provide details of project management experience including size, nature, location, status of completion, etc. This should include five most relevant experience (documentary evidence of experience captured should also be provided). – 20 marks ▪ Display technical soundness and operational feasibility, compliance with environmental standards and quality of service and measures to ensure sustainability and continuity. – 20 marks ▪ Profile of bidder’s team members and Curriculum vitae of each personnel of the bidding member – 10marks ▪ Details of operating licenses and technical partnerships – 10 marks ▪ Detail management and operational plan of the assets – 20 marks Commercial/Financial Requirement – 20 Marks
  5. 5. EKSG | State-owned Assets Concessionaire Arrangement | Request for Proposal | June 2020 Page 5 The ability and capacity of bidders to finance the management and operational needs of the assets is required. As a result, bidders will be required to provide the following: ▪ Audited Financial Statements in the last three years ▪ Demonstration of financial strength to cover the management and operation of the project during the concession period ▪ Details of project financing plan such as access to bank credit, parent company guarantees. This should be supported by relevant documents ▪ Revenue sharing proposition between the Concessionaire and the Ekiti State Government – 20 Marks Organization/Management Requirements The proposal should: ▪ Provide details of ownership and management structure of the bidding company. This should include the names of individuals, with specific roles to be handled ▪ Organogram of the Concessionaire and staffing strategy Regulatory Requirements Bidders must comply with all local, state and federal laws, rules, regulations, orders, guidelines and/or directions, including, but not limited to tax, National Pension Commission (PENCOM) and guidelines of the sector of operations. Bidders will be required to provide the following: ▪ Tax clearance for the Concessionaire and two of its directors ▪ Evidence of payment with PENCOM ▪ Demonstrate implementation strategy to ensure adherence to regulatory requirements. Timeline High-level Timeline S/No Activity Responsibility Period 1 Submission of Proposals/Bids Potential Strategic Partner 3 weeks
  6. 6. EKSG | State-owned Assets Concessionaire Arrangement | Request for Proposal | June 2020 Page 6 The below table shows a high-level timeline for the Concession Arrangement. Proposal Submission and Contact Interested parties are required to send separate proposals for each asset, clearly marked: ▪ "LOT 1" for the King’s Market ▪ “LOT 2" for the Ekiti Civic Centre Electronic copies of the proposal should be sent to ekdipa@ekitistate.gov.ng on or before 5:00 PM (West African Time), Friday, July 21, 2020 while physical copies should be sent to the address below: Special Adviser/Director General Ekiti State Development Investment Promotion Agency (EKDIPA) Ekiti State Government Governor’s Office Ado-Ekiti Thank you. 2 Evaluation of Proposals/Bids Ekiti State Government / Transaction Advisers 2 weeks 3 Notification of Preferred Bidders Ekiti State Government 1 week 4 Negotiation Meetings Ekiti State Government / Preferred Bidders / Transaction Advisers 2 weeks 5 Draft and Review of Concession Agreements Ekiti State Government / Preferred Bidders / Legal Advisers 2 weeks 6 Execution of Concession Agreements Ekiti State Government / Concessionaire 1 day

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