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TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT

ANNUAL REPORTS AND ACCOUNTS FOR THE PERIOD ENDED 31 ST DECEMBER, 2017.

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... TRANSMISSION COMPANY OF NIGERIA

,,. NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT

-CONTENTS

Page

Content 1

Project Management Team 2

- Report of Auditors 3-4

Statement of Accounting Policies 5

Balance Sheet 6

Receipt and Payment Account 7

-.... Cash flow Statements 8 ....

- Notes to the Financial Statements 9-11 MIii

.... Special Account Reconciliation Statement 12-13

.... W't'1 Fixed Asset Schedule 14-16 '"'

Schedule of IDA Receipts 17-19 ... , "'" Completed Projects 20-22 l:IU'i'

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TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT

PROJECT MANAGEMENT TEAM

ENGR. GWADABE A.A

ENGR. BARAYA MCSHAW

ENGR. ADEBAYO DOKUNMU

ENGR. OLORUNLEKE PETER

ENGR. AKINKUNMI ADEGUWA

MRS. COMFORT SAKO

MR. A. AGACHHI

MR. TOKI ADEBISI

BANKERS

PROJECT AUDITORS

2

Head PMU/General Manager

Coordinator (Transmission)

Coordinator (Distribution)

Procurement Officer (NEGIP)

Coordinator (Civil/WRDSEM)

Coordinator (Environmental & Safety)

Head Human Resources

Project Accountant

Central Bank of Nigeria Standard Chartered Bank

HARUNA YAHAYA & CO. (Chartered Accountants) Ahmadu Bello House, Shiroro Road P.O Box 2994, Minna, Niger State

Tel: 08078490826, 08078490827 e-mail: infohq@harunayahaya.org

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Chartered Accountants & Tax Practitioners www.harunayahaya.org e-mail: infohq@harunayahaya.org

CORPORATE HEAD OFFICE: Ahmadu Bello House, Shiroro Road, P.O. Box 2994, Minna. Tel: 08078490823.

The General Manager,

ABUJA OFFICE: No. 20, Victoria lronsi Crescent, Gwarinpa II Estate, Abuja. Tel: 08078490826.

Project Management Unit, Transmission Company of Nigeria, Nigeria Electricity and Gas Improvement Project, No. 7, Hombori Street, Off Ademola Adetokunbo Crescent, Wuse 2, Abuja.

LAGOS OFFICE: No. l 0, Tafawa Balewa Crescent Off Adediran Ogunsanya Street P. 0. Box 3043. Surulere, Lagos Tel: 08078490824.

KADUNA OFFICE: 4th Floor, Hamza Zayyad House, No. 4, Muhammadu Buhari Way, P. 0. Box 8607, Kaduna. Tel: 08078490825.

June 21, 2018

REPORT OF THE AUDITORS ON THE FINANCIAL STATEMENTS OF THE TRANSMISSION COMPANY OF NIGERIA, (NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT) FOR THE YEAR ENDED 31 ST DECEMBER. 2017 (CREDIT N0.4620-UNI)

Report on the Project Financial Statements We have audited the accompanying project financial statements of the World-Bank Assisted Transmission Compahy of Nigeria (Nigeria Electricity and Gas Improvement Project), as at December 31, 2017 (for the period 1st January 2017 to 31st December, 2017) as set out on pages 6 to 13 and prepared on the basis of the accounting policies on page 5. The project is financed by the IDA, credit number 4620-UNI.

Respective Responsibilities of the Project Management Unit and Auditors: The World-Bank Assisted Transmission Company of Nigeria (Nigeria Electricity and Gas Improvement Project), Project Implementation Unit and Project Management Unit coordinate the activities of the project and are as such responsible for the preparation of the financial statements. It is our responsibility as auditors to express an independent opinion, based on our audit, on the financial statements and to report our opinion to you.

Basis of Opinion We conducted our audit in accordance with the Nigerian and International Standards on Auditing and World Bank guidelines. These standards and World Bank guidelines require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the estimates and judgments made by the project officers in the preparation of the financial statements, and whether the accounting policies are appropriate to the project circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free of material misstatements, whether caused by fraud, other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of the financial statements .

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Opinion

In our opinion, the project financial statements give a true and fair view of the financial position and of the cash flow statements of the World-Bank assisted Transmission Company of Nigeria (Nigeria Electricity and Gas Improvement Project) for the period ended December 31, 2017, in accordance with the provisions of section 4.01 of the Development Credit Agreement (DCA) and the Statements of Accounting Standards issued by the Financial Reporting Council of Nigeria.

The Statement of Expenditure (SOE) are in agreement with the books of accounts, adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditure incurred and which expenditure are eligible for financing under the credit agreement.

The Statement of Special Account: (SA) of the project on page 12 have been prepared on the basis of cash deposits and withdrawals for the purpose of complying with the credit agreement and did show a true and fair view of the beginning and ending balances and the account activity for the period ended 31st December 2017.

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Haruna N. Yahaya, FCA FRC/2013/ICAN/00000002270 For: Haruna Yahaya & Co. Chartered Accountants.

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Abuja, Nigeria June 21, 2018

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... TRANSMISSION COMPANY OF NIGERIA

""' NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT

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STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 ST DECEMBER. 2017

The following are the significant accounting policies adopted by World-Bank assisted Transmission Company of Nigeria (Nigeria Electricity and Gas Improvement Project) in preparing its project's financial statements .

ACCOUNTING CONVENTION The accounts were prepared under the historical cost convention.

BASIS OF ACCOUNTING The cash basis is adopted in the preparation of the project's financial statements . Income and expenditures relating to a specific financial year are taken into account only when the related cash are received or paid for.

PRESENTATION OF THE PROJECT FINANCIAL STATEMENTS ·~· Details of general and specific funds are disclosed by way of notes in the Project Financial

Statements of the Nigeria Electricity and Gas Improvement Project.

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DEPRECIATION No depreciation charge has been brought into the accounts as fixed assets are stated at cost in the Balance Sheet.

INCOME Income from interest on current and fixed/call deposit accounts were recognized when the current account is credited while income from other sources are credited when cash is received.

DEVELOPMENT EXPENDITURE Capital expenses that are directly related to the Project for which the credit was granted were capitalized to form part of development Expenditures through which the main activities of the PMU are reported .

FOREIGN CURRENCIES Transactions in foreign currencies are converted into Naira at the rates of exchange ruling at the date of each transaction. Balance in foreign currencies are translated into Naira at the exchange rates ruling at the balance sheet date and gains or losses arising on translation are credited to or charge to reserve in the period which they arise .

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TRANSMISSION COMPANY OF NIGERIA

NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT

FINANCIAL POSITION AS AT 31 ST DECEMBER, 2017

ASSETS NOTES 2017

N

Bank Balances 1 6,034,650,525

Project Development Expenditure:

Fixed Assets 2 141,140,726

Completed Projects 3 25,375,945,482

Goods and Works In Progress 4 13,741,864,514

Consultancy Services 5 3,590,241,423

Capacity Building and Training 6 1,838,164,301

Operating Cost 7 1,724,349,240

TOTAL ASSETS 52,446,356,212

FINANCED BY:

Exchange Gain Equalization 8 16,720,000

IDA Credit Loan Account 9 52,429,636,212

Other Project's Fund in TCN-NEGIP Pool Account 10 0

TOTAL LIABILITIES 52,446,356,212

6

2016

N

4,633,927,776

136,465,726

16,984,420,500

6,577,657,946

1,515,406,819

1,792,366,208

1,199,918,445

32,840,163,420

137,909,938

32,284,664,746

417,588,736

32,840,163,420

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RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 315T DECEMBER 2017.

RECEIPTS/INCOME Note 2017 2016

N N

IDA Credit Loan Account 20,144,971,466 11,753,088,898

Other Income 7,213,896 4,573,322

Other Project's Fund in TCN-NEGIP Pool Account 0 417,588,736 .... Exchange Equalization 0 137,909,938

TOTAL RECEIPTS 20,152,185,362 12,313,160,894

PAYMENTS

Project Development Expenditure:

Fixed Assets 4,675,000 2,148,000

Completed Projects 8,391,524,982 6,897,030,200

Goods and Works In Progress 7,164,206,568 1,918,352,532

Consultancy Services 2,074,834,604 726,366,401

Capacity Building and Training 45,798,093 163,513,425

""' Operating Cost 524,430,795 354,704,374

... TOTAL PAYMENTS 18,205,470,042 10,062,114,932 - Excess/ (Deficit) of Receipts over Payments 1,946,715,320 2,251,045,962

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TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT CASHFLOW STATEMENT FOR THE YEAR ENDED 315

T DECEMBER 2017.

2017 N

• Operating Activities

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Adjustment for changes in operating Assets

Cashflow from Operating Activities

Investment Activities: Project Development Expenditure:

Fixed Assets Completed Project Goods and Works In Progress Consultancy Services Capacity Building and Training Operating Cost

Cashflow used in Investing activities Financing Activities: IDA Credit Loan Account Other Project's Fund in TCN-NEGIP Pool Account

Exchange Equalization

Cashflow from Financial Activities

Net cash/cash Equivalent Opening cash balance

Refund/ Close out of Other Project Fund Closing cash balances as the end of the year Represented by: TCN-NEGIP TSA Pool Account Standard Chartered Bank Special Account-IDA Treasury Single Account (TSA)-Drawdown Account

TOTAL

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0

0

(4,675,000) (8,391,524,982) (7,164,206,568) (2,074,834,604)

(45,798,093)

(524,430,795)

(18,205,470,043)

20,144,971,466

0 (121,189,938)

20,023,781,528

1,818,311,485 4,633,927,776 (417,588,736)

6,034,650,525

0 5,594,924,965

439,725,560 6,034,650,525

2016 N

0

0

(2,148,000) (6,897,030,200) (1,918,352,532)

(726,366,401)

(163,513,425) (354,704,374)

(10,062,114,932)

11,753,088,898 417,588,736

137,909,938

12,308,587,572

2,246,472,640 2,387,455,136

0 4,633,927,776

1,763,846,720 2,753,387,805

116,693,251 4,633,927,776

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TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 5r DECEMBER 2017.

1 Bank Balances First Bank Pie, Special account- IDA Standard Chartered Bank Special Account-IDA Treasury Single Account (TSA) Total

2 Fixed Assets

Opening balance For the year

Total

Breakdown of Fixed Assets

1/1/2017 Addition Disposal

31/12/2017

3 Completed Projects Opening Balance For the year Total

Motor Vehicles

N 80,582,690

0

80,582,690

4 Goods and Works In Progress Opening Balance for the year Total

Furniture & Fittings

N 22,288,471

0

22,288,471

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2017 N

0 5,594,924,965

439,725,560 6,034,650,525

2017 N

136,465,726 4,675,000

141,140,726

Office Equipments

N 33,594,565

4,675,000

38,269,565

2017 N

16,984,420,500.00 8,391,524,982

25,375,945,482

6,577,657,946 7,164,206,568

13,741,864,514

2016 N

1,763,846,720 2,753,387,805

116,693,251 4,633,927,776

2016 N

134,317,726 2,148,000

136,465,726

Total

N 136,465,726

4,675,000

141,140,726

2016 N

10,087,390,300 6,897,030,200

16,984,420,500

4,659,305,414 1,918,352,532

6,577,657,946

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·-TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 5r DECEMBER 2017.

2017 N

2016 N

.... 5 Consultancy Services Opening Balance 1,515,406,819 789,040,418 for the year 2,074,834,604 726,366,401 Total 3,590l241,423 1,515,406,819

6 Capacity Building and Training Opening Balance 1,792,366,208 1,628,852,783 for the year 45,798,093 163,513,425 Total 1l838l164l301 1l792l366l208 •. 7 Operating Cost Insurance expenses 0 823,167 Advert placements 13,534,624 29,567,027 Postage and Courier 1,906,943 1,678,792 Fueling of official car 4,299,227 7,545,436 Repair and Maintenance 7,510,140 4,269,232 Utilities 2,406,287 2,120,657 ICT Maintenance fee 4,621,232 5,807,023 Solid/liquid waste 467,775 510,300

.... Traveling and tour 89,646,887 57,979,365 Salaries and wages 10,740,000 8,028,710

..... Printing and Stationeries 4,566,520 4,600,850

... Telephone Expenses 901,895 837,799 Duties and others 266,428,877 155,020,180 .... Audit/Professionals fees 2,200,000 2,200,000 Bank charges 3,931,133 585,873 Entertainment 10,457,762 12,111,958 - ICT Subscription 9,085,000 11,668,120

- Traveling for Factory 53,034,209 17,958,059 Repair and Maintenance of Fittings 2,611,900 3,385,640

.... Security Expenses 6,548,850 9,936,062 Fueling of Generators 6,750,000 5,137,920 Office Maintenance 9,357,030 13,545,476 Other Related Service 20,396,400 2,743,550 Motor Vehicle License 242,000 ll216l500 ...

531,644,691 359,277,696 Other Income for the year (Note 10) (7,213,896) (4,573,322) Opening Balance B/F : ll199l918l445 845,214£071 Total 1l 724l349,240 1,199,918,445

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... TRANSMISSION COMPANY OF NIGERIA

'"" NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 5r DECEMBER 2017

2017 2016 ''"' N N

8 Exchange (Gain)/Loss Equalization

Opening Balance 137,909,938

Current Charge (121,189,938) 137,909,938

Total 16,720,000 137,909,938

9 IDA Credit Loan Amount

Opening Balance 32,284,664,746 20,531,575,848

for the year 20,144,971,466 11,753,088,898

Total 52,429,636,212 32,284,664,746

10 Other Fund Liability

Opening Balance 417,588,736 0

Closed out on other Project's Fund in

... TCN-NEGIP Pool Account (417,588,736) 417,588,736

Total 0 417,588,736

11 Other Income

... Interest from Special Account 7,213,896 4,573,322

..... Sales of Tenders 0 0

Total 7,213,896 4,573,322

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TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT STATEMENT OF SPECIAL ACCOUNT-DOLLAR FOR THE PERIOD ENDED 31ST DECEMBER, 2017 IDA CREDIT NO. 4620-UNI. ACCOUNT NO,; 01270197950 BANK: STANDARD CHARTERED BANK PLC

1 Opening Balance

2 Amount advance by IDA In form of replenishment and

direct payments (1/1/2017 to 31/12/17) Appendix 2

3 Interest received on IDA Special Account

4 Present outstanding amount to the Special Account as at 31/12/17

5 Closing Balance as per Bank Statement

6 Add:

Amount of eligible expenditures paid and documented in withdrawal

applications.

Transferred to TSA Account

Bank Charges

Total advance accounted for

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US DOLLAR

9,027,501

65,404,393.18

29,396.80

74,461,290.98

18,313,993.34

46,309,658.25

9,837,176.03

463.36

74,461,290.98

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TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT STATEMENT OF SPECIAL ACCOUNT-DOLLAR FOR THE PERIOD ENDED 31ST DECEMBER, 2017 IDA CREDIT NO. 4620-UNI . ACCOUNT NO.: 0020499261102 BANK: CBN - TSA

1

2

2

Opening Balance

Interest Received

Transfer from IDA to TSA

4 Closing Balance as per Bank Statement

5 Add:

Amount of eligible expenditures paid and documented

Bank Charges

Total advance accounted for

13

NAIRA

116,693,251

0

3,000,000,000

3,116,693,251

439,725,560

2,673,036,558

3,931,133

3,116,693,251

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APPENDIX 1

TRANSMISSION COMPANY OF NIGERIA NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT SCHEDULE OF PROJECT FIXED ASSETS

MOTOR S/NO. DESCRIPTION VEHICLES

N 1 Procurement of office tables and

chairs 2 2 fair light drawer cabinet 3 Laser printer, photocopier, scanner,

steel cabinet with glass doors (2), steel cabinet with steel doors (5)

4 1.5 HP Split Unit (2) 5 1.5 HP Split Unit (2) 6 2HP NCS (second wing) 7 2HP NCS (Accounts office) 8 1.5HP Panasonic Split NC and

Computer system 9 HP Desktop System (14gb,320

hdd,HP '19 flat screen monitor) 10 HP Colour Laser

JetCP6015XH,5200DTN (2).CP3525(2).HP PANASONIC A/C

11 Toyota Land Cruiser Prado and Tovota Hilux (2) 24,638 250

12 12 Office Chairs for PMU Office 13 Toyota Hilux Pick up 5 333 333 14 Toyota Hilux Pick up 5 333 333 15 Toyota Hilux Pick up 5 333,333 16 Toyota Hilux Pick up 5,333,333 17 Toyota Hilux Pick up 5,333,333 18 Toyota Hilux Pick up 5,333,333 19 Toyota Corolla 4,888 888 20 Toyota Corolla 4 888 888 21 Toyota Prado 14 166 666 22 HP LaserJet printer 23 Laotop comouter 24 Proiector 25 LG TV 32 CS410 and LG Bracket 32

Universal 26 Haier Thermocool fridge Model

No:HR135A 27 1. HP Desktop computer, 1. Levono

Think centre edge and 1.1.5KVA UPS mercurv.

28 4No. Desktop computer Levono Think, 1.5KVA UPS, Microsoft office 2010 (10) and (1) Scanner

29 1. Dell Inspiron Laptop, 1. Ms-office 2012

30 Multipurpose Industrial photocopy/printer with full accessories

31 Office filling cabinet

Sub-total 80,582,690

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FURNITURE OFFICE AND FITTINGS EQUIPMENTS TOTAL

N N N 85,000

85 000 100 000 100 000

972,800 972,800

160,400 160,400 138,000 138,000 181,000 181 000 191 000 191.000

175,000 175,000

194 250 194,250

4,229,875 4,229,875

24 638 250 140.800 140.800

5,333,333 5,333,333 5,333,333 5,333,333 5,333,333 5,333,333 4,888 888 4 888 888

14,166 666 41,000 41000

320,800 320,800 70 000 70 000 71,050

71050 53,000 53,000

324,750 324,750

1,311,000 1,311,000

264 500 264,500

6,701,965 6,701,965

45 000 45 000

225 800 15,545,390 96,353,880

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.... Balance b/f 80,582,690 225.800 15.545.390 96,353,880

.... 32 Office Tea Utensils 85 000 85 000 .... 33 El PRl Channel

400 000 400,000 ... 34 1.6m Excutive Chair

•• 660 000 660 000 35 Chairs 22,600

22 600 36 GSM Wireless Desk Phone - 30 000 30 000 37 Office Chairs 380,000

380,000 38 Dining set ..... 280,000 280 000 39 Executive Chairs 750,000 .... 750,000

.... 40 Office Tables 220,000 220 000

.... 41 Television 60.000 60,000

.... 42 lV 60,000 60,000

43 lV Stand 31,000 31.000

44 Waste Basket 171600 171.600 45 lV

120,000 120,000 46 Fabrication and installation of Diesel 170,000

Tank 170,000 47 Office Equipment 29,500

29,500 48 Water Pump

28.400 28.400 .... 49 Fire Fighting Equipment 978.975 978 975

50 lOOKVA Generating Set 7,077,263 7,077,263

""" 51 Office furniture 12,344,300 12 344,300 52 Office furniture 4,023,476

4 023,476 53 Laptop 309,938

309 938 54 Supply of 3no. Industrial Air 641,400 641,400

Condition 55 Installation of Air condition 150 150 150 150

, .... 56 Supply and installation 105 000 105 000 57 Suoolv and installation 344,000 344 000 58 Suoolv & Inst. Air 105 000 105 000 59 Proc. Of Refric:ierator 52 000 52 000 60 Suoolv of Chairs 795,000 795 000 61 Replacement of Faulty lenovo 45,000 45,000 - desktop 62 Reolacement of official Chair 90 000 90 000 63 Projector/ Presentation Remote 33,000 33,000

Control 64 Projector/ Screen & Monitoring 750,000 750,000

Accessories 65 3HP standing A/C 242,000 - 242 000

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.... 66 2 CISCO Layer 3Switches 1,560,000 ... 1,560,000 67 Voice Technology Reviewer 1,541,300 ... 1,541,300 68 Photocopier 520,000

520,000 69 UPS (650) at TSP 860,650 .... 860,650 - 70 60 Nos Chairs 1,111,500

1111.500

- 71 Construction of File Cabinet 785,795 785.795

iM 72 scanner and Adobe Converter 140,000 140,000 .. 73 A3 HP Officejet 95,000 95,000

74 Refrigerator 58,000 58,000 ... ,

75 3 Set Executive Chairs 600,000 600,000

76 Air Conditional 161,000 .... 161,000

77 3 Panasonic 2HP A/C 744,000 744,000 ... 78 1 Window Panasonic 2HP A/C 154,000 154.000

79 1 Panasonic NC 2HP 196,000 196,000

" 80,582,690 22,288,471.10 33,594,565.00 136,465,726 ...

... ADDITION DURING THE YEAR 80 Purchase of 3in1 Officejet 8710 - Printer 130.000 130 000 81 Purchase of Water Dispenser ... 45,000 45,000 82 6.Nos of HP PRO Book 450G Laptop - 4,500 000 4 500 000

- TOTAL 80,582,690 22,288 471 38,269 565 141,140,726

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APPENDIX 2

Loan: IDA 51280 (IDA) Country: Nigeria Project: P106172 - Nigeria Electricity and Gas Improvement Project (NEGIP) Related Loans : IDA 46200

Historical Equiv WB/Trans Paid in Ccy of

Value Date No Aoolication Paid Commitm Borrower Reference Type Ccy

29-Dec-17 0113 AF21-B SC-18 USO 2,008.38 19-Dec-17 0112 AF13 SC-14 USO 38 862.19 8-Dec-17 0111 AF21-B SC-18 USO 32,774.69 8-Dec-17 0110 AF21-B SC-18 USO 90,976.87 8-Dec-17 0109 AF62 Direct Payment USO 27,919.77

28-Nov-17 0106 AF 14 TER SC-17 USO 18,820.12 4-Dec-17 0108 AF61 Direct Payment USO 33,671.87 4-Dec-17 0107 AF60 Direct Payment USO 20,970.87 16-Nov-17 0104 AF13 SC-14 USO 29,611.23 16-Nov-17 0103 AF13 SC-14 USO 82,564.51 16-Nov-17 0102 AF12 SC-15 USO 200,457.78 13-Nov-17 0101 AF13 SC-14 USO 555,325.11 20-Nov-17 0105 AF59 Direct Payment USO 27,910.67 3-Nov-17 0097 AF24A SC-21 USO 115,065.93 6-Nov-17 0098 AF21-B SC-18 USO 15,867.45 3-Nov-17 0096 AF23A SC-19 USO 418,127.02 16-0ct-17 0095 AF13 SC-14 USO 90 403.25 16-0ct-17 0094 AF13 SC-14 USO 111,711.22 13-Nov-17 0100 AF58 Direct Payment USO 36,623.04 11-0ct-17 0091 AF21-B SC-18 USO 21,729.84 11-0ct-17 0093 AF21-B SC-18 USO 477,490.48 30-0ct-17 0092 AF23A SC-19 USO 311,280.41 10-0ct-17 0090 AF12 SC-15 USO 62,395.54 4-0ct-17 0089 AF23A SC-19 USO 366,963.76 8-Nov-17 0099 AF55 Direct Payment USO 27 606.38 26-Sep-17 0088 AF13 SC-14 USO 339,856.00 26-Sep-17 0087 AF13 SC-14 USO 175,709.70 18-0ct-17 0086 AF24A SC-21 USO 559,516.41 26-Sep-17 0085 AF21-B SC-18 USO 54,536.68 26-Sep-17 0084 AF21-B SC-18 USO 44 917.97 26-Sep-17 0083 Af21-B SC-18 USO 30 191.03 26-Seo-17 0082 AF21-B SC-18 USO 136,013.15 21-Auq-17 0079 AF21-B SC-18 USO 48,416.50 1-Seo-17 0081 AF53 Direct Payment USO 28,139.72 1-Seo-17 0080 AF54 Direct Payment USD 24,833.55

14-Auq-17 0077 AF21-B SC-18 USO 102,198.02 14-Aug-17 0078 AF21-B SC-18 USD 212,108.67 27-Jul-17 0074 AF21-B SC-18 USO 180,591.13 24-Jul-17 0071 AF21-B SC-18 USO 3,755 209.90 24-Jul-17 0072 AF 14 TER SC-17 USO 1,888,291.07 19-Jul-17 0069 AF21-B SC-18 USO 140,036.57 31-Jul-17 0075 AF52 Direct Payment USO 31,262.65 21-Jun-17 0068 Ran Refunds USO -7,253.10

17

USD Equivalents

2,860.20 54,948.81 46,227.72

128,320.15 39,380.00 26,676.58 47,687.78 29,700.00 41,729.62

116 354.04 282,495.13 779,437.66

39,380.00 161,477.77 22,232.36

586,778.55 127,863.65 158,001.00 51,403.00 30,716.00

674,951.90 436,888.28

88,110.61 517,829.90

38,700.00 480,539.39 248,444.73 788,548.86

77,112.14 63.511.76 42,688.60

192,315.79 68,241.60 39,884.40 35,198.33

144,175.86 299,232.30 253,918.35

5 269,873.81 2,649,933.28

195,663.30 44,010.00

-10,000.00

....

.... :RN000000308154 Aoolication .... 3-Aug-17 0076 AF49 Direct Payment USD 18,797.52 26,549.99

27-Jul-17 0073 AF51 Direct Payment USD 39,946.23 56,166.00 - 24-Jul-17 0070 AF50 Direct Payment USD 20,360.57 28,573.00 - 17-Jul-17 0067 AF21-B SC-18 USD 210,677.72 293,720.56 17-Jul-17 0066 AF21-B SC-18 USD 112,968.63 157,497.48 - 13-Jul-17 0064 AF21-B SC-18 USD 241,777.21 335,905.92 13-Jul-17 0065 AF13 SC-14 USD 15,071.03 20,938.48 14-Jul-17 0063 AF24A SC-21 USD 1,535,066.91 2 134 464.48

- 23-Jun-17 0062 AF21-B SC-18 USD 50,119.32 69 141.10 23-Jun-17 0061 AF21-B SC-18 USD 400,954.53 553,128.80 - 14-Jul-17 0060 AF23A SC-19 USD 1,153,513.61 1,603,926.07 .. 12-Jul-17 0059 AF23A SC-19 USD 2,372,335.80 3,298,899.00 12-Jul-17 0058 AF24A SC-21 USD 2,485,213.10 3,455,862.78 .. 19-Jun-17 0057 AF21-B SC-18 USD 36,026.59 49,806.40 15-Jun-17 0056 AF47 Direct Payment USD 56,668.54 78,327.25 ... , 12-Jun-17 0054 AF21-B SC-18 USD 367,124.15 507,839.16

.... 13-Jun-17 0055 AF46 DA-A USD 2,177,352.17 3 011,735.30 30-May-17 0052 AF 14 TER SC-17 USD 131 847.43 182,027.25 .... 30-May-17 0051 AF 14 TER SC-17 USD 318 618.93 439,882.11

.... 30-May-17 0050 AF 14 TER SC-17 USD 176,338.47 243 451.13 8-Jun-17 0053 AF25A SC-20 USD 50,823.56 70,458.74

23-May-17 0048 AF45 Direct Payment USD 22,769.99 31,500.00 1-Jun-17 0049 AF25A SC-20 USD 240,064.68 332,436.77

23-May-17 0047 AF44 Direct Payment USD 40,451.06 55,960.00 -- 15-May-17 0046 AF21-B SC-18 USD 516,251.20 707,450.00 15-May-17 0045 AF21-B SC-18 USD 306,411.67 419,894.30 28-Aor-17 0044 AF12 SC-15 USD 83,782.35 114,867.28 28-Aor-17 0043 AF12 SC-15 USD 1,153,508.10 1581482.67 - 28-Aor-17 0042 AF21-B SC-18 USD 175,967.53 241,255.00 28-Aor-17 0041 AF21-B SC-18 USD 307,435.92 421,500.80 26-Aor-17 0040 AF43 Direct Payment USD 25,215.76 34,506.00 - 13-Aor-17 0039 AF13 SC-14 USD 1,231,646.10 1,673,302.07 .. 6-Apr-17 0038 AF42 Direct Payment USD 24,791.07 33,640.00 27-Mar-17 0037 AF13 SC-14 USD 409,227.97 559,455.56 - 23-Mar-17 0036 AF12 SC-15 USD 276 364.81 376,472.44

- 20-Mar-17 0035 AF12 SC-15 USD 241 763.03 328,239.25 17-Mar-17 0034 AF39 Direct Payment USD 28,258.84 38 342.16

.... 17-Mar-17 0033 AF38 Direct Payment USD 20,465.92 27 768.57 15-Mar-17 0032 AF37 DA-A USD 0.00 0.00 3-Mar-17 0031 AF36 Direct Payment USD 34,322.50 46 213.19

..... 3-Mar-17 0030 AF35 Direct Payment USD 18,691.59 25 167.10 7-Feb-17 0029 AF34 Direct Payment USD 64,913.81 88,040.00

..... 30-Jan-17 0028 AF13 SC-14 USD 521,265.38 705,996.62 30-Jan-17 0027 AF25A SC-20 USD 265,553.17 359,662.56 - 19-Jan-17 0026 AF33 DA-A USD 0.00 0.00

·- 18-Jan-17 0025 AF32 Direct Payment USD 36,489.84 49,470.00 17-Jan-17 0024 31 Direct Payment USD 103,115.58 139,900.00 - 10-Jan-17 0023 AF29 Direct Payment USD 50,483.29 67 950.00 10-Jan-17 0022 AF30 Direct Payment USD 64,890.63 87,342.14 9-Jan-17 0021 AF13 SC-14 USD 920,432.94 1,237,052.67 - 3-0ct-17 0320 S3B SC-11 USD 15 044.58 21,200.07 21-Jun-17 0317 109 DA-A USD 12,331,633.44 17,001,869.66 17-May-17 0314 S3B SC-11 USD 16,836.61 23,189.91 -- 9-May-17 0313 so SC-6 USD 52,042.29 71,128.80

- 18

-

24-May-17 0315 108 Direct Payment USD 164,026.48 226 522.21 .... 6-Aor-17 0311 107 Direct Payment USD 59 577.20 80 842.68 3-Aor-17 0310 106 Direct Payment USD 292,298.90 396 591.15 ·- 16-Mar-17 0309 538 SC-11 USD 259,896.05 352 437.23 - 13-Mar-17 0308 538 SC-11 USD 9,629.80 13 014.87

10-Feb-17 0307 103 Direct Payment USD 71,568.09 96 904.63 - 10-Feb-17 0306 104 Direct Payment USD 233,589.28 316,284.56 - 9-Feb-17 0305 105 Direct Payment USD 225,631.24 306,382.40 7-Feb-17 0304 102 Direct Payment USD 99,072.73 134,368.38 - 7-Feb-17 0303 101 Direct Payment USD 229,785.30 311,648.61 23-Jan-17 0301 39 SC-4 USD 218,515.82 296,755.41 23-Jan-17 0302 37 SC-5 USD 163,904.43 222,590.41 .. 17-Jan-17 0297 39 SC-4 USD 236 609.76 321,015.56 17-Jan-17 0298 96-815-2 SC-16 USD 3 604.25 4,890.00 ... 23-Jan-17 0300 38 SC-3 USD 1,015,847.13 1,379,571.20 18-Jan-17 0299 50 SC-6 USD 1,483,030.48 2,010,574.08 ....

65,404,393.18 ....

....

lliih

....

... •••

•••

---.....

.....

.... •••

---- 19

·-

"'~

...

.... APPENDIX 3 ....

.... NIGERIA ELECTRICITY AND GAS IMPROVEMENT PROJECT TRANSMISSION COMP ANY OF NIGERIA PLC (TCN)

t ... Completed project as at 31st December,2017

·- NAME OF SI

CONTRACT DESCRIPTION CONTRA

CONTRACTO COMPLETI CONTRACT SUM

·- N CTNO. ON DATE (US$) R

-•• Beijing Comfort

1 Supply and Installation of MIS for TCN T6 Technology &

03/03/2014 ,. Development 689,910.35

.,, Co. Ltd . Supply of Project vehicle for the supervision

Transvision

-· 2 of Civil Reconstruction and Flood Control of NS-15 Nigeria Limited

30/10/2013 37,805.66

Sinkin 132/33kV Ala bon Substation ... Fedders Lloyds 3 Supply of Mobile Substations Bid No. Tl 1 T 11

Co oration Ltd 26/11/2013

362,327.40 ... Supply of Siemens RTU, SDH Spare parts & 4 NGP-DC2 Siemens AG 30/09/2015

liln Test Eui ment 400,000.00 Puyan Yufeng

.... Purchase of Communications Test Equipments

Electric Power 5 NGP-T7 technology 27/05/2016

a;, forTCN Engineering Co.

436,575.00

Ltd. China - Bussdor& 6

Civil Reconstruction and Flood Control of NGP-Wl Company 31/08/2015 .... Sinking 132/33kV Alagbon Substation 5,473,328.33

Limited ... Sub Total 1 7,399,946.74

tiff

... Rehabilitation of 33KV Switchgear & Cables NGP-D3 - ABB Nigeria 1 - in Eko Distribution Networks Lot-1 Limited 21/03/2013 3,028,837.95 Provision of Back Up Server for Abuja

"" 2 Electricity Distribution Company for Pre Pre Pay Go Pa ment Meters NS-05 Tech. Ltd. 30/04/2013 47,741.72 - Transportation of Distribution Matrials from

.... 3 Central Stores Oshodi to the 11 Electricity Distribution company for Installation under NCB-13 Datol Express

u,.- the new HVDS installation ro·ects. Lot-1 Courier Services 20/01/2013 45,230.03 Transportation of Distribution Matrials from

,t,111 Central Stores Oshodi to the 11 Electricity 4 Distribution company for Installation under NCB-13 Madaola Nigeria

1,t•d the new HVDS installation ro·ects. Lot-2 Limited 20/01/2013 235,465.53

•• Transportation of Distribution Matrials from

5 Central Stores Oshodi to the 11 Electricity - Distribution company for Installation under NCB-13 Zeroth Nigeria the new HVDS installation ro·ects. Lot-3 Limited 20/01/2013 159,809.92 ... Transportation of Distribution Matrials from

lllll 6 Central Stores Oshodi to the 11 Electricity Distribution company for Installation under NCB-13 Madaola Nigeria the new HVDS installation ro·ects. Lot-4 Limited 20/01/2013 78,225.19 - Supply and Installation of200KV A Seacof - 7 Transformer for Power Intervention at Park Engineering Road, Water Board Area, Gwa walada NS-12 Services Ltd 07/05/2013 27,360.09 -- 20

-

....

.... Replacement of200kVA Distribution Topflight ... 8 Transformer at Abacha Estate, Mararaba, Engineering Abuja NS-16 Nigeria Ltd 16/11/2013 55,122.52

9 Repair of Distribution Transformer for Rural Emikon Power Electrification NGP-D2D6 Lot 3A & 3B NS-17 Link Limited 04/12/2013 58,302.51 Crating of Distribution materials for

-••

10 transportation to eleven distribution companies for installation under New HVDS Emlyn Nigeria -Project NS-13 Ltd. 17/07/2013 46,086.96 Installation of 1200 Electricity Meters In - 11 Commercial farms and Three Villages in Renbor Science Kaduna State NS-02 & Technology 11/04/2013 39,350.00 Transportation of Remaining transformers and

- 12 cables for HVDS project in Central Stores to Axonn Link various Distribution Companies. NS-18 Limited 08/02/2014 47,880.15

Nadabo 13 Transportation of 300,000 meters of Cable to International

Kaduna Electricity Distribution Company NS-20 Agency Ltd. 30/06/2014 45,899.63

.... Crown

14 Supply & Installation of300No. l IKV Resources Sectionalizers at Karu, Kubwa, Luth, Ogba, Development .... Agege & Idiaraba Injection Clusters NGP-D2 Nig. Ltd 30/09/2014 837,633.33

15 Rehabilitation of 33KV Switchgear & Cables NGP-D3 - Seacof in Eko Distribution Networks Lot-2 Engineering Ltd 21/03/2013 3,710,996.56

....

..... Crown

16 Resources

Rural Electrification in Cross River State - D2D6 Lot Development •.. D2D6 Lot3A 3A Nig. Ltd 12/12/2014 82,984.68 Crown

17 Resources

Rural Electrification in Cross River State - D2D6 Lot Development D2D6 Lot 3B 3B Nig. Ltd 12/12/2014 140,897.37

..... Coltech 18 Repair and maintenance of 40 distribution Engineering - transformers under HVDS projects NS-21 Services Ltd. 21/09/2014 31,538.39

Installation of 200kV A, 33/0.415kV

19 transformers in Rural Communities in FCT, Coltech Kaduna,Katsina, Anambra,Enugu, Delta, NCB-15 Engineering Kogi, Ogun and Oyo States- NCB-15 Lot 1 Services Ltd. 21/03/2015 284,288.92 Installation of 200kV A, 33/0.4 l 5kV

20 transformers in Rural Communities in FCT, Kaduna,Katsina, Anambra,Enugu, Delta, NCB-15 Omek Concept - Kogi, Ogun and Oyo States- NCB-15 Lot2 Limited. 21/03/2015 158,527.27 Rehabilitation and Reinforcement of Eleven

21 (11) 33/1 lkV Distribution Substations & JV of Associated Downstream HT/LV Distribution NGP-Dl - MBH/Shirdi/Shr

,.,. Facilities Lot-I eem Electrical 30/08/2015 9,156,053.30 Rehabilitation and Reinforcement of Eleven

22 (11) 33/1 lkV Distribution Substations & JV of

30/08/2015 Associated Downstream HT/LV Distribution NGP-Dl - MBH/Shirdi/Shr 9,340,435.67 Facilities Lot-2 eem Electrical Rehabilitation and Reinforcement of Eleven

23 (11) 33/1 lkV Distribution Substations & Skipper Associated Downstream HT/LV Distribution NGP-Dl - Electrical India

-Facilities Lot-4 Limited 31/07/2015 9,120,228.06 - Rehabilitation and Reinforcement of Eleven

24 (11) 33/1 lkV Distribution Substations & Seacof Associated Downstream HT/LV Distribution NGP-Dl - Engineering - Facilities Lot-5 Services 30/07/2015 8,445,650.08 -- 21

-

Rehabilitation and Reinforcement of Eleven

25 (11) 33/1 lkV Distribution Substations & JV of Associated Downstream HT /L V Distribution NGP-Dl - MBH/Shirdi/Shr Facilities Lot-6 eem Electrical 30/08/2015 4,022,557.15

Seacof .... 26 Conversion ofLVDS to HVDS in Five Zones NGP-D4- Engineering

.... -Lot 1 Lot 1 Services Ltd 30/06/2015 1,034,162.75 Seacof

•• 27 Conversion ofLVDS to HVDS in Five Zones NGP-D4 - Engineering - Lot 3 Lot 3 Services Ltd 30/06/2015 1,116,176.07

29 D2D6 Lot East India

Rural Electrification in Enu u - D2D6 Lot 2 2 Udo Limited JV of Shenzien

.. 30/04/2015 293,962.05

30 Acquisition and installation of about 40,000 Inhemeter Co. & pre-paid meters in Kaduna Electricity Dist. Tripplesea .. Com an NGP-D5 Limited 08/11/2015 7,638,936.92

Seacof - 31 Conversion ofLVDS to HVDS Kubwa Engineering Cluster NCB-D-17 Services Ltd. 08/12/2016 1,763,164.45

Conversion ofLVDS to HVDS in Five Zones NGP-D4-News

32 - Lot2 Lot2

Engineering Ni eria Limited - 31/07/2015

1,185,507.09

-... .... ... .... ...

. '

--- 22 --