BORNO AND YOBE STATE GOVERNMENT
INVITATION FOR BIDS (IFB)
DISPOSAL OF JOINTLY-OWNED LANDED PROPERTIES OF BORNO AND YOBE STATE GOVERNMENTS
DATE OF BID ISSUANCE (MONDAY), 17TH AUGUST, 2026

1. Borno Investment Company Ltd and Yobe Investment Company Ltd has secured necessary approvals to dispose Jointly-owned Landed Properties of Borno and Yobe State Governments in Lagos State, to the general public. Disposal will be conducted through transparent and Open Competitive Bidding processes, Sales by Sealed bid as specified in the Borno and Yobe State Bureau on Public Procurement Guidelines for Disposal of Public Asset and is open to all interested bidders. Please find the detail of the assets in the table below.

S/NO	DESCRIPTION	ADDRESS	LOCATION
1	Two Storey Building on 288m2 Plot	Plot 1225, Ahmadu Bello Way	Victoria Island, Lagos
2	Three Storey Building on 1,800m2 Plot	Plot 1227, Bishop Oluwale St.	Victoria Island, Lagos

Borno Investment Company Ltd and Yobe Investment Company Ltd now invite sealed bids from interested bidders for the above Assets.
2. The process is open to all reputable individuals and corporate entities with proven financial capacity.
3. The landed properties shall be disposed on an “as-is” basis and net all taxes and charges.
4. Each bid must be sealed and accompanied by the following:
i) 10% of the bid value in bank draft drawn in favour of Yobe Investment Company Ltd.
ii) A letter of introduction from a licensed commercial/merchant or specialized bank, confirming the financial capacity of the bidder or other proof of funds.
iii) For corporate bidders; a profile of the company that includes but not limited to Corporate Affairs Commission registration, tax clearances, Audited Financial Statement and SOCUMB registration.
iv) For private individual bidder; requirement in (i) and (ii) above suffice.
5. In the event of a tie, Preference will be given to bidders of Borno or Yobe States Origin.
6. Bids should be submitted with corporate/individual name indicated at the back of the envelop and addressed to: The Managing Director, Borno Investment Company Ltd, 7A Jos Road, Opposite Borno State Civil Service Commission, Post Office Area, Maiduguri on or before 6th September, 2026.
7. Successful bidders who fail to make the final payment within the stipulated time frame shall have their bids invalidated and forfeit their 10% bid-security deposit.
8. NOTE interested bidders are allowed to inspect the aforementioned asset at the above mentioned location from 17th August, 2026 to 4th September, 2026, between 10.00 am to 3.30pm
9. Bids submitted after dateline of submission will be rejected
10. Borno Investment Company Ltd and Yobe Investment Company Ltd are not bound to select any bidder and reserves the right to annul the disposal process at any time without incurring any liabilities in accordance with section 30 of the Borno State Public Procurement Law, 2019 and Section 56 of Yobe State Bureau of Public Procurement

11. BID OPENING:
Date: (Monday) 6th September, 2026
Time: 12.00 noon
Venue: Conference Room of Borno Investment Company Ltd, 7A Jos Road, Opposite Borno State Civil Service Commission, Post Office Area, Maiduguri, Borno State.

12. For further inquiries, please contact;
i) General Manager Investments, Borno Investment Company Ltd, No. 7A Jos Road, Opposite Borno State Civil Service Commission, Post Office Area, Maiduguri,

OR

ii) HOD, Investment promotion and supervision, Yobe Investment Company Ltd., No. 3, Amusement Park Street, Games Village, Off Maiduguri Road, Damaturu, Yobe State.

Signed
The Managing Directors
Borno Investment Company Ltd/Yobe Investment Company Ltd