Federal Ministry of Finance, Headquarters
Ahmadu Bello Way, Central Business Area, Abuja
Invitation for Request for Proposal for the Development of a Macro-Econometric Model for Revenue Forecasting and Training for Staff of the Federal Ministry of Finance, Abuja
The Federal Ministry of Finance is charged with the responsibility of conceptualizing, formulating and implementing an effective and efficient fiscal policy for the Federal Republic of Nigeria. The Nigerian Economy is growing at about 6.6% while the economic base is expanding. The Ministry is supporting direction of growth and taking steps to ensure the emergence of Nigeria as well as transforming the economic base of the nation. This involves, amongst others, a thorough understanding of the revenue and expenditure profiles of the government as well as making future projections on relevant macroeconomic variables.
In view of the foregoing, the Ministry is desirous of developing a macro econometric model that would track revenue forecasting.
Qualified consultants are hereby invited to forward proposals (Technical and Financial) to develop a macro econometric model that would enable the Ministry track developments in the economy, run multiple revenue forecast and simulations, impact of global and regional shocks, finance and trade aggregates amongst others. The model should be suitable for policy and planning.
2. Terms of Reference:
The Terms of Reference include the following:
- To develop a robust macro econometric model for revenue forecasting;
- To carry out simulations and forecasts on economic base and calibrating with data;
- To provide documentation of the models including the operational framework, estimations, simulation results and assumptions made,
- To advice the Ministry on global macro econometric modeling trends;
- To train officers of the Ministry of Finance on the development of the model, analysis of results and simulation, as well as workings of the Nigerian economy and its linkages with the proposed model;
1. A robust macro econometric model for revenue forecasting.
2. Documentation to support macro econometric model developed complete with operational framework/manual, estimations, simulation results and assumptions made.
3. Analysis report of global macro econometric modeling trends.
4. Train 25 number officers of the Ministry on the proposed macro econometric model, its application and workings at a suitable venue conducive for learning, complete with logistics transport and accommodation.
The development of the model and the training should take place in a very conducive environment good for learning with a provision for accommodation, good learning facilities, transportation and provision of logistics for the officers. The model would be domesticated at the headquarters of the Federal Ministry of Finance, Abuja.
It is expected that the model and training will be implemented within a period of 10 weeks; the model will be updated over time (with new data as indicated above)
The Federal Ministry of Finance is seeking for consultants with in-depth knowledge and expertise in the areas of macroeconomic modeling and capacity building. The consultants must provide evidence of resident qualified experts in the areas of macroeconomics, econometrics, public finance and development issues along with verifiable evidence. The consultants must have carried out a similar exercise for public sector agencies in either Nigeria or abroad with proof of not less than 5 years’ experience.
7. Qualification Requirements:
Interested firms are kindly requested to provide the following with their proposals:
(i) Evidence of registration with Corporate Affairs Commission (CAC);
(ii) Evidence of Current Tax Clearance Certificate for the last (3) years ending “current year”
(iii) Evidence of VAT Registration Certificate;
(iv) Evidence of last 3 years Audited accounts;
(v) Evidence of issuance of Compliance Certificate to all Organizations by PENCOM in line with Pension Reform Act 2004 (as amended);
(vi) Evidence of compliance with the amended Industrial Training Fund (ITF) Act, 2011 ;
(vii) Evidence of registration with Financial Reporting Council (FRC) of Nigeria;
(viii) Letter of Reference from Bankers;
(ix) Company profile indicating key officers’ technical ability as well as the technical capability of the company to undertake the inspection; and
(x) Evidence of registration with relevant professional bodies.
8. General Information:
(i) All cost incurred in preparation and submission of Tender documents are to be borne entirely by the applicants;
(ii) The Tender documents should be submitted stating title of project in hard copies (one original and two copies);
(iii) The hard copies (documents) should be correctly addressed and submitted in a sealed envelope clearly marked on the top left hand corner the Title of the project tendered;
(iv) Incomplete or late submission will not be accepted;
(v) The Ministry has the right to verify the authenticity and accuracy of the claims made in the submission;
(vi) The Ministry has the right to accept or reject any application (Tender), if deemed necessary.
9. Submission of Document:
i. The Tenders should be submitted with the evidence of payment of N50.000 (Fifty Thousand Naira Only).
ii. The Tenders should be submitted any time from 9:00am to 4:00pm, Mondays to Friday (Exclusive of Public Holidays) to:
Office of the Deputy Director,
Room 040, Ground Floor,
Phase II, Office Complex,
Federal Ministry of Finance,
iv. Qualified Consultants are kindly requested to submit the proposal (Technical and Financial) to the Office of Deputy Director (Procurement), Room, 040, not later than 12 noon, on Monday 4th November 2013.
v. The submission will close at 12:00 Noon on Monday 4th November 2013.
vi. All Enquiries regarding the submission of Tender should be directed to:
Deputy Director (Procurement),
Federal Ministry of Finance,
Ahmadu Bello Way, Central Business Area,
Federal Ministry of Finance