Brenda Attaga, who is the Technical Adviser to the Minister of State for Petroleum Resources, Timipre Sylva, listed the criteria during a media briefing in Abuja.
According her, the criteria include, technical feasibility, overall business plan an skills and experience output of the business plan as well as the social economic impact of the business plan and what percentage of Internally Generated Revenue it would contribute to the state in which the applicant plans to operate.
Others are the financial feasibility of the plan, economic and finance models of the plan and the environmental feasibility of the plan.
Attaga said twenty seven applications had been received and they have obligor limit of ten billion naira each.
She added that on the SMEs portion, fifty applications had been received noting that SME scheme had a limit of fifty million Naira.
