FG hands over NITEL carcass to NACTOM
After fourteen years and five failed attempts to sell the Nigerian Telecommunications Limited (NITEL), the Federal Government on Tuesday finally handed over the beleaguered company and its subsidiary, Mtel to a new core investor, NATCOM Consortium.
NATCOM took over after the full payment of $252,521,000 (about N42. 4 b) bid price to acquire the assets and business units of the nation’s premier telecommunications company.
NATCOM Chairman, Dr. Tunde Ayeni, who received the operational licenses of the two companies on behalf of his consortium, said that the team would work towards investing about $ 1 billion, with a view to providing Nigerian subscribers first-class rated services.
His words, “the task ahead is enormous. As you know, what we are taking over is the carcass of what used to be NITEL/MTEL; advancement in technology has made it imperative for us to start from the scratch in rolling out services; and as you aware, over 130 million subscribers are already in the kitty of the existing service providers.
A member of the technical committee of National Council on Privatisation (NCP), Mr. Emmanuel Amadi who represented, Vice President Namadi Sambo at the handing over ceremony, said immense gaps and opportunities still exist in the Nigerian telecommunications market despite the competition in the industry.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
A tale of Kwara public school where pupils learn under the tree without chalkboards
“You cannot make people learn. You can only provide the right conditions for learning to happen.” – Vince Gowmon But...
SPECIAL REPORT: Indiscriminate waste dumps, open defecation pose threat of epidemic in Kwara as govt slow to act
Forty three-year-old Bilikis Abdulrahman covered her pineapple fruit she is selling inside a white bucket container. This, she does to...
SPECIAL REPORT: Women displaced by conflict in North-Central Nigeria become farm helps to survive
Displaced women finding refuge in Abagena camp for Internally Displaced Persons (IDP) camp in Makurdi, Benue State have resorted to...
FEATURE: Kwara residents cry out for help as rainstorm devastates their homes
Phillip Moffitt, an American author, said: “the house is a home when it shelters the body and comforts the soul”,...
SPECIAL REPORT: Small businesses suffer, as govts fail to end sit-at-home in Nigeria’s South-East
It is a Thursday afternoon in December 2022 and the sun is scorching inside the popular Ogbete Market in Enugu...