$1 billion injected in defunct national carrier by NATCOM, operations to begin in March

folarin okunola

January 19, 2016 9:52 AM

Mr. Olatunde Ayeni, chairman of NATCOM, speaking to the House of Representatives Joint Committees on Communication and Privatisation, said that the funds and other efforts would see the company employ about 4,000 people by March

NITEL Headquarters, Abuja

According to various media reports, NATCOM Development and Investment Limited, new owners of Nigerian Telecommunication Limited (NITEL) and its sister company, Mobile Telecommunication Limited (Mtel), has spent about $1 billion to revive the defunct national carrier.

Mr. Olatunde Ayeni, chairman of NATCOM, speaking to the House of Representatives Joint Committees on Communication and Privatisation, said that the funds and other efforts would see the company employ about 4,000 people by March, when it hopes to roll out its mobile lines, as well as 4G LTE services for broadband users.

READ: House of Reps to probe sale of national carriers to NATCOM by BPE

According to Nigeria CommunicationsWeek, Ayeni told the house that his company would begin a phased roll out of operations from Abuja, Lagos and Port Harcourt before expanding to the other parts of the country.

NATCOM purchased the defunct national carrier early last year for about $252 million.

folarin okunola