Nigeria concerned as Nitel debt soars

GOVERNMENT

|
Image: By BiztechAfrica
Nigeria concerned as Nitel debt soars

Nigeria is revisiting the issue of privatizing Nitel with new urgency as the national carrier’s debt soars to N250 billion.

The Nigerian government has long sought a buyer for Nitel, with several offers having been put on the table in the past year, but prospective buyers failing to come up with the large deposits required.

Faced with the option of liquidating the company, Nigerian President Goodluck Jonathan last year adopted a “willing buyer, willing seller” approach to Nitel, Nigeria’s ailing state-owned telco.

However, concerns are being raised about the telco’s rising indebtedness and the willingness of any investor to tackle this debt.

This week, Vice President Namadi Sambo said the National Council on Privatisation (NCP) was willing to partner with the National Assembly to expedite the privatisation of the carrier.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE GOVERNMENT NEWS

Uganda installs floods surveillance system in Mt. Elgon

Uganda has installed a Floods Early Warning System to mitigate the floods and landslides which have claimed scores of lives in the Eastern region, particularly in areas bordering Mount Elgon.  Read More

SAP innovation transforms how Governments conduct business

SAP Africa kicked off its public sector innovation roadshow in Johannesburg, to highlight how the SAP innovation solutions portfolio including, cloud and big data, supports all levels of government. Read More

ATCON roots for spectrum market

NCC board chair Peter Igho, Commisisoner  Mrs Biodun Olujimi, and ATCON chief Lanre Ajayi ATCON has urged the Nigerian Communications Commission to enable the creation of a “spectrum market” where the scarce airwaves could be bought and sold. Read More

MACRA cautioned as court okays ‘Spy Machine’

Three days after the Supreme Court of Appeal in Blantyre ruled that Malawi Communication Regulatory Authority (MACRA) can roll out the Consolidated ICT Regulatory Management System (CIRMS) which is popularly known as ‘the Spy Machine’, the country's consumer rights body has cautioned the regulator on the use of the ... Read More

Fake NIN enrolment agents on prowl, warns NIMC

Nigeria’s National Identity Management Commission (NIMC) has raised the alarm over reports making the rounds that eligible applicants must pay certain sums of money before they could enroll for the National Identification Number (NIN). Read More

ICT-enabled census to make a difference in DRC

MONUSCO/Myriam Asmani, Wikimedia DRC’s first census in 30 years will be supported by ICTs to ensure a fast and faultless process. Read More

NCS tasks govt on R&D funding

The Nigeria Computer Society has urged the Federal Government to increase funding of R&D. Read More

Policy Interventions can eliminate operational barriers - Mascom

Mascom Marketing and Public Relations Executive Tebogo Lebotse-Sebego says the creation of an enabling legislature and policy interventions can help Botswana overcome its ICT obstacles. Read More

DRC Police to launch digital call centre

In October this year, the government of the Democratic Republic of Congo (DRC) will launch a digital call centre equipped with computers, fast internet and other latest technology tools to enable the police to respond timely and effectively to any kind of distress calls by the people. Read More

Angola Online free internet project launched in Luanda

Angola’s Ministry of Telecommunications and Information Technologies, in partnership with the National Center for Information Technology, has officially launched the digital project "Angola Online", which aims to roll out internet access to five million Angolans by 2017. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

MFarmer SMS redefines market access for Ugandan farmersMFarmer SMS redefines market access for Ugandan farmers

Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures. 

IN DEPTH

NIG President speaks his mindNIG President speaks his mind

Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.