The Federal Government, yesterday, formerly handed the Nigerian Telecommunications Limited, NITEL, and its subsidiary, Mtel , over to NATCOM Consortium 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 licences of NITEL and Mtel 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 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.
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