26 October 2017

Nigeria: Satellite - Govt Moves to Stop N720 Billion Annual Loss

Nigerian Communications Satellite Limited (NIGCOMSAT) has signed a mutual backup service MOU with Berlintersat, at the Belintersat headquarters in Minsk, Belarus, in a bid to stop N720billion annual loss to lack of patronage of country's satellites.

Daily Trust had reported exclusively last month that government agencies and private firms refused to patronise NIGCOMSAT satellite due to non-availability of a backup satellite. The report said Nigeria loses N720billion revenue annually due to lack or low patronage of the country's satellites.

But a statement by the agency said the MOU which was signed by the Managing Director of NIGCOMSAT, Ms Abimbola Alale on behalf of the company and the Chief Operating Officer of Belintersat was witnessed by China Great Wall Industry Corporation (CGWIC), the manufacturer of both satellites.

Signing this MOU can be seen as a strategic move by NIGCOMSAT Ltd in reposition the company for commercial viability, a statement from the company said.

While speaking on the signing of the MOU the Executive Director, Marketing and Business development NIGCOMSAT, Samson Osagie said with the mutual backup service MOU NIGCOMSAT is poised to push its services further beyond the frontiers already covered as its clients no longer have any reason to worry about the absence of backup for NigComSat-1R.

Osagie enjoined corporate bodies to have confidence in NIGCOMSAT's ability to render seamless services to its clients.

He noted that NIGCOMSAT Ltd occupies a strategic position for the nation's economic and security architecture that it cannot be treated like other national assets that has been privatised.

He noted further that with the plans to acquire NigComSat-2 and NigComSat-3, NIGCOMSAT has been positioned for commercial viability and urged government to give effect to the Executive Order No. 2 which deals with Local Content, with specific reference to Satellite Communications in Nigeria.


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