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NIGCOMSAT eyes slice of $86bn global satellite industry

Nigerian Communications Satellite Limited (NIGCOMSAT) is looking to gets a share of the $86billion  a year global satellite industry, if it can transform into a competitive commercial outfit.

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Nigeria loses N720billion annually due to low patronage of the country’s satellites.

Communications minister Adebayo Shittu, said in a statement Monday that efforts were being made to turn the satellite agency into a competitive service provider which would manage government investment in communications satellite through commercialization.

Shittu disclosed these in Abuja when he inaugurated the new Executive Directors for NIGCOMSAT, according to the statement.

The Minister said ever since the launch of NIGCOMSAT 1R in 2011, several efforts have been made to optimizing the value of the satellite limited success.

“Of note, however has been the recent initiative to introduce Direct-To-Home Television Broadband and Global Positioning Services in the first robust attempt to commercialise NIGCOMSAT 1R and appropriately position the Company in global $86bn annual revenue industry”, the statement quoted the minister as saying.

The minister urged the managing director, newly appointed executive directors and the entire management staff of NIGCOMSAT to put all hands on deck and cooperate with one another to ensure the successful commercialization of NIGCOMSAT and make it self-funding, and  as well as a source of major revenue generation to the Federal Government.

The Managing Director of NIGCOMSAT Abimbola Alale represented by Mr Shehu Malami Bello congratulated and welcomed the newly appointed Executive Directors, and expressed readiness to work with them.

The three newly appointed Executive Directors are; Mr Kazeem Kola Raji, Alhaji Mohammad Lema Abubakar and Barr. Samson Osagie.

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