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China is offering Nigeria 2 satellites for a stake in NIGCOMSAT

nigcomsat

This is another great improvement in nigeria as china will be giving out two (2) new satellite to Nigeria, it will improve the communication system in the nigeria.

Mr. Adebayo Shittu (Minister of Communications) said  that Nigeria had secured the commitment of China for the provision of $550 million towards the purchase of two additional satellites for subsequent launch into the space in the next two years.

He also added the China Exim Bank and China Great Walls, the manufacturers, had agreed to fund the project 100 per cent following Nigeria’s inability to fulfill the initial agreement it reached with China to provide 15 per cent of the $550 million. Nigeria’s satellite communications have hitherto been ineffective because the federal government-owned satellite company, NigComSat, has only one satellite which he said could not guarantee the confidence of prospective customers.

The trend, he said, compelled companies operating in Nigeria to purchase satellite communications data abroad, adding that after the formal signing of agreement for the take-off of the project which he said would take-off on January 27, the manufacturing of the satellites will commence.

“Well, it has not been brought to out notice. Globacolm is a private Nigerian company which has right to offshore business. If they approach us, that means we must intervene but the first thing must come from the company first on whatever is happening in Benin Republic,” he added.

About Ayorinde Ayodeji

Ayorinde Ayodeji is the CEO of caffinegeeks. When he’s not busy making Caffinegeeks Products better, you can find him Biking, Coding, and Making researchs.Web developer and SEO Expert by heart.

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