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The Nigerian government has restated it has no immediate plans to privatise the country’s satellite communication asset, Nigerian Communications Satellite Limited (NigComSat).
Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, this week in Abuja, during an interaction with the media, said security remains a principal factor why government is reluctant to privatize the company.
NigComSat is currently being probed by the House of Representatives Committee on Insurance and Actuarial Matters.
The legislators are investigating “the failed $300 million launch of the NigComSat-1, as well the N180.9 million insurance premium allegedly paid for the failed NigComSat-1 project which was launched in 2007.”
NigComSat 1-R is a replacement satellite launched by the Chinese in 2011 for the initial NigComSat-1 satellite which failed in orbit in 2008 not long after it was launched.
Official cost for the original Nigcomsat-1 is usually put at $200 million. Other no less authoritative sources put the figure at between $300 million and $340 million to cover construction, launch and insurance for the satellite in its first year in orbit.
Since the investigation commenced this week, it has awaken the ogre for privatization with calls from concerned quarters that the company be sold to make it profitable.
But Pantami said government is not about to go back on its suspension of privatization of NigComSat.
“There have been improvements in the company and there are already moves to commercialize services of the company,” said the minister.
NigComSat was playing a significant role in the security strategies of battling threats to the country including the war against terrorists, he added.
