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NITEL Privatization Bids: NATCOM emerges the winner

The race for the NITEL privatization bid is over; NATCOM finally emerges as winner

NATCOM wins NITEL privatization bid

After the Federal Government of Nigeria through the bureau of public enterprises had opened bids to the public as to privatization of the Nigerian Telecommunications PLC (NITEL) and the Nigerian Mobile Telecommunication (MTEL), NATCOM won the bidding being the highest bidder to the tune of $252 million yesterday.

This bid was a counter bid after an early one of $221 million had been rejected by the federal government initially with the company raising their bid to the now successful $252 million.

The Director General of Bureau of Public Enterprises, Mr. Benjamin Dikki while speaking at the occasion, reminded the public of the reform and freeing of the Nigerian Telecoms sector through which the sector has made laudable successes as regards privatization of both MTEL and NITEL which has been unsuccessful in the past times.

He also highlighted his hope that the winning bidder (now NATCOM) would not only beat the deadline for settlement of the purchase consideration fee, but would also send out the needed resources to rebuild and grow the enterprises.

Nigeria’s Minister of Communications & Technology, Omobola Johnson who was also present at the occasion said, that the privatization of these two enterprises (NITEL and MTEL) would be the last step in the telecoms sector reforms.

“Privatizing MTEL and NITEL is the concluding phase of the much needed step reforms of the telecoms sector;

It is our ever living hopes that today’s occasion would lead the way for the final emergence of a qualified bidder who has the needed requisite technical experience and financial stability to move these two companies higher in line with the foresight of the government,” she said.

After payment of the bidded sum of $252 million, NATCOM will then take official ownership and control of both enterprises thereby ending the long awaited bidding for the privatization in the telecoms sector.

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