The federal government, through the National Council on Privatisation (NCP) and the Bureau of Public Enterprise (BPE), on Tuesday formally handed over the assets of the Nigerian Telecommunications (NITEL) and its mobile arm, Mobile Telecommunications (MTEL), to NATCOM Consortium.

NATCOM became the preferred bidder for NITEL and MTEL following the disqualification of NETTAG Consortium as a result of its failure to submit a bid bond with its technical proposal. Upon full payment of the purchase consideration of $252,221,000 ahead of the April deadline and presentation of certificates to NATCOM, the company is therefore expected to begin to roll out telecommunication services.

Vice-President Namadi Sambo, who also doubles as the Chairman of NCP, was represented at the handover ceremony in Abuja by Mr. Emmanuel Amadi. While commending President Goodluck Jonathan’s road map for the provision of robust telecommunications services, he said Nigeria would not attain the desired economic growth without adequate reforms and liberalisation of the sector to drive the nation’s economy.

According to him, the successful handover of NITEL and MTEL to NATCOM is a painstaking effort of NCP, BPE, the Ministry of Communication Technology and the liquidator, adding that the entrance of the investor will no doubt increase competition in the industry.

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[url]monitor9ja.com/2015/04/fg-formally-hands-over-nitelmtel-to-natcom/[/url]

all irregularities shall be revisited startin frm may29.. So no cause 4 alarm

Lol sell NITEL for $252m

Hope due process was followed?

We really need dis to work well for us.

Nigeria must grow.

I followed the process on TV, I just hope the new Investors will perform

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