China is offering Nigeria two telecom satellites which in return will take a stake in Nigcomsat the China-owned satellite communications management company that only has a satellite so far.

If Nigeria agrees to this offer it will be having two new satellites, also speaking about negotiation, Exim Bank if China and the China Great Wall constructor, the both firms have pledged full support and has agreed they would pay for the satellite in a bid for the benefit of our dear Country Nigeria, this announcement was made by Adebayo Shittu, Minister of Communication in Nigeria.

The new agreement exempts Nigeria from covering 15% of the original $ 550 million contract cost, China will take a stake in Nigcomsat. Although no word yet on the percentage that the middle empire will offer

Adebayo Shittu also said,

"This is a very big business opportunity … that’s why they agreed that even without our ability to contribute 15%, they are willing to pay the entire $ 550 million for the purchase of the two new satellites for Nigeria.”

From our findings, the satellites will be launched in a production period of two years after signing of the contract which should occur before the month runs out.

Adebayo Shittu concluded,

“The first thing is that we want to make a profit, we want to capture the local market and we also want to conquer the African market.”

Source: http://www.techsphere.com.ng/china-is-offering-nigeria-two-telecom-satellites/

Lalasticlala
Ishilove
Semid4lyfe
Mynd44
Obinoscopy
Marpol
Seun

The functions of these satellite need to be define to the populace.