Dr. Mike Adenuga
Business magnate Dr. Mike Adenuga has made overtures to the federal government to acquire the state-owned telecommunications company,NITEL and its mobile subsidiary, MTel, for $450 million under the willing buyer-willing seller basis to be undertaken by the Bureau of Public Enterprises, in a last ditch effort to sell the troubled telecom firm.
Source : http://www.thisdaylive.com/articles/adenuga-moves-to-take-over-nitel-for-450m/96018/

This guy just bought the biggest gas reserve in nigeria and here he is to buy this, its obvious our political class are out to ruin nigeria. FRESH AIR

blink182:

This guy just bought the biggest gas reserve in nigeria and here he is to buy this, its obvious our political class are out to ruin nigeria. FRESH AIR

This is pure envy and hatorade. If you have your money, make your own bid higher than his, and see whether they will sell to you or not.

If you can't bid, just shut the hell up and let a patriotic Nigerian save a national treasure. Bigot!!

djustice:

This is pure envy and hatorade. If you have your money, make your own bid higher than his, and see whether they will sell to you or not.

If you can't bid, just shut the hell up and let a patriotic Nigerian save a national treasure. Bigot!!

 

The is already a bullet with his name on it.It is just a matter of time.

Care to tell us why?

They should give it to him for free if he agrees to take on all the debt. Nitel has been completely run down by successive useless governments. There is hardly anything of value left.

blink182:

This guy just bought the biggest gas reserve in nigeria and here he is to buy this, its obvious our political class are out to ruin nigeria. FRESH AIR

DING DING DING!!!! Imagine that  . . . Nitel for a mere $450? Na steal?? I hope this is not another monopoly!

Kobojunkie:

DING DING DING!!!! Imagine that  . . . Nitel for a mere $450? Na steal?? I hope this is not another monopoly!

I think he will take over the debts too won't he? $450m not $450 lol, That's a lot though considering nitel is already dead to Nigerians,

My problem remains the fact that price will be closely controlled and that is bad, The success of Nitel could be a good thing for Nigerians. I support private sectors but I also support public options to keep the balance or what do you think?

NITEL dead?? Come on!!! If a business is not being managed well, ofcourse it will appear dead. That don't mean it is worthless. NITEL is HUGE MONEY BUSINESS. if Even one country gets single control, and manage it well, we are talking exponential growth, capable.

Kobojunkie:

NITEL dead?? Come on!!! If a business is not being managed well, ofcourse it will appear dead. That don't mean it is worthless. NITEL is HUGE MONEY BUSINESS. if Even one country gets single control, and manage it well, we are talking exponential growth, capable.

So it all boils down to mismanagement, Not like I support the selling of Nitel because if well maintained will be the people's bargaining power against other telecom giants! But at the same time, I haven't heard the phone ring since I've been going to back to Nigeria, I think out of mismanagement, it has become obsolete, Nitel should have expanded to internet provision etc, but it failed at that too, I don't know about mtel though!!

Honestly, I think these idiots did all this intentionally -- I think they intentionally useless most of what we have so they could sell it for a buck or two to one of theirs, and in turn own a piece of the result that way.

He will make a killing off of this if he wins the bid. Faster/cheaper internet access I think will be an end result of this too, I hope? Anyway, good for Nigeria (and Mike's pocket) if he can revitalize NITEL.

Nigerian government shouldn't sell it off too cheaply though. . . NITEL has Ma Bell-like profitability potential (well, at least on a Nigerian scale) if it is managed properly.

ekt_bear:

He will make a killing off of this if he wins the bid. Faster/cheaper internet access I think will be an end result of this too, I hope? Anyway, good for Nigeria (and Mike's pocket) if he can revitalize NITEL.

Nigerian government shouldn't sell it off too cheaply though. . . NITEL has Ma Bell-like profitability potential (well, at least on a Nigerian scale) if it is managed properly.

With the GLO1 fiber optic cable and NITEL infrastructure, he might be able to resurrect the company and make it profitable.

NITEL's problem was mismanagement - 15 years ago. Right now it is just dead.

If Adenuga buys it that would only give him rights to the frequency licences owned by NITEL/Mtel, perhaps rundown buildings and a couple of other durable assets. But if NITEL were an airline all its planes would be in the junkyard - and that is talking 15 years ago.

He is probably willing to take the risk because he has a big enough tele-company on ground, in Nigeria, that can support its revival - he must be careful though.

0lumide:

So it all boils down to mismanagement,  Not like I support the selling of Nitel because if well maintained will be the people's bargaining power against other telecom giants! But at the same time, I haven't heard the phone ring since I've been going to back to Nigeria,   I think out of mismanagement, it has become obsolete,  Nitel should have expanded to internet provision etc,  but it failed at that too,  I don't know about mtel though!!

koruji:

NITEL's problem was mismanagement - 15 years ago. Right now it is just dead.

If Adenuga buys it that would only give him rights to the frequency licences owned by NITEL/Mtel, perhaps rundown buildings and a couple of other durable assets. But if NITEL were an airline all its planes would be in the junkyard - and that is talking 15 years ago.

He is probably willing to take the risk because he has a big enough tele-company on ground, in Nigeria, that can support its revival - he must be careful though.

You are right. If not for the licences, I doubt if he would bother with NITEL.

he shld buy NEPA too___¸

most important

sad day for Nigeria --- another monopolist.

Kobojunkie:

NITEL dead?? Come on!!! If a business is not being managed well, ofcourse it will appear dead. That don't mean it is worthless. NITEL is HUGE MONEY BUSINESS. if Even one country gets single control, and manage it well, we are talking exponential growth, capable.

Which growth? . What exactly is attractive in NITEL?. It is a dead company for Gods sake and I do believe he is only buying their fixed assets which will surely enrich his estate business.

onila:

[b]he shld buy NEPA too[/b]___¸

most important

good point

@koruji: What of the landlines? And doesn't NITEL have a monopoly on installed new landlines for data/voice?

It is that monopoly which I'd be keen on acquiring if I had the money to buy NITEL.

Yes, that would be one of the benefits. I don't know much about the lifespan of land-lines but from what I use to know about NITEL connections the land-lines are probably also junk at this point, except in a few critical cities, may be. He might have to tear it all out - in which case all he would really be getting is the nationwide right of way.

I seem to remember that Adenuga already has a licence to operate a landline phone company along with his mobile licence (but I could be wrong). The extensive infrastructure requirement is probably a major impediment to its take off, so that taking over NITEL for the land-line right of way would make even more sense for him.

ekt_bear:

@koruji: What of the landlines? And doesn't NITEL have a monopoly on installed new landlines for data/voice?

It is that monopoly which I'd be keen on acquiring if I had the money to buy NITEL.

Nitel's fiber optic cable could be used to transmit broadband internet and cable TV to consumers, which will be faster and reliable than satellite.

So you are saying that NITEL does have fiber optic cable in place? I didn't know that?

Princek12:

Nitel's fiber optic cable could be used to transmit broadband internet and cable TV to consumers, which will be faster and reliable than satellite.

Question: Do Telecomms companies still pay Interconnectivity to Nitel?

due to road construction, their fibre optic links are also balkanized and for the most part, useless

It is a clear indication that the Nigeria Govt. lacks the basic business skill and hence no govt. business and venture has ever succeed. What we need is what the government is doing sell off all the business, however have a good price control and regulatory mechanism to be in place to checkmate exploitation (ie if the government cares for it's citizen).

Hmmm. . Adenuga! Adenuga!! Adenuga!!! I reserve my comment.

obowunmi:

sad day for Nigeria --- another monopolist.

True!

onila:

he shld buy NEPA too___¸

most important

Yes, he should look  into buying into the power sector. Better investment, bigger returns!

Hmm.many might not be happy but God may use him to raise the dead (Nitel). If he revives it, more jobs for people. I dont want to think monopoly right now. I hope it doesn't get to that

very soon it will clear to everyone.