FG has no plan to sell NIGCOMSAT -Moghalu

The Federal Government has ruled out the sale of the Nigeria Communications Satellite, NIGCOMSAT, Ltd even at it plans to ensure its full financial autonomy in the near future, Board Chairman of the government funded communication firm, Dr. George Moghalu has disclosed.


Moghalu made this known when speaking at a three-day Board and Management retreat in Abuja on Thursday.


He explained that although the federal government will not sell the company, the management and staff should brace up to ensure that NigComSat survives on its own considering plans by government to stop funding the satellite company.


He said the responsibility to ensure that NIGCOMSAT Ltd survives as an independent entity falls on all in the company.


‘This retreat is one of the many steps we require to ensure that we are equipped to do what is required of us to ensure that NIGCOMSAT Ltd is able to succeed in this new regulatory and economic environment’.



He said the retreat was primarily organised to troubleshoot on the factors that may have hindered the growth and profitability of the company.


‘We are here to enquire as to what must be done to change the prognosis and improve the outcomes for NIGCOMSAT Ltd. We are here to develop a program of short, medium and long-term objectives that if executed with panache and dedication, will allow this company to triumphantly emerge from this period of regulatory and economic turmoil, unscathed and better positioned to create new opportunities for commercial success even whilst taking advantage of the opportunities that already exist’, he added.


In a keynote address, Permanent Secretary, General Services Mr. Segun Adekunle, who represented the Secretary to the Government of the federation, Mr Boss Mustapha, commended NigComSat’s Board, Management and Staff for organising the retreat, saying provides a rare opportunity for colleagues to familiarize towards opening new opportunity and tackling challenges that lies ahead for the organisation, the satellite industry and Nigeria in the sector.


He said that, the opportunity available is ideal for the ICT sector to drive a knowledge-based economy. Therefore, NIGCOMSAT Ltd is central to it reiterating that satellite bandwidth is the new currency in e-governance, e-commerce, e-education and e-health to mention a few.


In his contribution while declaring the retreat open, the Minister of Communications, Barr. Adebayo Abdur-Raheem Shtittu commended the Board and Management of NIGCOMSAT Ltd for the foresight of organising this retreat.


Shittu who was represented by Mr. Wole Kolawole observed that the retreat is an opportunity for frank discussion and cross fertilisation of ideas on how NIGCOMSAT Ltd can stand solid to deliver on its mandate.


Earlier in her welcome address, the Managing Director, Chief Executive Officer, Abimbola Alale said the retreat was an opportunity to brainstorm on the growth of NIGCOMSAT Ltd in order to better reposition, restructure the firm towards enhanced service delivery.


According to her, topmost priority for this retreat is to properly introduce the organisation, its unique challenges and opportunities to the new board.




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