China To Offer Nigeria 2 Satellites For A Stake In NIGCOMSAT

China To Offer Nigeria 2 Satellites For A Stake In NIGCOMSAT



Good news for all Nigerians as china will be giving out two (2) new satellites to improve the communication system in Nigeria

Mr. Adebayo Shittu (Minister of Communications) said that Nigeria had secured the commitment of China for the provision of $550 million towards the purchase of two additional satellites for subsequent launch into the space in the next two years.

He also added the China Exim Bank and China Great Walls, the manufacturers, had agreed to fund the project 100 per cent following Nigeria’s inability to fulfill the initial agreement it reached with China to provide 15 per cent of the $550 million. Nigeria’s satellite communications have hitherto been ineffective because the federal government-owned satellite company, NigComSat, has only one satellite which he said could not guarantee the confidence of prospective customers.

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