NCP Formally Approves Sale of NITEL, MTEL

NCP Formally Approves Sale of NITEL, MTEL

Vice President Namadi Sambo, chairman of NCP

National Council on Privatisation (NCP) on Thursday formally approved the sale of NigerianTelecommunications Limited (NITEL) and Mobile Telecommunications Limited (MTEL).

The networks were sold to NATCOM consortium.

Vice President Namadi Sambo presided over the council's 4th meeting held at the Presidential Villa, Abuja.

Mr. Atedo Peterside, Minister of Mines and Steel Development, Musa Sada; and the Director-General of the Bureau of Public Enterprises, Mr. Benjamin Dikki, jointly briefed State House correspondents shortly after the meeting.

Peterside told journalists that documentation and payments would come next since approval of the sale was given.

“At the end of the privatisation exercise, there was one bidder. Two were pre-qualified initially but only one attained the pass mark. That was NATCOM Consortium with $252mn.

“The NCP has confirmed the process. We now have a preferred bidder ratified by the NCP."