Connect with us

Business

NATCOM Consortium Emerges Preferred Bidder For NITEL, MTEL

Published

12 years ago

on

Acting Branch Controller, CBN, Mr Emmanuel Etuk (left) who represented Mr Ndubisi Jude Ekwebelen, Port Harcourt Branch Controller, chatting with Corproate Communciation Manager, Mr Obinali Okoli (right) during a workshop on Financial Inclusion, CBN in Port Harcourt recently. Photo: Chris Monyanaga

Acting Branch Controller, CBN, Mr Emmanuel Etuk (left) who represented Mr Ndubisi Jude Ekwebelen, Port Harcourt Branch Controller, chatting with Corproate Communciation Manager, Mr Obinali Okoli (right) during a workshop on Financial Inclusion, CBN in Port Harcourt recently. Photo: Chris Monyanaga

NATCOM Consortium has emerged the preferred bidder for the acquisition of Nigerian Telecommunications Plc (NITEL) and Nigerian Mobile Telecommunication (MTEL).
The reserved bid price was 252.25 million dollars.
The Chairman, Technical Committee of the National Council on Privatisation (NCP), Mr Atedo Peterside,  disclosed this in Abuja on Wednesday during public opening of financial bid for acquisition of the two companies.
Peterside said NCP approved privatisation of the two companies in February 2012 through guided liquidation after a review of previous failed attempts.
He said expressions of interest were received from 17 organisations and consortiums by June 30 deadline, adding that only two of them met criteria for pre-qualification.
According to Peterside, the two successful bidders, NATCOM Consortium and NETTAG Consortium met the minimum pass mark of 75 per cent and were pre-qualified and issued Request for Proposal (RFP).
He said NETTAG Consortium was disqualified for failure to enclose a bid bond as stated in the RFP.
“Section 10.3.1 of the RFP requires that each bidder shall furnish, as part of its proposal, a bid bond in the form of a Bank Guarantee or a Letter of Credit in the sum of 10 million dollars.
“Section 10.3.2 of the RFP further specifies that any technical proposal not accompanied by the bid bond will be disqualified.
“Therefore following the disqualification of NETTAG Consortium as a result of its failure to submit a bid together with its technical proposal, only the financial bid of NATCOM Consortium qualified for opening today,” he said.
He said NATCOM scored an average of 92 per cent in its technical proposal, which was above the minimum mark of 75 per cent.
“As stipulated in the RFP, payment of 30 per cent of bid price is to be made within 15 days of notification and the balance will be paid within 90 days,” he said.
The Director General, Bureau for Public Enterprises (BPE), Mr Benjamin Dikki, said efforts to privatise NITEL and MTEL had been unsuccessful even though there was progress in the telecommunication sector.
He said the bureau had numerous challenges which included outstanding unpaid terminal benefits of ex-staff of NITEL and MTEL and arrears of salaries of trained staff, among others.
He also said that there was the challenge of huge accumulated unpaid licence and other fees due to Nigerian Communication Commission.
The Minister of Communication Technology, Mrs Omobola Johnson, said liberalisation of the sector in the last 13 years had attracted new investment of over 32 billion dollars from private sector.
Johnson said the investment had resulted in an increase in the number of subscribers from 750,000 to over 130 million, and that of teledensity from less than 30 per cent to 96.08 per cent.
She said the privatisation of NITEL and MTEL was the final step in the reform of the telecommunications sector.
According to Johnson, government will continue to review and fine tune policies to provide enabling environment for growth and development of private sector-driven telecommunications industry.

Print Friendly, PDF & Email
Related Topics:
Continue Reading

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

3 weeks ago

on

July 3, 2026

By

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and  environmental crisis that has forced residents to abandon their homes.
The first incident occurred  along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.
This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.
In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said  the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.
According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.
Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.
The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.
“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.
The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.
The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.
The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.
Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent  loss of lives and environmental damage.
Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.
Enoch Epelle
Print Friendly, PDF & Email
Continue Reading

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

3 weeks ago

on

July 3, 2026

By

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.
Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.
The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.
The exercise is expected to reach more than 60,000 regular undergraduate students.
Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.
He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.
According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.
He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.
The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.
Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.
Nkpemenyie Mcdominic, Lagos
Print Friendly, PDF & Email
Continue Reading

Business

NPA Launches Multi-Agency Taskforce To Combat Apapa Traffic Gridlock

Published

3 weeks ago

on

July 3, 2026

By

The Nigerian Ports Authority (NPA) has launched a multi-agency task force to combat the resurgence of traffic gridlock choking the Lagos Port access roads, in a fresh push to restore seamless cargo evacuation and sustain recent gains in Port efficiency.
The intervention followed a stakeholders’ meeting convened by the Managing Director of  NPA, Dr. Abubakar Dantsoho, on June 23rd, 2026, where security agencies, freight forwarders, truck operators and representatives of the Lagos State Government agreed on coordinated measures to eliminate the bottlenecks disrupting cargo movement.
At the meeting, stakeholders identified illegal extortion points, overlapping responsibilities among security agencies and other operational distortions as major factors responsible for the renewed congestion along the port corridor.
Speaking on the outcome of the meeting, the NPA’s General Manager, Corporate and Strategic Communications, Mr. Ikechukwu Onyemakara, said the Authority’s overriding priority is to guarantee the unhindered movement of cargo to and from the nation’s seaports.
According to him, the task force comprises the NPA, the Police, the National Association of Government Approved Freight Forwarders (NAGAFF), the Association of Nigerian Licensed Customs Agents (ANLCA), the Federal Road Safety Corps (FRSC), the Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO) and the Association of Maritime Truck Owners (AMATO).
“The responsibility of the task force is to monitor truck movement on the Port access roads on a regular basis, identify any disruption capable of causing gridlock and immediately resolve such challenges,” Onyemakara said.
He stressed that members of the task force would not establish checkpoints along the corridor but would maintain strategic presence at designated locations to ensure compliance without obstructing traffic.
To enhance rapid response, Onyemakara disclosed that the task force has created a dedicated WhatsApp platform through which members can instantly report infractions or emerging traffic issues for immediate intervention.
On the long-delayed renewal of the Electronic Truck Call-Up (ETO) system contract, the NPA spokesman said the Authority is reviewing the terms to ensure a more robust contractual framework before awarding a fresh agreement.
He explained that although the previous contract had expired, the ETO platform remains operational under the management of the Truck Transit Parks (TTP) pending completion of the procurement process.
He expressed confidence that the renewal would be concluded soon.
Reaffirming the Authority’s commitment to maintaining free-flowing Port access roads, Onyemakara said efficient logistics remain central to the NPA’s drive to improve Nigeria’s Port competitiveness and preserve its growing international reputation.
“We are more interested in the free flow of logistics into our ports than anyone else because it is in our own interest,” he said
Nkpemenyie Mcdominic, Lagos
Print Friendly, PDF & Email
Continue Reading

Trending