At Last! NATCOM Injects $1bn In NITEL, To Start Operations

The new owners of NITEL, known as NATCOM Development and Investment Limited, and its sister firm, Mobile Telecommunication Ltd. (Mtel), has reportedly spent about $1billion to turn things around.

The chairman of NATCOM, Olatunde Ayeni, said that the funds and other efforts would see the company engage 4,000 employees by March 2016 as it sets to roll out its mobile lines and 4G/LTE services.

Ayeni told House of Reps Joint Committees on Communication and Privatisation that his company would begin a phased rollout from Abuja, Lagos, and Port Harcourt before expanding to other cities.