Disagreement over SAT 3 asset may stall NITEL privatization

Africa & Middle East Telecom,  October, 2005  by Anonymous

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NIGERIA

A disagreement between the Ministry of Communication and Bureau of Public Enterprises (BPE) over the sale of Nigerian Telecommunications (NITEL) stake in the SAT 3 submarine cable project may stall the privatization of the national carrier.

The SAT 3 cable project connects Africa with Europe and is a major revenue earner for NITEL

NITEL spent some $45 million, about N5.9 billion, in 2002 to co-own the facility, which runs through the Atlantic ocean linking countries along the route.

Investigations by the News Agency of Nigeria (NAN) in Abuja revealed that the ministry of communications had ...

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