TMCnet News
Govt Shortlists Natcom, Nectar for Nitel Takeover(AllAfrica Via Acquire Media NewsEdge) THE third meeting of the National Council on Privatization (NCP) Monday pre-qualified NATCOM and NECTAR Consortiums for the take over of the Nigerian premier telecommunications company, Nigerian Telecommunications Limited (NITEL) and its subsidiary, Mobile Telecommunication Limited (MTEL) under the government guided liquidation Programme. In a media briefing presided over by Vice President Mohammed Namadi Sambo, Minister of Solid Minerals Development Mohammed Musa Sada, said the meeting deliberated on the evaluation torts for the expression of interest (EoI) on the guided privatization of both NITEL and MTEL. Flanked by Works Minister Mike Onolememen and the Director-General of the Bureau for Public Enterprises (BPE) Mr. Benjamin Dikki, Sada confirmed that a least 17 investors had signified interest to buy the Nigerian Telecommunications Ltd (NITEL) and its mobile arm, Mobile Telecommunications Ltd (MTEL), under the ongoing guided liquidation exercise of the national carrier. his followed earlier calls by the liquidator, Olutola Senbore & Co, appointed by the Federal Government to dispose off the companies for the expression of interest and subsequently announce bidders for the asset after the June 30 deadline for expression of interest (EoIs). Sada disclosed that after consideration of the evaluation reports, the two firms with 90.7 and 90.2 percent scores respectively were shortlisted for the financial bid "The criteria are being followed and out of this 17, two have been short listed and the two companies are NATCOM consortium and NECTAR consortium, these are group of investors in the sector, with 90.7 and 90.2 percent respectively" NATCOM, a consortium, was created in April 2010 between the Group Viettel Telecom, with 60 percent equity and the Bank of the Republic of Haiti with 40 percent equity with strong interest in the telecommunications sector in Haiti since the launch of its services in Haiti in September 7, 2011. "The company is the largest foreign investment project post-earthquake Haiti that has fundamentally changed the landscape of telecommunications in Haiti, by providing a high-speed bandwidth through its network of 3,500 kilometers of fiber optic cable broadband throughout Haiti, which allows high-speed stability and a high-quality connection." "You will agree with me that efforts at getting NITEL back on stream has been very strenuous because of so many issues, so many problems, but this time around, there has been strong efforts so that we do not go back to what we had before. With what is put in place, we are very confident that we would only move forward to take us to the appropriate destination" "The idea here us for us to have a working institution not necessarily a situation where these assets are just dispensed with for whatever reasons." "Our target is to make sure that NITEL, MTEL come back. They have very robust assets and it will be a very good thing for the country. Mobile telephones and networks are not substitute for land lines and that is why we are doing everything to be able to bring it back to work." NCP also deliberated and approved the request for the concession of the Warri Ports Complex to Associated Marine Services Ltd and the transfer of Federal Government 51 percent holdings in the Stallion Development Properties Ltd to the NNPC Pension Fund. He said the approval was consequent of the 'no objection' decision forwarded to the council by the Minister of Transport and managing director of Nigeria Ports Authority. The NCP dismissed media reports on alleged asset-stripping of the Aluminum Smelter Company Ltd., (ALSCON), saying that it was yet to make an official statement on the issue. The Council frowned at the reports in a section of the media, saying there was no such stripping of assets of the Aluminium Smelter Company of Nigeria, ASCON by the concessionaires. Sada stated that the reports were uncalled for as the conclusion of the council's committee set up to investigate the allegations has not analyzed or made its report available. Works Minister also told journalists that the Federal Government had also relinquished it 51 percent holding shares at Stallion Property Development Company for the Nigerian National Petroleum Corporation Pension Limited. Sada had further explained the process which came to fore due to non-lodgment of fund into the NNPC pension scheme in time past. Copyright The Guardian. Distributed by AllAfrica Global Media (allAfrica.com). |