Discussions on Nigcomsat’s Privatisation have started

Mergers, Acquisitions and Financial Results

Vice-President Goodluck Jonathan met with the National Security Adviser (NSA) and other stakeholders, to decide on t he proposed privatisation of the Nigeria Communication Satellite Limited ( NIGCOMSAT).

The proposed privatisation of the company was suspended by President Umaru Yar'Adua in November, following a submission b y the NSA, Maj.-Gen. Abdullahi Mukhtar, on the security implication of the exercise. The Federal Executive Council had earlier approved the privatisation of the company, expected to go into full-scale commercial operations.

Jonathan said the meeting was meant to address the security concerns, and forward a final agreement on the matter to the federal executive council. "Anything that affects the security of the nation, the executive council will look at it 10 times, because security is paramount," he said. The stakeholders at the meeting include the Minister of Information and Communication, Mr John Odey, and his National Planning counterpart, Alhaji Sanusi Daggash.

Others were the NCC Vice-Chairman, Ernest Ndukwe, the Managing Director of NIGCOMSAT, Alhaji Ahmed Rufa'i, BPE Director-General, Mrs Nkechi Chigbue, and officials of the Ministry of Science and Technology.