The Nigerian Minister of Communications and Digital Economy, Prof. Isa Ali Pantami has now announced that he has secured the approval of President Muhammadu Buhari to effect the purchase of a new communications satellite for the country.
The minister made the disclosure while speaking to the staff of the Nigerian Satellite Communications during a visit. He also disclosed that he has secured the consent of the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed to ensure that the funds required are part of the 2022 Budget.
READ ALSO: 5G Will Help Address Nigeria’s Security Challenges – Isa Pantami
There have been plans by the Federal Government to raise funds for two new satellites since 2017 which the Chinese Export-Import Bank promised to provide in the form of loans to the country to aid its development.
Although the agency was required to raise a 15% part of the required funds in order to be able to access the loans which it had been unable to do until now after it increased its revenue generation capabilities under Pantami’s leadership.
READ ALSO: Hurray!!! We Have Developed COVID-19 Testing Kits – Minister of Science
“The achievement of this one year has been better than the previous 10 years and within that 10 years there was a time N100 billion was released but this one no single Kobo was released to us. As the DG of NITDA, I increased the revenue generation of NITDA from N7 billion annually to N19 billion. Leverage on the opportunity and turn things around,” Pantami said in his statement about the improved financial situation of NITDA that has enabled it to take on this project.
Watch our trending video of the day below;
Photo Credit: Getty