By Dipo Olowookere
Frantic effort is being made by the Federal Government to secure a loan of $550 million from China NEXIM for the acquisition of two additional satellites to adequately equip NIGCOMSAT to discharge its duties.
This information was disclosed by the Minister of Communications, Mr Adebayo Shittu, during an interactive meeting with stakeholders on the establishment of the proposed ICT University of Nigeria, ICT Development Bank and ICT Park and Exhibition Centre.
The Minister highlighted the critical concerns of his ministry to include acquisition of two satellites, $350 million for Galaxy Backbone to complete the funding of its project, the proposed ICT University, as well as the ICT Park and Exhibition Centre and the ICT Development Bank.
Mr Shittu challenged the Central Bank of Nigeria (CBN) to assist in creating a platform for the smooth take-off of the proposed ICT Development Bank, urging other stakeholders to consider investing in these five specific areas, because ICT being the greatest enabler, also has great investment opportunities.
