Nigeria’s indigenous telecommunications firm, NatCom Development and Investment Ltd, trading as ntel, has announced plans to relaunch commercial operations in January 2026.
Ahead of the relaunch, ntel on Tuesday, October 21, unveiled a new board of directors to steer the company’s revival efforts under the continued chairmanship of Gen T.Y Danjuma (Rtd).
According to a company statement, the newly appointed board members include Adeleke Alex-Adedipe, Ayodeji Joshua Richards, Maryam Mutallab, Olaide Aremu, and Soji Maurice-Diya, who will serve as Managing Director (MD) and Chief Executive Officer (CEO).
Ntel said the restructuring aligns with its renewed commitment to revitalising Nigeria’s telecommunications ecosystem by strengthening finances and leveraging its existing nationwide infrastructure.
"The change reflects ntel’s renewed focus on serving the Nigerian telecommunications ecosystem at large, reenergizing finances and unlocking value from its existing infrastructure," the company stated.
It added that under its new leadership, ntel is implementing a turnaround plan aimed at ensuring cash-flow stability, monetising nationwide assets, and restoring full commercial operations through broadband and roaming services.
The company further disclosed that it is exploring short-term revenue streams through the monetisation of its telecommunications and real estate assets across the country.
In a joint statement, the board described the development as a "defining moment" in ntel’s recovery journey.
"We are re-energised by the opportunities ahead and look forward to unlocking greater value from our infrastructure while shaping a sustainable, future-focused business.
"Bringing seasoned professionals onto the board strengthens governance and accelerates the execution of our turnaround strategy," the statement read.
The latest leadership changes come after ntel secured fresh but undisclosed funding facilitated by the Asset Management Corporation of Nigeria (AMCON), which currently holds a 55 per cent stake in the company.
AMCON’s ownership stems from its 2015 intervention in NatCom (NATCOM), the consortium that acquired the defunct NITEL and MTel, rescuing the operator from financial distress.
With the upcoming relaunch, industry watchers say ntel’s return could rekindle competition in Nigeria’s telecom sector, provided the firm successfully leverages its legacy infrastructure and new management expertise.
Comments
Post a Comment