NIGCOMSAT Seeks Global Investors As Nigeria’s 1R Satellite Expires 2026

The Nigerian Communications Satellite Limited (NIGCOMSAT) is seeking investors from across the globe, even as it begins the process of replacing NIGCOMSAT-1R, the nation’s satellite, which will expire in 2026, after completion of its 15 years lifespan.

Recall that a contract for the in-orbit delivery of the NigComSat-1R satellite was signed on March 24, 2009, by the China Great Wall Industry Corporation (CGWIC) and the Nigerian Federal Ministry of Science and Technology (NIGCOMSAT Limited). It was a replacement for the failed NigComSat-1 which was launched on May 13, 2007.

Later, on December 19, 2011, China at Xichang successfully launched NigComSat-1R into orbit. According to former President Goodluck Jonathan, this was made possible by the insurance coverage on the deorbited NigComSat-1.

Before it ends its 15-year life, the satellite was intended to be used for communications, internet services, health, agriculture, environmental protection, and national security. By offering service to Nigerian broadcast stations and telecom firms, the satellite was intended to save Nigeria billions of dollars in foreign cash.

The managing director of NIGCOMSAT, Jane Nkechi Egerton-Idehen, who announced the replacement moves on her LinkedIn page, said, as the satellite nears the end of its life, the Agency is taking proactive steps in ensuring a timely replacement.

RELATED

CBN Survey Shows Interest Rates Now Business Firms’ Biggest Constraint

18 hours ago

Fitch Upgrades Benue State, Affirms Lagos, Kaduna’s Ratings

18 hours ago

“You already know that Nigeria has a satellite in space, which has been operational since December 2011. As it nears the end of its life, we are taking proactive steps to ensure a timely replacement and have officially begun the process of replacing the existing NIGCOMSAT-1R. Now, we are calling for collaborators and investors to ensure the successful execution of this project,” she said in a LinkedIn post.

Egerton-Idehen said the call for expression of interest has been published in the Global Satellite Operator’s Association newsletter, to seek participation from global investors.

According to the notification that was published in the Association’s newsletter, the nation plans to launch NIGCOMSAT 2 and 3. With the development of NIGCOMSAT 2 & 3, NIGCOMSAT has announced a significant turning point in its goal to improve satellite communications.

“The organisation is calling for international collaborators and investors who share their vision to support this pivotal mission.

This endeavour not only represents a leap forward for NIGCOMSAT but also holds the promise of transforming connectivity on a regional and global scale,” the announcement read.