$11.4m Debt Allegation False, Partnership With Chinese Firm Intact

The Nigerian Communications Satellite Limited (NigComSat) has firmly refuted circulating reports that it is indebted to the tune of $11.4 million to its Chinese technical partner, China Great Wall Industry Corporation (CGWIC), insisting that the business relationship between both parties remains robust and devoid of any crisis.

Recent reports had suggested that the Chinese aerospace firm issued a 30-day ultimatum to the Nigerian government over an alleged outstanding debt, threatening to withdraw operational support services for the nation’s communication satellite if the sum was not settled.

However, in a swift reaction, the satellite agency dismissed the narrative as misleading and lacking in factual evidence, revealing that it had immediately reached out to its partners to verify the claims.

Head of Corporate Communications at NigComSat, Stephen Kwande, disclosed that the organisation promptly contacted its Chinese counterparts following the emergence of the reports. He stated that CGWIC disowned the information, expressing surprise at its circulation.

“It is unclear where this misleading information is coming from,” Kwande stated. “We have been in touch with our business partners, the executives and representatives of CGWIC in Nigeria, and they have made it clear they are not the ones giving out such information.”

He further emphasised that the controversy has not strained the cordial working relationship between the two entities, noting that recent engagements have been positive and forward-looking.

“Our relationship with our business partners CGWIC is not in any crisis as reported, and we continue to remain strong in our business relationship and partnership,” he affirmed.

Kwande providing insight qinto the nature of the partnership, the spokesperson clarified the financial dynamics between the organisations, dismissing the debt figure as inaccurate. He explained that the relationship operates on a standard service-for-fee basis, which is currently being managed without dispute.

“We don’t owe that kind of money. We are business partners; they render services and they get paid,” Kwande said. “It is good to note that the Chinese are our good business partners, and we respect that relationship.”

Kwande also disclosed that both parties recently held a strategic meeting to reinforce their collaboration. “During our meeting on Wednesday, both parties reaffirmed their commitment to maintaining a constructive working relationship,” he added.

An official with direct knowledge of the discussions, who spoke on condition of anonymity, questioned the motive behind the false narrative, pointing out that ongoing talks between Nigeria and the Chinese firm are centred on expansion, not debt recovery. The official specifically referenced President Bola Ahmed Tinubu’s approval for the launch of two new satellites, which currently forms the core of discussions with the vendor.

“I am not aware of who is pushing this information because the whole pipeline now is to launch two new satellites, which the President has already approved,” the official revealed.

However, the source corroborated the official stance, stating that the Chinese vendor has confirmed it is not behind the circulating reports. “I just had a meeting with my vendor recently and the vendor told me they are not the one pushing this information. So, I am not aware of who is trending it,” the official stated.