The Minister of Communications, Mr Adebayo Shittu, says the Federal Government plans to purchase two additional satellites for Nigeria Communication Satellite (NigComSat) at the cost of $550 million.
Shittu disclosed this on Saturday while speaking with newsmen at the end of the 4th National Council on Communication Technology meeting in Kaduna.
He said that the Federal Government was already negotiating with China EXIM Bank for the purchase of the two additional satellites for storage of Data.
According to him, efforts are being made to procure two additional communication satellites to complement the existing NigComSat as a means of reaching areas that cannot easily be covered by terrestrial fibre.
“We need just about 550 million dollars to acquire two new satellites; we are already negotiating with China EXIM Bank, who had assured us that they will deliver the money…