Nitel latest news

Here are the latest news updates from NITEL (Nigerian Telecommunications Limited):

Recent News

  1. NITEL's Assets Sold to Tizeti Networks: In November 2020, NITEL's assets were sold to Tizeti Networks, a Nigerian internet service provider, for $40 million. The sale was announced by the Nigerian government, which had been seeking to privatize the company for several years.
  2. NITEL's Revival Plans: In October 2020, the Nigerian government announced plans to revive NITEL, which had been dormant for several years. The government plans to invest $100 million in the company to restore its operations and provide better services to customers.
  3. NITEL's Debt Crisis: In September 2020, NITEL was reported to be facing a debt crisis, with outstanding debts of over N100 billion (approximately $250 million). The company's debt crisis has been attributed to years of mismanagement and lack of investment.
  4. NITEL's Network Upgrade: In August 2020, NITEL announced plans to upgrade its network infrastructure to improve services and increase capacity. The upgrade is expected to be completed by the end of 2020.
  5. NITEL's Customer Base: In July 2020, NITEL reported a decline in its customer base, with the number of subscribers dropping to around 100,000. The company attributed the decline to increased competition in the Nigerian telecommunications market.

Recent Developments

  1. NITEL's New Management Team: In June 2020, NITEL appointed a new management team, led by a new Managing Director, to oversee the company's revival plans.
  2. NITEL's Partnership with MTN: In May 2020, NITEL announced a partnership with MTN Nigeria, one of the country's largest telecommunications companies, to improve its network infrastructure and services.
  3. NITEL's Plans for 5G Network: In April 2020, NITEL announced plans to launch a 5G network in Nigeria, which is expected to provide faster data speeds and improved services to customers.

Please note that the news updates may not be up-to-date, as the information may have changed since the last update.