Abuja, July 26, 2024 -The Nigeria Communication Satellite (NIGCOMSAT) Limited generated double of its full-year 2023 revenue in the first half of 2024.
Dr Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, disclosed this on Twitter on Thursday.
He said the Nigerian satellite, which had not been put to good use for years, is now actively generating revenue.
NIGCOMSAT has not been generation reasonable revenue in the past years in spite of huge financial allocations from government.
The minister said: “Nigeria is the only country in West Africa with its own satellite. Historically and unfortunately, that satellite had not been put to good use. But this government is now putting it to good use.
“In fact, the revenue that NIGCOMSAT generated from the use of our satellite is already more than what we generated last year. I think we have already doubled what we’ve generated in 2023.”
