MINISTER of Communication, Adebayo Shittu has said the country would need an estimate of $250 to $300 million to provide an extra satellite for a more secure and safe investment
Shittu said this in Abuja during a facility tour to Nigerian Communications Satellite (NIGCOMSAT) Limited.
“We all know that all that we find here is just to support one satellite in-orbit. Nigeria currently has only one satellite in-orbit. One satellite is not enough.
“To have an extra satellite, you will be talking about$ 250 to $300 Million. Certainly, if we can get enough funding for the satellite, I can assure you two foriegn companies is willing to assist us fund this new project,” the Minister assured.
The Minister further said, “And the analogy for you to understand the risk and danger of having just one satellite is like a transporter who plies Lagos to Abuja with just four tires without an extra tire. If something happens on along the way, certainly he and all the passengers that must have paid for the fare would get stuck. That explains the need for us to have more than one satellite in-orbit so that all other countries, agencies and companies patronising the country for satellite services would be rest assured that their investment would be secure and safe,” the Minister explained.
He said for this reason, the Federal Government is already making effort to ensure that the country get Foriegn Financiers to assist with loans to build the second and possibly the third satellite in-orbit so as to have enough capacity to boast the entire world inn regard to satellite information.