NIGCOMSAT eyes N8bn revenue through broadband expansion

The Nigerian Communications Satellite Ltd. (NIGCOMSAT) says it is targeting N8 billion in revenue within the next three years by expanding its broadband services.

Jane Egerton-Idehen, NIGCOMSAT Managing Director, speaking at a stakeholder roundtable in Lagos on Friday, said only seven per cent of the company’s broadband capacity is currently utilised.

“We know broadband has greater value and wider use cases, from connecting local government offices to supporting education, defence, healthcare, and even fintech. The challenge is that we cannot do it alone,” she said.

Despite broadband penetration in Nigeria rising from 35 percent in 2023 to 75 percent, NIGCOMSAT’s capacity remains mostly idle.

Egerton-Idehen cited successes such as providing internet to naval ships and connecting 45 local government secretariats in two months under “Project 774.”

“Our role is to provide the service backbone and support partners to take it to the market. We are not set up to compete directly with consumer operators because we don’t have engineers in every state,” she explained.

Stakeholders, however, cautioned that NIGCOMSAT is still seen as a bureaucracy, while foreign operators like Starlink are gaining ground.

They urged government policies to encourage agencies to use NIGCOMSAT services.

Egerton-Idehen assured partners that the company would provide technical support, co-branded marketing, and flexible models.

“This is the next chapter for NIGCOMSAT. We want to build it with you, our partners, because we cannot do it alone.”