- Abdulsalami Abubakar's initial plan to award a $3 million telecom contract could have cost Nigeria $280 million, according to former Nigerian president and head of state, Olusegun Obasanjo.
- Obasanjo advocated for an auction system, resulting in a competitive bidding process that led to the significant sale
- The shift to mobile technology transformed telecommunications in Nigeria, with major players like MTN and Glo emerging from the bidding process
Former President Olusegun Obasanjo has revealed how the former military Head of State, Gen. Abdulsalami Abubakar (retd), almost denied Nigeria a $280 million telecommunications deal during the country’s transition to mobile technology.
Speaking at the launch of a book titled The Catalyst: Nigerian ICT Evolution through a Journalist’s Lens in Lagos on Tuesday, September 18, Obasanjo recounted how Abubakar intended to award the contract to associates for just $3 million.
Obasanjo emphasised the importance of creating a conducive environment for investments, stating, “The money to develop Nigeria is out there, but that money will not come in unless we create a conducive atmosphere for that money to come in.”
At the event, Obasanjo reflected on Nigeria's telecommunications history, noting that before the advent of mobile phones, the country struggled to provide adequate landline services.
“We had spent a lot of money, but we did not get more than 500,000 lines. People had to queue at telephone kiosks,” he recalled
By auctioning the telecom contract, Nigeria attracted three major companies, leading to a competitive market. Obasanjo revealed that the subsequent auction for Etisalat (now Airtel) fetched $450 million, further boosting government revenue.
Also speaking at the launch, the President of the Nigerian Guild of Editors, Mr. Eze Anaba, commended the author, Dayo Oketola, for his contributions to journalism and the insights captured in his book.
Notable dignitaries at the event included Minister of Information and National Orientation Alhaji Mohammed Idris, former Governor of Rivers State Rotimi Amaechi, and other prominent figures in the media and politics.
Full List: Tinubu, Obasanjo, Rawlings, other presidents who have chaired ECOWAS since inception
Meanwhile, TheRadar earlier reported that Bola Ahmed Tinubu, the president of Nigeria, was recently re-elected as the chairman of the Economic Community of West African States (ECOWAS) on Sunday, July 7, 2024, by the ECOWAS’ Authority of Heads of State and Government. He had previously emerged as the chairman of ECOWAS on July 9, 2023, before being re-elected.
This was not the first time a Nigerian leader would emerge as the chairman of ECOWAS; others, such as Olusegun Obasanjo, Muhammadu Buhari and Yakubu Gowon, had also assumed the office since its inception in 1975.
