The Nigerian Communications Satellite Ltd. (NIGCOMSAT) has announced plans to generate N8 billion in revenue within the next three years by expanding its broadband services nationwide. Managing Director of NIGCOMSAT, Mrs. Jane Egerton-Idehen, disclosed this at a stakeholder roundtable in Lagos on Friday, noting that although broadband remains the company’s most profitable service, only seven per cent of its capacity is currently being utilised, leaving a staggering 93 per cent idle. She stressed that broadband has greater value and wider use cases across sectors such as education, defence, healthcare, fintech, and government operations.
Egerton-Idehen revealed that despite Nigeria’s broadband penetration rising from 35 per cent in 2023 to 75 per cent, NIGCOMSAT’s capacity remains largely underutilised. She cited special projects that have demonstrated the company’s capacity, including providing internet to naval ships, moving vessels, and local government secretariats in remote areas where terrestrial networks are unavailable.
Under Project 774, NIGCOMSAT connected 45 local government secretariats across eight states within two months, a feat she argued fibre cable operators could not match in terms of speed and reach.
The NIGCOMSAT boss emphasised that the organisation’s 250 staff members cannot cover the market alone, making channel partners and resellers crucial to its growth strategy. According to her, the agency’s role is to provide the service backbone, while partners take it to the market to reach schools, health centres, fintech companies, and government agencies across Nigeria and even in West Africa.
She pointed to successful government-owned enterprises such as Egypt’s NALSAT, which makes about \$150 million yearly, and Nigeria LNG in the energy sector, as proof that government companies can be both profitable and impactful.
However, stakeholders raised concerns that NIGCOMSAT’s products have struggled to gain traction, partly because the company is still viewed more as a government agency than a commercial player. They also highlighted growing competition from international providers such as Starlink, which has already captured a significant share of the Nigerian broadband market.
To address this, they recommended that the Federal Government mandate ministries, departments, and agencies to patronise NIGCOMSAT rather than foreign providers. Egerton-Idehen, however, assured partners that the agency would provide technical support, co-branded marketing, and flexible partnership models, stressing that collaboration with stakeholders is key to achieving its ambitious N8 billion revenue target.