AMCON Positions NTEL for Strategic Growth as Divestment Process Begins

AMCON Positions NTEL for Strategic Growth as Divestment Process Begins

Eromosele Abiodun

The Asset Management Corporation of Nigeria (AMCON), has reaffirmed its commitment to unlocking the full value of Nigeria’s legacy telecommunications assets, describing the ongoing transformation of NTEL/NATCOM as one of its most promising asset recovery and investment success stories.

Managing Director and Chief Executive Officer of AMCON, Mr. Gbenga Alade, disclosed this during an interactive session with senior media executives in Lagos at the weekend. He said that following the successful divestment of the Ibadan Electricity Distribution Company (IBEDC), the Corporation has commenced the process of divesting its interests in the telecommunications sector through a transparent and structured programme designed to attract credible strategic investors.

According to Alade, NTEL, the successor company to the former Nigerian Telecommunications Limited (NITEL), has embarked on a comprehensive three-pronged transformation strategy aimed at repositioning the company as an attractive investment destination for world-class investors.