Nigeria’s plan to sell a controlling stake in ntel, formerly Nigerian Telecommunications Limited (NITEL), is shaping up to be more than just another state divestment. The transaction will test whether investors are willing to back a turnaround built around digital infrastructure rather than mobile subscribers, while navigating a tougher regulatory approval process for telecom acquisitions.
The Asset Management Corporation of Nigeria (AMCON), the state-owned agency that took full management control of ntel in 2024, announced on Monday that it has begun divesting its 55% stake in the company.
The eventual buyer will inherit one of West Africa’s largest portfolios of telecom spectrum, fibre infrastructure and legacy real estate, alongside the capital-intensive task of transforming the successor to the former NITEL into a modern digital infrastructure company.
The process remains in its early stages. No investors have emerged yet, AMCON spokesperson Jude Nwauzor said, adding that the agency is still securing the regulatory approvals required before a formal sale process can advance.
“We are still going through the regulatory stage, where we get all the necessary approvals,” he told TechCabal in an interview.
