Home » » Spektor's blog

TO SAVE MY COUNTRY, I NEED TO BORROW THE SUM OF $200 MILLION

Spektor – Tue, 2007 – 05 – 01 10:13

Nigeria is a country best known for its email marketing scams. You know, the ones written in all caps and started off something like...

"Dear Friend,
It is with heartfelt hope that I write to seek your co-operation and assistance in the context stated below, I am Barrister Fenner Mark Elvis, the personal Attorney to the late Mr. Nobert Spagele. I got your contact through the help of my brother-in-law that works with the American Chambers of Commerce and Tourism, though I did not disclose to him my humble intention for an honest foreigner like you, having noted the confidence reposed on your person by the sponsor of the recommendation...

Well, according to SpaceMart, last January a Chinese Bank fell for a similar line and, at present, is financing the construction of Nigeria's first communications satellite, NigComSat, which is now set to launch before the end of this month.

While this is not Nigeria's first satellite, a title held, according to allAfrica.com, NigeriaSat-1, launched in 2003 to take photos of Nigeria's environs, it does mark the first time a Sub-Saharan African country has launched and retained control of their own communications satellite.

Recently "replaced" Nigerian President General Olusegun Obasanjo said that the satellite is a part of his country's commitment to development:

"This commitment has informed our embarking on programmes and initiatives that would effectively address the challenges of poverty, food security, infrastructural development, sustainable energy, affordable health and housing, and protection from natural and man-induced disasters.

Space technology is key to the realization of the Millennium Development Goals (MDGs) and the objectives of our holistic reform agenda as encapsulated in the NEEDS document. It guarantees the availability and speedy access to real-team data and geo-partial information, as well as the availability of relevant infrastructure and backbone for information communication"

The Chinese, who are financing, building, and launching the project, are also proud of the effort, the first step in a move to develop a satellite design and construction export business. The launch will take place at the Jiuquan Satellite Launch Center, which has launched some 30 satellite since 1990, 24 of which were commercial launches for overseas clients.

 

The satellite itself is being constructed by China Great Wall Industry Corp., based on China's latest model of satellite platform, DFH No. 4, and will feature 28 transponders, including 4 C band, 18 Ku band, 4 Ka band and 2 L bands. The whole thing weighs somewhere around 5000 kg and has an anticipated life-span of 15 years.

Score: 8.0, votes: 1
Technorati Tags:
Business Network – Communications – Cool Stuff – Front Page – Satellites – Space Business
del.icio.us del.icio.us – Digg Digg – fark fark – Slashdot Slashdot

Comments

Nigerian satellite will hit break-even in 6 years

Via Nigerian newspaper This Day:

Nigeria Targets $70million Annual Revenue from NIGCOMSAT-1

From Oke Epia in Abuja, 05.08.2007

Ahead of the official launch of Nigeria’s first communication satellite, it has been revealed that the country stands to generate an annual revenue of about 70 million US Dollars from the direct sales of slots.

Also, the country will be saved some 100 million dollars spent annually on information traffic via other satellites while targeting to secure 10 percent in the short term, of the about 660million US Dollars spent by African countries on the provision of communication traffic outside the continent thereby curbing capital flight.

Making these disclosures yesterday at a press briefing in Abuja, Managing Director of NIGCOMSAT Ltd, Engr. Ahmed Rufai, said a conservative 56 percent Return on Investment (ROI) rate has been targeted when the satellite is fully subscribed.

He said a period of not later than six years will see the company breaking even on investment, explaining however, that it would be difficult to put a figure on the total amount spent to bring the project on stream.

Rufai stated that it is estimated that revenue generation from NIGCOMSAT-1 would be more than what is generated from oil by 2010 as “Nigeria would have fully plugged into the global knowledge-based revolution opening a new dawn of digital opportunity for Africa.”

The MD said as part of the benefits to Nigerians, NIGCOMSAT will delve into the provision of end-user services in rural telephony which will bring call rates to as low as 10 naira per minute when the company secures the appropriate license from the Nigerian Telecommunications Commission (NCC).

Rocco Fanucci – Tue, 2007 – 05 – 08 12:30