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New Generation Consortium Needs $4.5Bn to Rejig Nitel

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Mohammed-Adoke, attorney general and minister of Justice
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New Generation Telecommunications Consortium, the preferred bidder for the purchase of a controlling stake in Nitel/Mtel may have won the first phase of the battle for what is left of the beleaguered national carrier, but the enormous financial weight needed to rejig the carrier may prove fiercer, Nigeria CommunicationsWeek can now reveal.
In the short to medium terms, New Generations Telecom requires at least $4.5 billion to bring the first national operator to the level of competitions in the market and in the present very tough global financial market, the amount is staggering.
Apart from the $2.5 billion bid price for Nitel, the investors must source at least additional $2 billion to fast track the market re-entry of the national carrier and bring the carrier to the level of competitions like MTN, Glo, and Zain.
Nigeria CommunicationsWeek gathered that the fear is that after spending about $4.5 billion, the investors may not expect any return on investment at least in the next 10 years because the market is nearing saturation.
An official of the consortium who spoke on the condition of anonymity asked  “don’t you think we have studied the market and worked out the business module that suits the national carrier before we put our best foot forward?”
The official said the consortium is bent on breaking the jinx and myth that surround successive failed attempts to sell government stake in the now comatose Nitel.
According to him, most of the funds will be sourced offshore. “We are not looking for local financing, Minerva Group; you will recall is our main financial backer. Money is not more important as financial and technical know-how,” the official added.
Expressing readiness of the group to pay, the official, said “if the National Council on Privatization (NCP) approves, today, we will hand BPE our draft in tomorrow.”
Chigbo Anichebe, spokesman for the Bureau of Public Enterprises (BPE) confirmed that NCP, the final okaying authority is yet to sit to approve the transaction.
He told Nigeria CommunicationsWeek that when the NCP approves the sale, the preferred bidder will be given 10 days to pay 30 per cent of the $2.5 billion (amounting to some $750 million) while the remaining 70 per cent must be paid within 60 days.
Meanwhile, the preferred bidder is rumoured to have string of suitors with deep wallets as well as technical and managerial expertise eager to turn around the fortunes of the national carrier.
They are eyeing Nitel’s tremendous goodwill, frequency, Sat-3 and landed properties.
An inside source said “that way, we hope to use the avalanche of cash that will available to restart the network. The truth is that the $2.5 billion by New Generation Consortium is unnerving.”
According to the BPE, New Generation Consortium’s $2.5 billion was followed by Omen International’s $956 million. Others are Brymedia Consortium $551 million and AFZ/Spectrum consortium $375.5 million and MTN which bidded for only SAT-3 and offered $25 million.
According to the source, negotiations among the parties have been characterized by hard bargaining and shrewd exchanges.
It would be recalled that New Generation Consortium etched its name in the record books after it emerged the preferred bidder for Nitel. It was a landmark privatization deal in any developing country outside the oil and gas sector.
Nigeria CommunicationsWeek gathered that the New Generation Telecom Consortium involved is made up of GiCell, local telco, China Unicom (Europe) and Minerva. Others are Sumatra Star GT Limited, Unified Access Licencee, and BGL Private Equity Limited, a subsidiary of BGL Plc.
GiCell Wireless on the other hand is jointly owned by GIC Nigeria Limited and Usman Ahmed Gumi, proprietor of G-Cell Nigeria Limited which is a rural telephony operator.
While GIC Nigeria Limited owned two-thirds equity, Gumi owned the balance one third of GiCell.
GIC Nigeria Limited with share capitalization of N500, 000 and located on Cemetery Road, Onitsha, Anambra State is owned by Ifeanyi Chima (N400, 000 shares) and Ikeme Chima (N25, 000). They are both directors of the company with Corporate Affairs Commission (CAC) Company Registration number RC 207962.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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Dangote Refinery Debunks Speculations on IPO

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Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

Dangote Refinery Debunks Speculations on IPO

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.

“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.

The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.


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Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

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In celebration of International Women’s Day, Descasio hosted an intimate executive brunch bringing together distinguished women leaders from its customer community for a thoughtful conversation on leadership, partnership, and shared growth.

Centered around the 2026 International Women’s Day theme, “Give to Gain,” the gathering created space for accomplished women in enterprise leadership to reflect on mentorship, collaboration, and investing in people as key drivers of sustainable growth.

Held in Lagos, the event convened leaders from organizations including Honeywell Group Limited, Finchglow Travels, NGCOM, and Eroton Exploration & Production Company.

Guests were personally welcomed at the start of the gathering by Mr. Dele Nedd, CEO of Descasio; who greeted each of the women leaders and expressed his appreciation for their presence before leaving the session to allow the women lead the conversation among themselves.

The gesture reflected Descasio’s leadership culture; one where women are not only recognized, but actively supported and empowered. It also underscored the company’s belief that meaningful progress in leadership requires partnership and allyship across the organization.

Rather than a traditional panel discussion, the brunch was designed as a candid and reflective exchange among peers navigating leadership in complex industries. Throughout the conversation, participants shared perspectives shaped by experience, responsibility, and the realities of leading teams and organizations.

A recurring theme in the discussion was the role of execution and accountability in leadership. For many organizations, strategy alone is not enough; consistent delivery is what ultimately builds credibility and trust.

Reflecting on this, Josephine Adebola, Data Compliance & Process Automation Manager at Finchglow Travels, emphasized the importance of reliability in leadership and the discipline required to translate vision into results. “Get it done on time and in full.

The conversation also explored the role of curiosity and continuous learning in shaping effective leaders. In rapidly evolving industries, the ability to ask questions, remain open to new perspectives, and keep learning is often what enables leaders to grow alongside their organizations.

Sharing her perspective, Tomi Otudeko, Chief Operating Officer at Honeywell Group Limited, reflected on how curiosity has shaped her leadership journey.

“Asking questions and continuously learning have always stood me in good stead as a leader.”

She also spoke about the importance of leading with empathy and understanding the people behind the roles within organizations.

“Everyone has multiple dimensions to who they are. Leadership has taught me to see people in their totality. That awareness doesn’t make a leader weak; it makes them more effective.”

Another important theme that emerged from the conversation was authenticity in leadership. In an environment where leaders often face pressure to conform to traditional expectations, remaining true to one’s identity while continuing to evolve is essential.

For Helen James-Eziashi, General Manager at NGCOM, authenticity and curiosity remain key guiding principles. “Be yourself, keep learning, and stay curious.”

The discussion also highlighted the role of self-awareness in sustaining leadership journeys, particularly in complex and high-responsibility environments. Understanding one’s values, motivations, and support systems often becomes the anchor that allows leaders to navigate uncertainty with confidence.

Reflecting on this, Ifeanyi Onyejekwe, IT Manager at Eroton, emphasized the importance of knowing what grounds a leader.

“Know who you are and understand what supports and sustains your leadership journey.”

According to Descasio, the event reflects its broader commitment to building strong partnerships and fostering meaningful leadership conversations across its enterprise customer community.

“For us, this was about more than marking International Women’s Day,” said Umama David-Ogebe, The HR Manager at Descasio. “It was about creating a space where leaders could learn from one another and reflect on the kind of leadership that builds strong organizations. The most meaningful partnerships grow from conversations like these.”

To extend the impact of the discussion, Descasio has published “The Give to Gain Leadership Report: Insights from Women Leading Enterprise Organizations,” a curated publication capturing key reflections and leadership lessons shared during the session.

The report highlights themes including:

  • The role of curiosity and continuous learning in leadership
    • Building stronger teams through empathy and accountability
    • The importance of authenticity and self-awareness in navigating leadership journeys
    • How investing in people drives stronger partnerships and resilient organizations

The Give to Gain Leadership Report is now available for download Here.


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