February 24, (THEWILL) – The National Council on Privatisation (NCP) has approved the sale of NITEL/MTEL property located at No 3-5, Moloney Street, Tafawa Balewa Square, Onikan, Lagos, to the Lagos State Government.
The Council, chaired by Vice President Yemi Osinbajo, granted the approval at its second meeting for 2023, held on Tuesday, February 21, 2023.
A statement by the Bureau of Public Enterprises (BPE) on Friday, said the property was one of those listed for sale by the liquidator of NITEL/MTEL Non-Core assets at the cost of N2.5 billion.
The National Council on Privatisation (NCP) at its meeting on February 27, 2012, approved the privatisation of Nigerian Telecommunications Plc (NITEL) and Nigerian Mobile Telecommunication (MTEL) through “guided liquidation”.
Under the guided liquidation strategy, all the core assets and business undertakings of NITEL and MTEL were to be sold as single or multiple lots to a qualified bidder by the Liquidator under the general guidance of the National Council on Privatisation.
About the Author
