NatCom Development and Investment Ltd (trading as Ntel), the company that acquired Nigeria’s defunct national carrier NITEL, is preparing a commercial relaunch in January 2026, marking the comeback of one of Nigeria’s telecom giants.
Ahead of the launch, ntel has announced a new board of directors that will work under the continued chairmanship of Gen. T.Y. Danjuma.
In a statement released on Tuesday, October 21, the company said the new board includes Adeleke Alex-Adedipe, Ayodeji Joshua Richards, Maryam Mutallab, Olaide Aremu, and Soji Maurice-Diya, who will serve as Managing Director and Chief Executive Officer.
Ntel said: “The change reflects ntel’s renewed focus on serving the Nigerian telecommunications ecosystem at large, reenergizing finances and unlocking value from its existing infrastructure. “Under its new leadership, ntel is implementing a turnaround plan that emphasizes cash-flow stability, monetization of its nationwide assets, and a swift return to commercial service through broadband and roaming services. In a recent overview of the strategy, the company noted it is “monetizing its nationwide portfolio of telecommunication assets and real estate” as it seeks new revenue streams in the short term.”
The board in a joint statement described the new phase as a “defining moment” in Ntel’s recovery journey. The statement said: “We are renergised by the opportunities ahead and look forward to unlocking greater value from our infrastructure while shaping a sustainable, future-focused business. “It should be noted that bringing seasoned professionals onto the board strengthens governance and accelerates execution of the turnaround strategy. The new board members each bring complementary expertise aligned with Ntel’s priorities”
The leadership change comes after Ntel secured fresh, undisclosed funding facilitated by the Asset Management Corporation of Nigeria (AMCON), which currently holds a 55% stake in the company. AMCON’s ownership traces back to its 2015 intervention to rescue the telecom operator, then struggling under NATCOM, the consortium that acquired the defunct NITEL and MTel.
The capital injection will support network rebuilding and the restoration of data and voice services following Ntel’s bankruptcy in 2024. As part of its revival plan, Ntel is adopting a hybrid model that combines fixed wireless broadband and mobile virtual network operations. With over 3,500 kilometres of fibre network and 600 base stations nationwide, ntel’s return could mark Nigeria’s first successful telecom comeback story.
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