NigComSat eyes $3bn in annual revenue with expanded services

Nigeria Communication Satellite Limited (NigComSat) is setting its sights on generating an average of $3 billion in annual revenue as it broadens its services and explores new streams of income, according to Director-General Jane Egerton-Idehen.

Speaking at the July edition of the DevsInGovernment MDA workshop in Abuja, Egerton-Idehen noted that the agency is now positioning itself for aggressive growth through innovation and product diversification.

“We are projecting to average about three billion dollars in annual revenue,” she said. “If we continue to expand our ideas and extend the lifespan of our products, we can unlock even more value and solve bigger problems.”

The event, themed “Driving Operational Excellence through Technology at NigComSat,” was supported by Galaxy Backbone and the World Bank. It brought together government technologists and digital experts focused on strengthening Nigeria’s digital infrastructure.

Egerton-Idehen highlighted broadcasting as just one of several revenue-generating arms of NigComSat, stressing that there are untapped opportunities beyond traditional services that could double or triple current income levels.

Also speaking at the event, NigComSat’s Executive Director of Technical Services, Abiodun Attah, said the agency had started to make strategic moves to serve enterprise markets and expand operations beyond the public sector.

“We’ve started working with Mobile Network Operators to carry 2G, 3G, and 4G traffic into rural communities without connectivity,” Attah said. “NigComSat is no longer limiting itself to government contracts. We’re now fully engaging in the private sector to grow our impact and revenue.”

The leadership says ongoing efforts to create awareness about NigComSat’s service offerings will be crucial in achieving these ambitious financial targets and delivering broader digital solutions across the country.