FG Budgets N2.6bn For Nigcomsat-1R

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FG Budgets N2.6bn For Nigcomsat-1R
FG Budgets N2.6bn For Nigcomsat-1R

Nigeria is to spend additional N 2.57 billion for maintenance, upgrade and insurance of NigComSat – 1R, her communication satellite, this year .

The expenditure represents 50 per cent of the total funds allocated to the Nigerian Communications Satellite ( NIGCOMSAT) Limited , government ’s company managing the satellite.

According to the budget document , NIGCOMSAT is to spend a total of N 5 .1 billion this year , out of which 2 .58 billion goes into recurrent spending and the other into capital expenditure on the satellite’s operations .

Breakdown of the allocations showed that NIGCOMSAT is to spend 579 .9 million on insurance and upgrade of the satellite, while N 104 .7 million would be spent on its operation system .

Another N713 million is to be paid on turnaround maintenance of the satellite for this year . In addition , N181 . 9 million is to be expended on the satellite’s Direct – to- Home ( DTH ) platform , among others .

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