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Nairaland Forum / Nairaland / General / Business / Finally, NITEL Gets New Buyer. (16495 Views)
FG Approves Sale Of NITEL/MTEL For $252m / Nitel Gets Third Ceo In Seven Months / NITEL Privatised: Bought By Transcorp (2) (3) (4)
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Re: Finally, NITEL Gets New Buyer. by chamboy(m): 11:01am On Dec 04, 2014 |
Bawss1:u must b Sick man, Mention any Advanced Countries with All sectors Privatise... even to their TV n Cable it's all Government Sector... you here claiming rubbish fact... |
Re: Finally, NITEL Gets New Buyer. by Awaja(m): 11:03am On Dec 04, 2014 |
Now they are selling everything, which one are they acquiring? why can't this administration proud itself of been d regime that revived our dear M-tel? In a country where its communication industry is booming and d govt has no way of ripping this immense benefits ,selling everything with no replacement is a sign of depreciation:: |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 11:03am On Dec 04, 2014 |
It's a shame, the quality of discussions has truly plummeted on this forum. One hardly finds comments that are insightful or enlightening, even the criticism one sees here are hollow and pointless. Where have all the bright minds gone? 1 Like |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 11:06am On Dec 04, 2014 |
chamboy: Is there any need to get abusive? As to your question: Unites States of America . That's one "advanced" country where most of all its sectors are in private hands. |
Re: Finally, NITEL Gets New Buyer. by GlorifiedTunde(m): 11:06am On Dec 04, 2014 |
I will keep saying this, I do not know why everything must be privatized. It really pains me. I know how the government can make NITEL work. The problem NITEL had was just one - Corruption! But total privatization will not benefit us as much. Because of their inability to think about how to make things work, they sell it outrightly. Bunch of Lazy, Corrupt and Myopic leaders. Thieves! That's what they all are. FYI, if you don't know... Nigeria needs NITEL as a government outfit because it determines where the telecoms sector will get to. The likes of MTN, GLO, ETISALAT, AIRTEL and others cannot adequately cater for the increasing demands of the users and the development process Nigeria is aiming at. The national security needs a telecoms outfit that will be owned by the government and security agencies. Take a look at the CIA, MI6, MI7, KGB etc, they all thrive on a communication system that is very secure. We cannot even launch a satellite that will be up and running for at least ten years... There's too much involved in this, Nigeria can't get a database of Nigerians filled with forensic identifications, street, shop and other public cameras, etc working without a government outfit like NITEL. I'm just so MAD at this USELESS, BLIND GOVERNMENT!!! |
Re: Finally, NITEL Gets New Buyer. by chamboy(m): 11:08am On Dec 04, 2014 |
Bawss1:mention the Sectors na.. Even Walmart supermarket has government shares in it |
Re: Finally, NITEL Gets New Buyer. by Nobody: 11:13am On Dec 04, 2014 |
yurme:oh tnx. |
Re: Finally, NITEL Gets New Buyer. by Nobody: 11:13am On Dec 04, 2014 |
yurme:oh tnx |
Re: Finally, NITEL Gets New Buyer. by Emmanueledu(m): 11:17am On Dec 04, 2014 |
This is a welcome development! Privatization it the only thing that can boost infrastructural development in Nigeria!NEPA for instance has seen some improvements....#GEJ on the right course# |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 11:20am On Dec 04, 2014 |
GlorifiedTunde: It is the in thing today to talk down on every government initiative but wouldn't it be better if such talk is backed by some measure of reason? What has the CIA or MI6 got to do here? Are those organisations offering commercial telecommunication services to the citizens of their respective countries? If as you say that the present telcos are unable to meet the needs of the country wouldn't the right thing be to bring in more companies in the sector? Isn't the privatization of NITEL aimed at doing just that? Where is the sense in what you are saying? |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 11:24am On Dec 04, 2014 |
chamboy: LOL! Walmart has government shares? Abeg tell us which government. And how does this help your argument against privatization? |
Re: Finally, NITEL Gets New Buyer. by chamboy(m): 11:29am On Dec 04, 2014 |
Bawss1:It's not part of d argument just an example of Government Control . I meant Government has shares in Walmart |
Re: Finally, NITEL Gets New Buyer. by chamboy(m): 11:54am On Dec 04, 2014 |
Lapses of Privatisation 1. Short-Termism of Firms. 2. Fragmentation of industries. 3. Problem of regulating private monopolies 4. Public Interest 5. Employment 6. Natural Monopoly 7. Government loses out on potential dividends. 8. abandoning of social obligations, 9. Private firms may also provide inferior services because they are driven by their financial objectives 10. Unhealthy Competition can cause lose of asset |
Re: Finally, NITEL Gets New Buyer. by SuperModerator: 12:23pm On Dec 04, 2014 |
Re: Finally, NITEL Gets New Buyer. by SuperModerator: 12:30pm On Dec 04, 2014 |
Awaja: |
Re: Finally, NITEL Gets New Buyer. by GlorifiedTunde(m): 12:39pm On Dec 04, 2014 |
Bawss1: The sense in what i'm saying is that: 1. the national security of any nation relies on a network, that network isn't owned by any private Telco - its national security! 2. The At&T is the US's owned private Telco, when it was purchased by Bell corporation, not everything aspect was + the aspect that has to do with national security is handled specially by the government 3. Its not about bringing in more companies - NITEL doesn't have to provide phone services, it should better serve as Backbone for all existing Telcos, and be like the grid where all information inbound and outbound passes. 4. When you privatize everything in a sector without the government having its own, regulation and QoS is difficult. For instance the Nigerian Aviation. 5. We cannot have all the things we see in the movies and clamour for - Forensic database, Effective National Navigation System, etc All I'm saying is that because something doesn't work initially, doesn't mean you should sell it off. |
Re: Finally, NITEL Gets New Buyer. by asudan: 12:40pm On Dec 04, 2014 |
ozor1:no |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 12:51pm On Dec 04, 2014 |
asudan: How do you know? |
Re: Finally, NITEL Gets New Buyer. by Bimpe29: 12:57pm On Dec 04, 2014 |
TheRealMrStan:Hope this will have good multiple effects on nigerian economy. |
Re: Finally, NITEL Gets New Buyer. by coolsegun2002: 1:11pm On Dec 04, 2014 |
I'm shaa waiting for that telecom company dat will give naija people 200naira per gig...1naira for 10minuites.....anything more dan dat is exploitation.... |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 1:35pm On Dec 04, 2014 |
Despite the number of comments against privatization of NITEL here nobody has made a compelling case why NITEL should continue to be owned and run by the government. I think people here like to criticize just for the heck of it. Pasting the general lapses of privatization from some textbook doesn't help as it ignores the particular conditions surrounding this particular organization. We all know that NITEL since inception has been run by the government amidst a culture of waste and underperformance yet people here are saying the same government should continue. Personally I'm with the school of thought that agrees that government has no business in business, it should only concern itself with making the playing field fair for all private hands to operate while protecting the interest of citizens. Privatizing NITEL is an over due but welcome development. If done properly, it will increase the competition in the telecoms sector and offer Nigerians more options and at the same time help in unsaddling govt from unnecessary responsibilities. For those who keep saying that other countries don't privatize telcos, I have to ask; who owns Verizon, Orange, Rogers heck even British Telecoms? There are dozens of telcos around and they are largely private companies. One will hardly find a leading telco that is owned and run by a govt these days. 1 Like |
Re: Finally, NITEL Gets New Buyer. by Bawss1(m): 1:43pm On Dec 04, 2014 |
GlorifiedTunde: AT&T is a private company. Check your facts. What do you mean NITEL should serve as a backbone? What happens when other coys decide to build their own gateways and how does this help Nigeria as a whole? Govt has an excellent history of mismanagement of organizations like NITEL yet you want them to carry on. Well done. 1 Like |
Re: Finally, NITEL Gets New Buyer. by Abiolainfo: 2:08pm On Dec 04, 2014 |
TheRealMrStan: Why is GEJ selling everything I will be out of Nigeria b4 this man go sell all hin citizen join 1 Like |
Re: Finally, NITEL Gets New Buyer. by GlorifiedTunde(m): 2:36pm On Dec 04, 2014 |
Bawss1: Sorry about that. At&t purchased an arm of Bell. Yes its private. But I know what I'm saying. |
Re: Finally, NITEL Gets New Buyer. by emmyz09(m): 3:57pm On Dec 04, 2014 |
slimmy05:ENOUGH MONEY FOR ELECTIONS 2015 GO BADT |
Re: Finally, NITEL Gets New Buyer. by manot: 6:25pm On Dec 04, 2014 |
YungwizzzyPt7:yeye dey worry u |
Re: Finally, NITEL Gets New Buyer. by manot: 6:32pm On Dec 04, 2014 |
[quote author=chamboy post=28583169] u must b Sick man, Mention any Advanced Countries with All sectors Privatise... even to their TV n Cable it's don't argue nonsense there nitel and d steel Industries have remained moribound because of corruption, y not sell them to private sectors to manage them well all Government Sector... you here claiming rubbish fact... [/quote] |
Re: Finally, NITEL Gets New Buyer. by manot: 6:46pm On Dec 04, 2014 |
because of corruption nitel and other firms have remained moribound. it is better dey sell them to people who can manage them properly and also use it to employ people |
Re: Finally, NITEL Gets New Buyer. by chamboy(m): 6:53pm On Dec 04, 2014 |
[url][/url] Bawss1: |
Re: Finally, NITEL Gets New Buyer. by tit(f): 8:06pm On Dec 04, 2014 |
GlorifiedTunde: att is private. You do not know what you are saying. GlorifiedTunde: The companies you listed abov want to make money. If there is a kobo to be made in Gwazo you can bet they will go there. If nobody can make money providing the service you want, why should taxpayers subsidize such luxury? GlorifiedTunde: Through the government supervisor, the NCC, all government agencies can monitor telecomms traffic. the government does not have to own any backbone (or backbones since each service provider may have an independent backbone). |
Re: Finally, NITEL Gets New Buyer. by tit(f): 8:16pm On Dec 04, 2014 |
frodobee: Thanks my guy. After reading about OML 215(?) sold for $25M, i was surprised to see a tag of $252M for Nitel. Asset striping came to my mind. I saw the real estate investing companies in the consortium but your post really made it real for me. And this tells you how inefficient government can be. So none of our overpaid-file-pushing-potbellied-gray-haired bureaucrats could propose making more than $252M by selling Nitels real estate individually. It is better we eliminate government entirely. They are not even good at security. See the way Boko haram is handling our army and police. 1 Like |
Re: Finally, NITEL Gets New Buyer. by frodobee: 9:40pm On Dec 04, 2014 |
tit: Babe, chop knuckle as you don de call me guy lol. Anyways I am glad someone is seeing things the way I am. Sure, govt, esp. the Nigerian type is pretty much useless and I wonder how on eart they reason or maybe they are actually the ones buying these assets through pseudo/proxy companies. Time will tell. Have a good night rest friend. |
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