FG budgets N2.6bn for NigComSat-1R
Nigeria is to spend additional N2.57 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 N5.1 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 N104.7 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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