Former President Olusegun Obasanjo has disclosed how Nigeria nearly missed out on a $280 million telecommunications deal under the leadership of former military Head of State, Gen. Abdulsalami Abubakar (retd).
Obasanjo revealed that when the country was transitioning from landline telephones to mobile phones, some major telecommunications companies approached Nigeria to provide mobile services. However, Abubakar had planned to award the contract to his friends for just $3 million.
Obasanjo shared this story during the launch of a book titled *The Catalyst: Nigerian ICT Evolution through a Journalist’s Lens*, authored by Dayo Oketola, a former Editor of The PUNCH newspaper, in Lagos.
READ ALSO: Obasanjo Visits Gov. Obaseki, Tasks Nigeria’s Leaders On Selflessness
“The story of telecommunications, particularly mobile telecommunication, is a very interesting one. Before mobile telecommunication, we had spent a lot of money inviting companies from America, France, and Britain, but we didn’t get more than 500,000 lines,” Obasanjo said. “When mobile telecommunications came in, my predecessor was about to give it away to their friend for $3 million. Instead, we decided to auction it, and three companies paid $280 million each for the licenses.”
Obasanjo explained that the decision to auction the licenses not only generated significant revenue for the country but also introduced competition into the telecommunications sector. The first three telecom providers—MTN, Glo, and Econet (now Airtel)—entered the market, with MTN having the widest spread.
Later, when Etisalat (now 9mobile) entered the market, Obasanjo shared that they were required to pay $450 million for their license. He emphasized that Nigeria’s success in attracting these investments showed that the country has the potential to attract funds for development, as long as it creates a conducive environment.
READ ALSO: Obasanjo: Many Nigerian Leaders Belong In Jail, Questions Leadership Character
“The money to develop Nigeria is out there, but that money will not come in unless we create a conducive atmosphere for it. What we did in the good days can still be done today if we are honest and show character,” Obasanjo said.
The book launch was attended by notable figures, including the Minister of Information and National Orientation, Alhaji Mohammed Idris, represented by Lagos State Commissioner for Information, Mr. Gbenga Omotoso; former Governor of Rivers State, Rotimi Amaechi; and the President of the Nigerian Guild of Editors, Mr. Eze Anaba, who praised Oketola for his contribution to journalism and truth-telling.
Anaba commended Oketola for balancing the demands of his editorial work with writing the book, which he said provides valuable insights into Nigeria’s telecommunications journey.