When the last Nigeria's Chinese made and launched satellite failed, NigComSat, the body responsible for the project assuaged Nigerians by stating that an insurance policy covered the failed satellite and that it will be replaced at no additional cost to Nigerians? As soon as the embers of anxiety died down, NigComSat dropped this f***ing bomb - Nigerians will have to pick up the tab for a new satellite, another whopping $500million dollars?
Icheoku asks, whatever happened to the alleged insurance which covered the first satellite? This satellite "business" is a Federal government of Nigeria sanctioned scam-unlimited! Nigerians are once again being taken to the cleaners by a bunch of swindling Northern mallams, who have been milking Nigeria dry all these years since independence in 1960. Where is the National Assembly oversights committees or are they a p
arty to this mind-boggling satellite-fraud of the century? Where is the EFCC or is $500 million dollars not huge enough for their investigative searchlight? This is blue-murder and should be resisted by the national assembly. NigComSat Managing Director Ahmed Rufai (right) must be a front-man for some very greedy, fraudulent and highly placed Northern Oligarchs who are siphoning Nigeria's scarce foreign reserve, through this satellite scam, to continue to fuel their bureau du` change operations throughout Nigeria and the greater West Africa? When will enough be enough in Nigeria? When will such grand-scale criminal fraud be checked?
arty to this mind-boggling satellite-fraud of the century? Where is the EFCC or is $500 million dollars not huge enough for their investigative searchlight? This is blue-murder and should be resisted by the national assembly. NigComSat Managing Director Ahmed Rufai (right) must be a front-man for some very greedy, fraudulent and highly placed Northern Oligarchs who are siphoning Nigeria's scarce foreign reserve, through this satellite scam, to continue to fuel their bureau du` change operations throughout Nigeria and the greater West Africa? When will enough be enough in Nigeria? When will such grand-scale criminal fraud be checked?Using the same incompetent Chinese company, the same inferior satellite modules and the same Nigeria "experts" except for the only southerner Mrs Grace Ekpiwhri who has been removed from the conduit and redeployed to another ministry, is madness defined! This satellite 
business is simply to fleece Nigerians of another $500 million dollars? This is a typical example of doing the same things, the same way and expecting different result! Of the total investment of $251 million previously made by Nigeria in the other failed NigComSat 1, it was only able to recoup less than $7.5 million dollars in returns before the satellite failed leaving it with a net loss of over $244 million dollars in the red? What a "progressive" country, Nigeria really is?
business is simply to fleece Nigerians of another $500 million dollars? This is a typical example of doing the same things, the same way and expecting different result! Of the total investment of $251 million previously made by Nigeria in the other failed NigComSat 1, it was only able to recoup less than $7.5 million dollars in returns before the satellite failed leaving it with a net loss of over $244 million dollars in the red? What a "progressive" country, Nigeria really is?See our other stories on this continuing NigComSat scam, click another nigerian official scam gone awry;
Nigerian Communications Satellite (NigComsat) Managing Director, Ahmed Rufai, disclosed on Monday that the country would have to shell out $500 million to launch two satellites to replace NigComSat 1 that disintegrated less than two years after launch.
ReplyDeleteThe new satellites would be ready by 2011.
Rufai told the Senate Public Accounts Committee that China Great Wall Industrial Company (CGWIC), the same company that built NigComSat 1 at a cost of $251 million, would also build and launch the new ones.
He said NigComSat 1 was not initially built for commercial purposes but deployed for such when mobile telephony debuted in Nigeria.
Regardless, he noted, it generated N98 million and another $456,000 as revenue, out of which N45 million was remitted to the Federation Account.
The Committee wondered why the same company would be awarded another contract for NigComSat 2 and 3.
Committee Chairman, Ahmad Lawan, expressed dissatisfaction with the explanation given by the Nigeria Satellite Commission over the missing NigComSat, which cost N40 billion.
Rufai disclosed that out of the $251 million spent to launch NigComSat 1, $200 million was borrowed from the Export-Import (EXIM) Bank of China and the balance $51 million was paid from Nigeria through appropriation.
"The initial plan for NigComSat 1 was to use it for experimental purposes but the plan was changed because of the need to exploit the market provided by the telecommunications industry in Nigeria.
"The quest to launch and operate the satellite on commercial basis led to the failure to seek to launch another satellite as back-up," he added.
According to him, the lost satellite would be replaced by the Chinese company, based on the original contract.
"But the relaunch would not take place until late 2010 or early in 2011 when all arrangements would have been put in place to that effect."
Explanations on the insurance for NigComSat 1 were, however, not satisfactory to the Committee as it lamented the non-inclusion of the business and financial benefits to Nigeria.
Rufai confirmed that only the asset was insured.
He said three options were considered before the decision was taken to award the $500 million NigComSat 2 and 3 contract to the CGWIC.
The first, the government could fund it alone; second, a consortium of Nigerian banks could guarantee loan from China; or third, NigComSat could be fully privatised and source funds from anywhere.
Reps Drill MD Over Crash Of NigComSat I
ReplyDeleteBy Sule Lazarus and Otei Oham, Abuja
House of Representatives Committee on Science and Technology at its public hearing on Monday drilled the Managing Director of Nigeria Communication Satellite (NigComSat I), Ahmed Rufai, for over five hours on the crash of the project.
The committee also ordered the Minister of Science and Technology, Alhassan Bako Zaku, to appear before it in person to answer questions that border on administration and the legality or otherwise of the NigComSat's managing director.
The managing director, however, told the committee that the contractor that handled the project, China Great Wall Industries Corporation (CGWIC), has accepted to replace the crashed satellite project valued at $261 million.
He explained that the contractor was still managing the project at the time of collapse, hence it became incumbent on them to replace it based on the contractual agreement and the insurance agreement.
"The crash of the satellite is a blessing in disguise to Nigerian engineers because of the lessons that would be learnt, more so the China Great Wall Industries has offered to construct a new satellite and launch it into space at no cost," Rufai said.
He stated that the project was funded by the Nigerian government in partnership with Chinese Nexim Bank which granted a loan of $200 million translating to 80 per cent funding and then 20 per cent funds from the home government.
"The company has signed a new agreement to replace the failed satellite at no cost because the terms of contract stipulate that in the event of any crash under the one year warrantee the Nigerian government will not take responsibilities."
Director General of the Debt Management Office (DMO), Abraham Nwankwo, also told the committee that sequel to the crash the government has suspended the loan servicing
NigComSat 1 replacement ready this month –FG
ReplyDeleteBy AKOR SYLVESTER, Abuja
Federal government has said that it would sign a Memorandom of Understanding (MOU) with China Great Wall Corporation Company (CGWCC) to replace the damaged Nigeria Communications Satellite 1 (NigComSat1) in March this year.
The Chinese CGWCC was the firm that constructed NigComSat-1 which was powered down on November 10, last year due to crisis with the solar panel whose battery powers began to deplete from 42 amps to 33 and finally hitting 18 amps, necessitating its shut down.
Minister of Science and Technology, Alhassan Bako Zaku, who disclosed this at the inspection of some projects in National Space Research Development Agency (NASRDA) on Thursday in Abuja, said under the contractual agreement signed between the Chinese firm and the Federal Government, the replacement will be at no cost to the Federal Government.
The Minister also revealed that arrangement had been concluded to launch Nigeria Sat 2 in July 2009 adding: "I am pleased to inform you that the Nigeria Sat 2 is on schedule. The space craft is presently undergoing Thermo vacuum test at SSTL facilities in U.K. The Spacecraft would be ready for launch in July 2009"
Zaku, while recalling that in 2006, Nigeria signed the contract for the design, building and launch of a mini satellite with Surrey Satellite Technology Limited (SSTL), Guildford Surrey UK which include the establishment of an X, S band ground station, in Abuja, said that the new ground station building and the installed 7.3 metre antenna would be commissioned next month (April).
The Minister stressed that the Nigeria Sat 2 would continue to receive attention from the government because of its critical role in national security particularly in the monitoring of existing oil installation and other infrastructure.
According to him the 2.5 m resolution of the Nigersat-2 is designed to help upgrade the present state of most of our cities and other aspect of land reforms of this administration and more importantly its expected role in the development of agriculture in the country and other environmental issue.
Commending on the ongoing project of the Assembly and Integrating Test Centre (AIT) Bako Zaku stressed that when completed and equipped will provide all the required facilities for our scientists/engineers to carry out research towards the building of our satellite here in Nigeria.
"The facility will be capable of handling satellite of up to one tonne. Nigeria will be capable of building satellite for other countries in future most especially other African countries and also competing with other satellite manufacturers all over the world".
Other projects inspected at the Space Agency include Geo-spatial data bank and Library building which is expected to provide a standard information management system designed to stimulate industrial development, commerce, foreign investment and diversified economy.