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Nigerian, Canadian firms in N7.2b telecoms infrastructure deal

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Nigerian firm, Pan African Towers (PAT) Limited, has entered into a N7.2 billion ($20 million) telecoms infrastructure investments deal with Canadian firm, Watt Renewable Corporation.

Under the terms, Watt Renewable will provide alternative energy solutions like solar and other renewable to all towers owned and managed by PAT in Nigeria, to help the latter reduce exposure by as much as 50 per cent.At the signing ceremony in Lagos, at the weekend, the Chief Executive Officer of PAT, Wole Abu, told journalists the deal is significant, because “it’s a milestone in our journey of innovation, service delivery, and pushing Nigeria to the broadband target. This is at the forefront of the Nigerian Communications Commission (NCC’s) agenda for setting up Infrastructure Company.”

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According to him, the deal will impact greatly and positively on the quality of service both voice, and data in the country, and cited erratic power supply situation as one of the major challenges confronting telecoms operators in Nigeria, which appears not to be improving. “And this is taking a huge chunk of money from the operators. So, there is a need to act fast before we have issues. PAT and Watt Renewable Corporation deal will gladly address some of these lapses,” he added.

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