Nigeria’s pioneer national operator, ntel (formerly NITEL), is putting the final touches to the revival of its telecoms business, targeting a Q1 2026 market bounceback following the injection of ₦30.72 billion to drive the effort, Technology Times can exclusively report.

The pre-GSM era market leader, with full complements of a wireline (NITEL) and mobile business (Mtel), fell upon hard times and slumped into market dormancy after the privatisation of the first telecoms company in Nigeria.

The Asset Management Corporation of Nigeria (AMCON), which was created in 2010 to stabilise the banking sector after a wave of toxic debts, is understood to be driving a fresh commercial comeback of ntel after the takeover from NATCOM Development & Investment Ltd that bought the telecoms company for $252.25 million in 2015.

Technology Times can exclusively confirm that AMCON is investing an initial ₦30.72 billion ($20 million) to drive a phased market plan of ntel following its market dormancy. A target of Q1 2026 has been set, with focus on driving the new business as an asset-light operator and key player in the infrastructure space.

Under the ntel rescue plan, AMCON concluded in May the appointment of Soji Maurice-Diya, a former CEO of American Tower Nigeria (ATC), to lead the new management team, succeeding Adrian Wood, a former MTN Nigeria CEO.

Technology Times checks further reveal that the comeback ntel, which holds a Unified Access Service licence from the Nigerian Communications Commission (NCC), will also be considering a telecoms business model that leverages the prevailing infrastructure-sharing opportunities to be cost-efficient, and possibly piggybacking on incumbent mobile network operators as a Mobile Virtual Network Operator (MVNO).

Technology Times can exclusively confirm that AMCON is investing an initial ₦30.72 billion ($20 million) to drive a phased market plan of ntel following its market dormancy. A target of Q1 2026 has been set, with focus on driving the new business as an asset-light operator and key player in the infrastructure space.

Inside the ntel revival plan

People conversant with developments at ntel explain that this “asset-light approach” is being considered by the architects of the telecoms market comeback after an initial market assessment showed that the business would require about ₦7.68 trillion ($5 billion) to compete with incumbent MNOs like MTN Nigeria, Airtel Nigeria, Glo, and T2 (formerly 9mobile) that collectively accounted for 171,531,223 phone lines at mid-year 2025.

The ntel plan to remodel the business as an MVNO follows NCC’s licensing of over 40 MVNOs in the country, with the new entrants expected to offer mobile services to consumers without owning any wireless network infrastructure or spectrum. MVNOs lease capacity—such as radio access—from existing MNOs, then market their own branded data, voice, and messaging services. In essence, an MVNO handles customer-facing elements like billing, marketing, and service design, while relying entirely on a partner operator’s network for actual service delivery.

ntel business planners see a pathway in Nigeria’s emerging MVNO ecosystem because NCC has outlined market opportunities for the new entrants to provide differentiated offerings tailored to niche segments—such as youth-focused data bundles, digital-first services for finance or health, or affordable prepaid products for rural markets.

By capitalising on target-specific branding and innovative service packaging, MVNOs typically drive competition, encourage diversity in telecoms offerings, and spur digital inclusion. Hence, ntel is being remodelled to focus on the youth segment and fintech services, people familiar with the business plans of the telco tell Technology Times.

Despite its setbacks, ntel retains valuable assets that could shape its revival. These include spectrum holdings, fibre infrastructure inherited from NITEL, and landing rights on international submarine cables.

According to telecoms analysts, in an era where data is king, these assets can underpin a broadband-first strategy. If positioned correctly, ntel could become a strategic partner in bridging Nigeria’s digital divide, they say.

Maurice-Diya, the new ntel CEO, brings over two decades of business leadership experience to the telecoms business after serving as CEO of American Tower Nigeria (ATC), where he had previously been Chief Operating Officer and Commercial Director. His knowledge at ATC, where he was credited with driving growth, strengthening operational performance, and expanding infrastructure offerings, will be critical to his understanding of the telecoms infrastructure landscape in Nigeria. Prior to ATC, he held senior roles at Etisalat, ExxonMobil, IBM, and EY LLP, where he demonstrated an ability to deliver value through data-driven strategy and high-impact execution, according to his biodata. In addition, as a co-founder of Hash App, he demonstrated highly entrepreneurial instincts and abilities to scale and develop start-ups.

Maurice-Diya and his team will be piloting the tough road of rescuing the distressed ntel after AMCON stepped in to act as a financial stabiliser, ensuring that strategic national assets in telecoms and other sectors are preserved while working to recover value from its former owners.

The ntel plan to remodel the business as an MVNO follows NCC’s licensing of over 40 MVNOs in the country, with the new entrants expected to offer mobile services to consumers without owning any wireless network infrastructure or spectrum. MVNOs lease capacity—such as radio access—from existing MNOs, then market their own branded data, voice, and messaging services. In essence, an MVNO handles customer-facing elements like billing, marketing, and service design, while relying entirely on a partner operator’s network for actual service delivery.

From NITEL to ntel:

The chequered journey of Nigeria’s pioneer national carrier Nigeria’s telecommunications landscape is a tale of disruption, innovation, and survival. At the heart of this story lies the rise and fall of Nigerian Telecommunications Limited (NITEL) and its mobile subsidiary, Mtel, once the pride of the nation, and the birth of ntel, a company that emerged from the state-owned enterprise.

Before its sale, at its pre-GSM era peak in 2000, NITEL was the government-owned monopoly that held a subscriber base of about 497,000, while its mobile subsidiary had a subscriber base of 30,000. Private Telephone Operators like Multilinks, Intercellular and others accounted for about 40,000, bringing NITEL and Mtel’s combined subscriptions to over 95% of Nigeria’s telecoms market of that era.

For decades, NITEL symbolised Nigeria’s hope of building a robust communications backbone. The company controlled fixed-line telephony, ran Nigeria’s earliest mobile operations, and held strategic assets that connected the nation to the global communications grid. Yet, by the early 2000s, inefficiencies, poor management, and mounting debt had left NITEL on the brink of collapse.

After multiple failed attempts to privatise the company through “Strategic Core Investor” and “Negotiated Sale” approaches, the Federal Government in 2012 adopted a new approach—the “guided liquidation strategy.”

The logic was simple: NITEL and Mtel were drowning under over ₦300 billion in liabilities, making them unattractive to investors. A guided liquidation, approved by the National Council on Privatisation (NCP), would allow the sale of core assets to a qualified bidder, under the supervision of the Bureau of Public Enterprises (BPE) and a court-appointed liquidator.

The birth of ntel In December 2014, after years of policy deadlock, NatCom Development & Investment Limited (NatCom), led by Tunde Ayeni, former chairman of Skye Bank Plc (now Polaris Bank), emerged as the preferred bidder for the assets of NITEL and Mtel. The acquisition was formally concluded in May 2015, marking the end of an era for NITEL and the start of a new chapter with ntel.

Before its sale, at its pre-GSM era peak in 2000, NITEL was the government-owned monopoly that held a subscriber base of about 497,000, while its mobile subsidiary had a subscriber base of 30,000. Private Telephone Operators like Multilinks, Intercellular and others accounted for about 40,000, bringing NITEL and Mtel’s combined subscriptions to over 95% of Nigeria’s telecoms market of that era.

NatCom acquired a significant portfolio of assets:

• Operating licences covering national carrier, international gateway, and mobile services.
• Spectrum assets in the 900/1800/1900 MHz bands.
• International connectivity, including stakes in the SAT-3/WASC/SAFE submarine cable system and full ownership of the Lagos Cable Landing Station.
• Metro-fibre ducts, intercity fibre rights of way, and other local connectivity infrastructure.
• Tower sites, telephone exchanges, and satellite earth stations.

These assets gave ntel a strong foundation to position itself as a modern, data-driven player in Nigeria’s telecoms sector.

A cloud over the sale

Not everyone agreed that the sale was in Nigeria’s best interest. Reports suggested that then-President Muhammadu Buhari believed NITEL’s assets were “thrown away”, reflecting concerns that the liquidation undervalued national infrastructure painstakingly built with public funds.

That sentiment has continued to shadow ntel’s existence. For many Nigerians, the story of NITEL remains a cautionary tale of how mismanagement and policy missteps can destroy strategic national enterprises.

Post-acquisition struggles

While ntel launched with promises of blazing 4G/LTE services and ambitions to compete with MTN, Airtel, Glo, and 9mobile, its path has been anything but smooth.

Reports suggest that ntel’s owners have, at times, had to “pull political strings to fix regulatory impasses.” Despite inheriting valuable assets, ntel has struggled with capitalisation, subscriber growth, and market penetration in an industry dominated by deep-pocketed rivals.

In addition, some of NITEL/Mtel’s properties continue to be caught up in government processes. For example, in February 2023, the Lagos State Government (LASG) began the process of acquiring a prime NITEL property at 3-5 Moloney Street, Tafawa Balewa Square, Onikan, valued at ₦2.5 billion. The property, listed among NITEL/Mtel’s non-core assets by the liquidator, remains encumbered by illegal occupants, but LASG has pledged a “harmless takeover.”

This acquisition was granted approval by the NCP, chaired by Vice President Yemi Osinbajo, underlining how the disposal of NITEL/Mtel’s once-vast property portfolio continues years after privatisation.

The ntel promise At launch, ntel marketed itself as an indigenous broadband champion that would drive Nigeria’s digital transformation. Leveraging its 4G LTE-Advanced network, the company promised high-speed internet services, seamless voice-over-LTE (VoLTE) calls, and innovative enterprise solutions.

Its control of key assets like the SAT-3 submarine cable and intercity fibre gave it a strategic advantage, particularly as Nigeria’s internet economy began expanding. ntel positioned itself as the operator to bridge the gap between Nigeria’s broadband ambitions and reality.