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

Pan African Towers (PAT) Limited, a Nigerian firm has entered into a N7.2billion ($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, PAT’s Chief Executive Officer, Wole Abu, says the deal is significant because “it is 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”.

According to Abu, the deal will impact greatly and positively on the quality of both voice and data service in the country citing erratic power supply as one of the major challenges impeding telecoms operators’ growth in Nigeria.

Sherisse Alexander, the Director, Investor Relations, Watt Renewable, notes that for improved services, partnership between telecoms operators and power firms are critical to the sector, citing low investor confidence as on of the challenges facing the sector in Nigeria.

Alexander adds that there will be discussions with other tower operators in the country including IHS and PTY.