Nigerian telecoms operator ntel is gearing up for a major comeback after securing fresh, undisclosed funding facilitated by the Asset Management Corporation of Nigeria (AMCON). The capital injection is set to bankroll a phased revival, with the company targeting a Q1 2026 relaunch, marking a decisive step in its multi-year recovery plan.
The new financing follows AMCON’s ₦30.72 billion investment in August 2025, signalling a staged funding strategy rather than a single bailout. AMCON took control of ntel in 2024 with the aim of stabilising operations, restoring compliance, and eventually returning the company to private ownership.
Founded in 2015 from the assets of NITEL and MTel, ntel was once seen as Nigeria’s next major telecom challenger. Despite investing heavily in infrastructure, including a $252 million facility, the company struggled to scale, cycling through multiple leadership changes before fading from the market by 2024.
Under AMCON’s stewardship, ntel’s new strategy combines asset optimisation with a hybrid operational model, blending its existing network infrastructure with mobile virtual network operator (MVNO) partnerships. This approach aims to expand coverage while reducing capital expenditure.
The operator has already restarted hiring, with new positions such as Regional Admin Coordinator, Financial Planning Assistant Manager, and Front Desk Officer listed as part of efforts to rebuild its core workforce. ntel’s infrastructure still includes over 3,500 km of fibre and more than 600 base stations across major Nigerian cities—assets that can support both retail services and wholesale operations if efficiently deployed.
Leadership renewal is also central to the turnaround. In May 2025, AMCON appointed Soji Maurice-Diya, former CEO of American Tower Nigeria, as ntel’s new Chief Executive Officer. The move underscores the agency’s focus on leveraging ntel’s network assets, striking strategic roaming and MVNO deals, and prioritising faster routes to revenue rather than costly new builds.
Nigeria’s telecoms landscape, however, presents formidable challenges. Dominated by established players with strong brand presence, vast distribution networks, and competitive pricing, ntel will need to differentiate through innovative offerings, possibly targeting the enterprise, diaspora, or fixed-wireless broadband segments. Regulatory compliance, vendor negotiations, and infrastructure rehabilitation also remain potential roadblocks.
Despite the risks, ntel’s outlook appears more credible than in previous attempts. With AMCON’s financial backing, a leaner MVNO-plus-assets model, and a 2026 relaunch timeline, the operator has a realistic opportunity to re-emerge as a competitive alternative in Nigeria’s telecom market.
If ntel can successfully translate its infrastructure base into commercial utilisation and maintain disciplined spending under staged financing—it could finally realise the vision of a dynamic, home-grown telecom challenger envisioned a decade ago.
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