Presidency has finalized arrangement to purchase two more satellites for the Nigerian Communication Satellite at the cost of $550 million.
Communications minister, Adebayo Shittu, made this known at the fourth national council on information communication technology in Kaduna.
Nigeria is already operating two communication satellites
Shittu said the presidency was negotiating with China Eximbank to source for fund to finance the acquisition of the two satellites.
He said the new satellites when acquired would be used to store data and act as back-up for the existing two satellites.