M-Tel CEO expects turnover to double this year

9 May 2005

Nitel GSM (which operates under the brand name M-Tel) has said it expects turnover to almost double to NGN30 billion (USD227 million) this year, up from NGN15.5 billion in 2004. On Saturday CEO Edwin Moore Momife announced that the cellco will increase its capacity by 1.5 million lines in 2005 and that it expects to have signed up two million subscribers by the end of June. M-Tel is the mobile arm of state-backed former monopoly operator NITEL and currently Nigeria’s smallest cellco by subscribers, behind Globacom, MTN Nigeria and Vee Networks.