The Nigerian Communications Satellite Limited (NIGCOMSAT) says it earned $1.6 million in 2025 , noting that this is even as it faces a dispute over its main satellite.
The update was given by its Chief Executive, Jane Egerton-Idehen, during a press briefing in Lagos, on Friday, 10th of April, 2026.
The company said it made ₦2.2 billion in revenue last year, noting that it is a big rise from ₦650 million in 2024.
Reports have it that the growth comes amid a dispute over $11.4 million in unpaid fees.
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Egerton-Idehen said the growth was planned and steady and is not a one-time increase, explaining that the company is working to grow even more.
She said broadcasting remains the company’s main source of income, insisting that it brings in more than half of total earnings, just as the firm also supports many licensed broadcasters in Nigeria.
The CEO, who said broadband is the next big focus, explained that this area is still not fully used and expressed believes that it can help the company reach higher revenue.
She said the company is targeting about ₦8 billion in future earnings, noting that it will come from broadband services and new markets.
Research indicates that the growth comes at a time of concern over Nigeria’s only working satellite, NigComSat-1R, as the satellite is reportedly aging and expected to last until about 2028.
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Reports also have it that there is a dispute with China Great Wall Industry Corporation, a company managing part of the satellite system.
Reports say NIGCOMSAT owes the Chinese firm about $11.4 million, adding that the debt is linked to services and control of the satellite from China.
It was gathered that the Chinese firm warned it may stop support if the debt is not paid, a move that has raised concerns about the satellite’s future.
Despite this, NIGCOMSAT said it is working to improve services, as the CEO said the company is fixing past issues and building trust again.
She said some customers left in the past due to poor service, disclosing that the company is now improving quality, awareness and technology.
Experts say the growth is important for Nigeria’s space sector. They note that satellite services are key for communication and security.
According to research, satellite services help connect remote areas where mobile networks do not reach and support defence, as well as emergency services.
Sources noted that industry observers indicate that Nigeria must invest more in space technology, expressing believe that stronger systems can boost the economy and digital growth.
According to reports, the Federal Government has already approved plans for two new satellites, which are expected to launch in 2028 and 2029.
Report has it that the planned new satellites aim to improve connectivity and reduce risks from the aging system, while also supporting broadband expansion.
Sources also noted that some Analysts remarked that the new plans show that Nigeria wants to grow its space capacity, as they expressed believe that this will help improve internet access and services.
According to reports, the development shows both progress and challenges, highlighting the need for strong investment and better management in Nigeria’s space sector.
