Adrian Wood Returns to Nigeria, Moves to Rebrand Ntel with Fresh Investors

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Adrian Wood, former CEO of MTN Nigeria, has re-entered the Nigerian telecom industry as the new Chief Executive Officer of ntel, the telecom company formed from the unbundling of NITEL.

Wood, who resumed his role on January 8, 2024, succeeds Dr. Babatunde Omotoba and has ambitious plans to raise $550 million for the restructuring and rebranding of ntel. He has assured ntel staff of his commitment to attracting fresh investors and revitalizing the company with new products and services.

In a letter to ntel staff dated June 5, 2024, Wood emphasized the importance of steadfastness and outlined his engagement with the Asset Management Company of Nigeria (AMCON), which has managed ntel since last year, and plans for its handover to new investors. He also mentioned his discussions with the Nigerian Communications Commission (NCC) and his strategy to introduce innovative products and services that are currently non-existent in the Nigerian telecom sector.

Wood highlighted his ongoing efforts to secure investment, including meetings with African Capital Alliance (ACA) and other potential institutional investors.

Source: This Day

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