Abuja (WorldStage Newsonline)-- President Goodluck Jonathan has hailed the successful launching of the new Nigerian Communications Satellite on Monday in Xichang, China saying it will save the country $1billion (N155b)annually.

The expenditure according to the President was from the use of foreign bandwidth for GSM Communications, cable television, e-commerce and e-government by both public and private users in the country.

He therefore described the launching of the new satellite into the orbit as another great step forward for the country towards the development of a modern, knowledge- driven society.

The President who confirmed the saving in a congratulatory statement to the nation, said that the new satellite will substantially reduce the annual expenditure of over $1 billion arising from the use of foreign bandwidth for GSM Communications, cable television, e-commerce and e-government by both public and private users in the country.

He said: “Dear country men and women, investment in these high technology resources are part of our overall national strategy of developing an integrated critical national infrastructure capable of fast-tracking the transformation of our national economy, generating gainful employment for our youths and creating wealth for our dear country.

“Our primary goal remains the accelerated improvement in the overall welfare or our country and people.

“I send my sincere congratulations to you all for another great stride in our Transformation efforts.” President Jonathan also said that with the successful launching of the new satellite, Nigeria had kept up with the time-frame of activities contained in the country’s 25-year National Space Development Road-map.

He also pointed out that the new satellite which was paid for by the insurance policy on NigComSat-1 which de-orbited in 2009, will have a positive impact on national development in various sectors such as communications, internet services, health, agriculture, environmental protection and national security.

“It will enhance our communications system as well as facilitate cheaper access to the internet with a view to bridging the existing digital divide between our urban and predominantly rural communities and thereby bringing government nearer to the grass roots,” President Jonathan said.

NigComSat-1R, the President further added, will also help in the development of indigenous competence in the management of satellites and related technologies in Nigeria.

Story by Victor Iluyemi (info@worldstagegroup.com)