Phase3 Telecom has said that the company and Alheri Engineering limited are not indebted to the federal government to the tune of N27.18 billion over a concession agreement with Transmission Company of Nigeria (TCN).

The company while addressing the media in Abuja on wednesday disputing the debt, said it refutes such gross erroneous publications making the rounds in some media houses, adding that such insinuations are far from true but intended to obscure what the real issues are.

Mr. Azeez Adebayo, the Director, Legal and Regulatory Services of Phase3 Telecom Limited, said the company and Alheri Limited are not owing the federal government N27.18 billion over fibre optic agreement.

He said: “Despite deployment challenges including multi-year delays in linesmen allocation by TCN and devaluation of the naira, Phase3 assures that all undisputed payments such as total concession fee payment, royalties and rental payment for equipment space to TCN are up to date.”

Adebayo averred that although a dilapidated fibre optic was inherited from TCN, the company however has deployed 2000km and installed state of the art transmission equipment along with the rehabilitation of the existing fiber, adding both companies have expended more than $100 million as capital and operating expenditure.

On the Right of Ways (RoWS), he said the issue is obviously an attempt by TCN to resist the harmonization of RoWs for deployment of fibre optic cables as agreed and communicated by the National Economic Council (NEC) towards affordable broadband services across the country.

“Fortunately, the contract review process towards ensuring the success of this project for the overall benefit of the country is currently under the supervision of the Infrastructure Concession Regulatory Commission (ICRC).” he said.

He expresses confidence that the companies will be vindicated as it continue to provide affordable and robust service solutions that will see customers and other businesses rapidly leverage the opportunities of reliable broadband internet across the country.