Nigerian president Muhammadu Buhari has initiated a probe into last year's sale of national telco the Nigerian Telecommunications Ltd. (NITEL).

The president has called for a comprehensive report on the transaction overseen by the previous administration. This followed a meeting with ministry officials, including Dr Tunji Olaopa, permanent secretary in the Ministry of Communications Technology.

While stating that he was not against the sale, Buhari said a probe was necessary due to dissatisfaction amongst former employees of the company and others, particularly over how the company's assets were sold.

Buhari has also urged the communication technology ministry to fully develop the revenue generation potential of the country's ICT sector.

A statement issued by the senior special assistant to the president on media and publicity, Malam Garba Shehu, revealed that the president also called for all pending proposals for the development of the ICT sector in Nigeria, especially those that require the approval of the Federal Executive Council (FEC).

"Where you don't need Exco approval and you are not in breach of the law and will not lose money, you can go ahead. Now that oil costs less and we are contending with its (sic) theft, we have to move to areas where we can realise revenue quickly," said Shehu.

Olaopa, along with other officials, agreed that the ICT sector had the potential to contribute 10% of Nigeria's GDP, and 20% if the president approves and implements some of their proposals which were not yet made public.