Polyacrylonitrile (PAN) solutions were deposited on quartz plates by spin coating to yield 2–3 µm thick PAN films. The films were decomposed at 1000°C in N2 atmosphere into electrically conducting carbonaceous coatings. When the precursor solution contained cobalt (0.2 g Co-acetate per 1 g PAN) and/or multi-wall carbon nanotubes (MWCNTs, 2 mg MWCNT per 1 g PAN) the specific electrical resistance of the product film dropped from the original 492 Ω·cm-1 value down to 46 Ω·cm-1. By excluding all other possibilities we came to the conclusion that the beneficial effect of carbon nanotubes is related to their catalytic action in the final graphitization of condensed nitrogen-containing rings into graphitic nanocrystallites