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The Federal Government announced its readiness to establish Nigeria as the third-largest terrestrial fibre-optic infrastructure nation in Africa, with the proposed installation spanning 90,000 km.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, gave this assurance at the Fibre Forward Strategic Development Workshop.
The event was organised by the Federal Ministry of Communications, Digital Economy and Information Technology.
A statement signed by the Director, of Information and Public Relations, Mohammed Manga on Wednesday, said the Workshop marked a significant milestone in Nigeria’s journey towards revolutionizing connectivity through a $2bn Special Purpose Vehicle initiative.
“The project aims at extending the nation’s fibre-optic backbone by 90,000 km, positioning Nigeria to boast as Africa’s third-largest terrestrial fibre-optic infrastructure, upon completion,” the statement partly read.
In his address at the event, the minister reiterated the Federal Government’s unwavering commitment to ensuring the project’s success, which will foster economic growth, job creation, and technological empowerment.
This initiative demonstrates Nigeria’s dedication to bridging the digital divide and achieving a digitally driven economy.
Last month, the government approved a special purpose vehicle to support the delivery of an additional 90,000km of fibre optic cable for universal access to the internet across Nigeria.
An SPV is a separate legal entity created to achieve a specific goal or project. In this context, the SPV will manage the fibre optics project, overseeing its implementation, finances, and operations.
The project domiciled under the Digital Communication ministry ministry would be modelled in governance and operations similar to some of the best public-private partnership setups in Nigeria, such as NIBSS and NLNG.
According to the minister, Bosun Tijani, the project will also ensure the inclusion of, at least, 50 per cent of the 33 million Nigerians currently excluded from access to the Internet.
He added that the project was expected to have a significant impact on the country’s economy, with projected gross domestic product growth of up to 1.5 per cent per capita, raising GDP from $472.6bn in 2022 to $502bn over the next four years.
“This extensive coverage will enable us to optimise the unique benefit of having eight submarine cables already landed in Nigeria and, therefore, drive uptake of the data capacity that the cables offer beyond the current usage level of 10 per cent.
“Building on our existing work with the Broadband Alliance, this increased connectivity will help plug the current non-consumption gap by connecting over 200,000 educational, healthcare and social institutions across Nigeria, ensuring that a larger section of our society can be included in the benefits of internet connectivity,” he said.
