On Wednesday, the Federal Government announced considerable progress in creating a Special Purpose Vehicle (SPV) to expand Nigeria’s fibre optic network by 90,000 kilometers. Bosun Tijani, the Minister of Communications and Digital Economy, shared that an effective meeting with stakeholders outlined the required steps for this initiative.
Approved in May, this venture aims to improve internet connectivity in remote and underserved areas. The SPV will handle the project’s execution, funding, and operations, following successful public-private partnerships like the Nigeria Inter-Bank Settlement System (NIBSS) and Nigeria Liquefied Natural Gas (NLNG).
This expansion will increase Nigeria’s fibre optic infrastructure from 35,000 km to 125,000 km, positioning it as the third-largest in Africa. Tijani expressed appreciation to Finance Minister Wale Edun, the World Bank, and other partners for their support.
The initiative aims to enhance nationwide connectivity, benefiting millions of citizens. It is expected to stimulate GDP growth by up to 1.5 percent per capita, potentially raising GDP from $472.6 billion in 2022 to $502 billion over four years.
The National Broadband Plan 2020–2025 emphasizes broadband access, 4G deployment, and digital economy strategies, targeting data speeds of 25 Mbps in urban areas and 10 Mbps in rural areas, with coverage for 90 percent of the population by 2025, at a cost not exceeding N390 per GB.
