Nigeria: Govt Mobilising 49% of $2bn Fibre Optics Network Investments - Minister

The Minister of Communication and digital technology, Bosun Tijjani has stated that the government is mobilising 49 per cent of Nigeria's $2 billion fibre optics network investments project.

He stated this in Abuja at a plenary session organised by IHS, one of the largest independent owners, operators and developers of shared telecommunications infrastructure in the world.

Speaking at the ongoing Nigeria Economic Summit, Tijjani stated that in less than two years, 11 states declare zero right of way.

He said, "The biggest issue in the telecom sector is to invest in infrastructure which the federal government is currently mobilizing because we require huge broadband infrastructure to drive telecoms growth.

"Therefore, we said for Nigerians to have connectivity we need to invest in fibre optic networks and it will cost $2bn. Since no single company can raise that, the federal government opted to bring in 49 per cent and we want the private sector to bring the other 51 per cent.

"We realised that if we improve Broadband connectivity by 10 per cent, it will lead to growth by 2.5 per cent which is why we want every state and local government to have a fibre optics network and we believe we can deliver between 3 to 4 years," he added.

Tijjani further reiterated the role of AI in national growth adding that Nigeria has become the hub for telecoms investment. Sharing his perspectives, Mohamad Darwish, CEO IHS Nigeria at the Plenary Session on the topic "Smart Growth, Digital Leap" noted that to build a smart economy, Nigeria must reposition digital infrastructure, innovation, and talent not as peripheral sectors but as core inputs and catalysts for growth.

"Hence the reason we have convened this plenary session at this 31st Economic Summit is to highlight the infrastructure gaps affecting Nigeria's digital growth and economic competitiveness, and the basis for the gaps and identify regulatory reforms required to strengthen public-private partnerships that drive sustainable investment in infrastructure, innovation, and talent development," he said.

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