Nigeria’s Minister of Communications, Innovation, and Digitisation, Dr. Bosun Tijani, has announced the launch of a Special Purpose Vehicle (SPV) dedicated to extending Nigeria’s fibre optic infrastructure by an additional 90,000 kilometres.
“We have secured approvals for projects that will significantly benefit Nigerians, particularly our burgeoning digital startup ecosystem,” stated Dr. Tijanin in a LinkedIn post following a Federal Executive Council meeting held on Tuesday, 14th May.
Dr Tijani emphasized that extensive groundwork has been laid for the establishment of the SPV, which will operate under a governance and operational model inspired by successful Public-Private Partnership setups in Nigeria. He added that the “SPV will be instrumental in expanding our connectivity backbone, facilitating access to the internet for millions of Nigerians.”
Collaborating with both government entities and private sector stakeholders, the SPV aims to elevate Nigeria’s fibre optic coverage to a minimum of 125,000 kilometres, making it the third-longest terrestrial fibre optic backbone in Africa, following Egypt and South Africa.
“This expanded coverage will harness the potential of the eight submarine cables already landed in Nigeria, driving greater utilisation of their data capacity.” Dr. Tijani noted.
The initiative is expected to yield numerous benefits, including a major increase in internet penetration to over 70%, a potential reduction of internet access costs by over 60%, and the inclusion of at least 50% of the 33 million Nigerians currently excluded from internet access. The minister remarked that the expansion is not “merely about connectivity; it’s about fostering economic growth and societal inclusion.”
Furthermore, the minister highlighted the projected impact on GDP growth, estimating a potential increase from $472.6 billion in 2022 to $502 billion over the next four years. He attributed this growth to enhanced digital connectivity and utilisation, and that it would stand as “a testament to Nigerian excellence and our commitment to leveraging technology for the betterment of our nation.”
By Derrick Kafui Deti – Digital Economy Magazine
