The Nigerian Government is Set To Fund a $2 Billion Fibre Optic Expansion Project To Boost Connectivity Across The Country

Nigeria is about to witness a massive boost in its digital infrastructure, thanks to a $2 billion fibre optic expansion project funded by the federal government. This ambitious project aims to deploy 90,000 kilometers of fibre optic cables, increasing the country's current fibre network from 35,000 kilometers to 125,000 kilometers.

The government plans to cover 50% of the project's cost, approximately $1 billion, with the remaining half expected to come from private sector investments. This public-private partnership model is designed to ensure the project's financial viability and efficient completion.

The fibre optic expansion project is expected to have a transformative impact on Nigeria's digital economy. It will increase internet penetration to over 70% and reduce access costs by more than 60%. This will bridge the digital divide, foster economic growth, create jobs, and drive technological advancements in the country.

International organizations like the World Bank and the African Development Bank are also supporting the project, with the African Development Bank pledging $200 million.

The project is set to commence in the second quarter of 2025, with the government establishing a special purpose vehicle (SPV) to oversee the fibre optic deployment.

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