President Bola Tinubu has given a reassurance of Federal Government’s dedication to expanding Nigeria’s broadband infrastructure, highlighting a $2 billion investment in fibre optic cables aimed at accelerating nationwide internet connectivity.
On Monday, Bayo Onanuga, Special Adviser on Information and Strategy to the President, made the declaration in a statement.
Discussing in Abuja while receiving a report from participants of the Senior Executive Course 46 of the National Institute for Policy and Strategic Studies, Kuru, Tinubu emphasized on the relevance of digital infrastructure in boosting economic growth, job creation, and youth empowerment.
The report, titled “Digital Economy, Youth Empowerment and Sustainable Job Creation in Nigeria: Issues, Challenges and Opportunities,” unveiled an eight-point recommendation to the federal government, urging the speedy assent of the Digital Economy and e-Governance Bill 2024 and the waiver of Right of Way fees to accelerate telecom infrastructure deployment.
Responding to the report, the President emphasized his government commitment on utilising technology to empower the youth and create sustainable jobs.
“At the core of our administration is youth empowerment. We cannot relent on that, and we need everyone’s collaboration,” Tinubu said.
“I have listened carefully to your recommendations and the thorough work you did. We will continue to engage the Institute as a resource centre and Think Tank.”
Giving elaborate information on the broadband expansion initiative, the Minister of Communications and Digital Economy, Bosun Tijani, highlighted that the federal government had assented a $2 billion investment into 90,000 kilometres of fibre optic cables, making it one of the largest broadband infrastructure projects in Africa.
“This project will have the third-longest fibre network in Africa, following South Africa and Egypt,” Tijani stated.
He highlighted that major development had been utilized, with backing from the Ministry of Finance and a $500 million commitment secured from the World Bank.
Tijani also disclosed that Nigeria is on the move to become one of the premier countries in Africa to fully proceed from IPv4 to IPv6, ensuring higher internet connectivity and security.
On the Right of Way fees, the Minister revealed that 11 states have so far responded to the federal government’s demand to lift the charges, a move aimed at bringing down the cost of broadband expansion and facilitating internet penetration all over the country.
Meanwhile, the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, emphasized the growing role of ICT sector in Nigeria’s economy, disclosing that the industry contributed 16% to the country’s GDP in 2024.
“We are prioritising the ICT sector as a key driver of economic stability and job creation,” Edun stated.
He also referred to the President’s current meeting with Flutterwave’s CEO, where the company promised to help Nigerian youth and small businesses via technology-driven solutions.
“Flutterwave is considering listing on Nigeria’s Stock Exchange, and we expect this to strengthen the tech and payments ecosystem further,” he stated.
While unveiling their recommendations, Prof. Ayo Omotayo, the Director-General of NIPSS, buttressed on the necessity for targeted policies to meet infrastructural deficits, digital skill gaps, and regulatory challenges.
“We recognise that in an era where technology drives innovation, Nigeria must aggressively leverage its youthful population to build a thriving ecosystem,” he said.
He harps on continuous funding for the 3 Million Technical Talent programme, the establishment of Digital Health Innovation Hubs, and the adoption of a Quintuple-Helix Model to facilitate digital transformation.
President Tinubu gave assurance to the stakeholders that his government would take decisive steps to execute key recommendations, directing the Minister of Communications and Digital Economy to arrange with the NIPSS team for streamlined execution.
“You are an asset to our country, and I thank the participants for their dedication to their studies. We will continue to collaborate with you for the prosperity of our country,” Tinubu stated.
