The Federal Executive Council (FEC), Nigeria’s highest decision-making body yesterday approved two exciting initiatives that will hold immense potential for Nigerians, particularly those in the digital startup ecosystem.
One of such initiative is a 1. 90,000km Fibre Optic Cable Expansion, which will be driven by a Special Purpose Vehicle (SPV) to oversee the deployment of an additional 90,000km of fibre optic cable infrastructure.
According to the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, the move will significantly strengthen Nigeria’s national internet backbone, aiming for universal access across the country.
“The SPV, modeled after successful public-private partnerships like NIBSS and NLNG, will involve collaboration between government and private stakeholders. Upon completion, Nigeria’s fibre optic network will reach a massive 125,000km, making it the third-largest terrestrial backbone in Africa,” he posted on his X handle @bosuntijani.
Benefits of Increased Connectivity:
- Improved utilization of existing submarine cable capacity, boosting data accessibility beyond the current 10% usage.
- Collaboration with the Broadband Alliance to connect over 200,000 educational, healthcare, and social institutions, promoting digital inclusion.
- Anticipated outcomes include:
- Increased internet penetration surpassing 70%.
- Potential cost reduction for internet access by over 60%.
- Bridging the digital divide by including at least 50% of currently unconnected Nigerians (33 million).
- Up to 1.5% boost in GDP per capita, potentially raising GDP from $472.6 billion (2022) to $502 billion within four years.
This project signifies a major step towards #NigerianExcellence in the digital landscape.
