The West Indian Ocean Cable Company (WIOCC) is set to invest $10 million in Nigeria’s digital infrastructure, according to a Memorandum of Understanding (MoU) signed with the Federal Ministry of Communications, Innovation & Digital Economy (FMCIDE).
This investment will facilitate the deployment of a hyperscale open-access digital platform for internet service providers (ISPs) through advanced fiber and colocation facilities, aiming to connect approximately three million Nigerian homes.
The Federal Government, through FMCIDE, has entered into this agreement with WIOCC to enhance broadband access and quality across the country. This partnership will leverage WIOCC’s expertise in fiber infrastructure and colocation services to improve connectivity for Nigerian households and businesses.
Speaking on the development, Minister Bosun Tijani, said the development is timely given the recent hike in telecommunications service tariffs. “This investment will help our vision of providing interconnectivity services to homes at an affordable price,” he assured.
Meanwhile, WIOCC Group’s Chief Business Development Officer, Darren Bedford, has emphasized the company’s dedication to Nigeria’s digital transformation.
He stated, “We’ve established an initial target of connecting three million homes, backed by an initial investment of $10 million. This investment will expand over time as we secure and deploy further capital within the Nigerian market.”
Bedford further highlighted WIOCC’s vision to cultivate a robust digital ecosystem that fosters sustainable economic growth and benefits all stakeholders.