Nigeria’s telecommunications sector will receive a new $3 billion investment by next month, with inflow targeted at boosting the level of equipment and fibre optic infrastructure.

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, revealed this during a panel at the Nigeria Development Update (NDU) event organised by the World Bank.

Tijani said a substantial investment will drive the enhancement of Nigeria’s digital backbone.

He disclosed that telecommunication equipment valued at $1 billion was expected to arrive in the country by mid-2025.

He added that this will be accompanied by fibre optic cables worth an additional $2 billion, aimed at strengthening broadband infrastructure across the country.

This $3 billion investment is the result of sustained efforts by the Federal Government, in collaboration with the World Bank, to attract long-term financing for broadband expansion.

According to him, the initiative aimed to significantly enhance communication services across the country and bridge the connectivity gap.

Tijani also noted that a pilot phase targeting over 20 million Nigerians who currently lack access to any form of telecommunications would soon be launched.

This project is expected to expand telecommunications access to unserved and underserved areas, particularly in rural communities.

Tijani explained that the initiative seeks to “significantly enhance communication services across the country and bridge the connectivity gap.”

This aligned with the broader goals of Nigeria’s digital economy agenda, which includes ensuring inclusive access to technology and connectivity for all citizens.
The NDU is a bi-yearly World Bank report that assesses the country’s recent economic and social developments, policy directions, and provides recommendations to address emerging challenges.