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Nigeria to invest $732 million on broadband internet

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In view of the highly increasing demand for internet connectivity as use of data services cuts across all parts of Nigeria, the Government has revealed its plans to invest 265 billion naira ($732 million) in broadband infrastructure. This development will have a great impact on the Economy especially considering the fact that it will positively influence the sales of goods and services. This will be systematically implemented over the next four years.  The government is working on a nationwide coverage and this will significantly affect the Economy’s recovery from a 2016 decline.

The government will provide 65 billion naira for the project and six private infrastructure companies the balance under a public-private partnership, according to Umar Danbatta, the chief executive officer of the Nigerian Communications Commission.

The government of Africa’s biggest producer of crude oil wants to increase connectivity for the nation’s almost 200 million people as part of a drive to boost business and help diversify the economy away from the commodity.

The West African nation plans to roll out an additional 30,000 kilometers (19,000 miles) of fiber across its 774 local governments, taking the total to 71,000 kilometers by 2024, Danbatta said in a telephone interview from the nation’s capital, Abuja. The penetration rate could rise to 65% from 38%, he said.

The commission plans to start the project this year after obtaining government approval. Danbatta said. “There will be data everywhere in the country and it will be cheap.”

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