The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani has said that the government is already receiving investors’ interest in its proposed $2 billion fund for laying fibre infrastructure across the country.
The Minister disclosed this on the sidelines of the ongoing World Economic Forum in Davos, Switzerland. Emphasizing the importance of the project, Tijani said it would be one of his biggest achievements as a Minister when completed.
Recall that the Minister in December last year had declared that the country would require an estimated $2 billion investment to lay fibre optic cables across the country.
This was premised on the need to deploy around 95,000 kilometres of cable in addition to the 35, 000 kilometres already deployed to ensure complete coverage of the country.
What the Minister said
- “So we’re working hard to put it (the fund) together and we are extremely excited about the interest that we are getting. This is about infrastructure, so many people want to be part of it. And what we’re thinking is that the government is not going to pay for it, but the government will guarantee the loan for private companies to actualize it because if the government funds it then we have not achieved our objective.
- “Not only that, we want to ensure that in the next two to three years, a significant part of Nigeria is covered. For those who understand the power of connectivity, you know that due to its economic significance, it is going to be one of the biggest things I do as a minister once we’re able to achieve it.”
Driving internet consumption
The Minister noted that many operators are not willing to lay fibre in many parts of the countries outside the major cities because it would be unprofitable.
- “The reason why we’re not there yet as a country is that private companies will tell you that there are parts of Nigeria that if they invested and put fibre optic cable, there are not enough customers there to bring a return on investment,” Tijani stated.
In addressing this concern, Tijani said the Ministry is now working to ensure that all public institutions across the country are connected to stimulate internet demand and consumption. Nairametrics earlier this week reported that the Communications Ministry has set up a National Broadband Alliance for Nigeria (NBAN) to stimulate adoption and consumption in key public institutions.
The institutions being targeted include schools, hospitals, government offices, libraries, and markets, among others. According to the Ministry, the purpose of the Alliance is to tackle the low and non-consumption challenge and its resultant poor return on investment (ROI) in the nationwide fibre network.
It added that the Alliance was also created to foster collaboration for broadband development and adoption, as well as to position Nigeria at the forefront of the global digital landscape.
