The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, announced that the government is already attracting investor interest in its proposed $2 billion fund for laying fiber infrastructure nationwide. The Minister shared this information during a sideline interview with Arise TV correspondents at the ongoing World Economic Forum in Davos, Switzerland, emphasizing the project’s significance as one of his major initiatives.
Dr. Bosun Tijani stated, “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.”
He added, “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.”
The Minister observed that numerous operators are hesitant to install fiber in various regions outside major cities due to the lack of profitability. “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 fiber optic cable, there are not enough customers there to bring a return on investment,” Dr. Bosun Tijani clarified.
To address this, Tijani mentioned that the Ministry is actively working to connect all public institutions nationwide, boosting internet demand. The National Broadband Alliance for Nigeria (NBAN) has been established to drive adoption in crucial public entities like schools, hospitals, government offices, libraries, and markets. The Alliance aims to promote collaboration for broadband development, positioning Nigeria in the global digital forefront.
