In a significant move towards enhancing internet accessibility across Nigeria, the Federal Government has given the green light for the establishment of a special purpose vehicle (SPV) to oversee the implementation of a massive 90,000km fiber optic cable project.

Announcing the decision on Tuesday, the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, emphasized the pivotal role of the SPV in managing the ambitious project, which aims to facilitate universal internet access nationwide.

ncing the decision on Tuesday, the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, emphasized the pivotal role of the SPV in managing the ambitious project, which aims to facilitate universal internet access nationwide.

Tijani underscored that the initiative would bolster Nigeria’s internet infrastructure, leveraging the utilization of eight submarine cables already present in the country. With an anticipated increase in fiber optic cable capacity from 35,000km to 125,000km, Nigeria is poised to rank as Africa’s third-largest terrestrial fiber optic backbone.

Highlighting the strategic importance of the project, Tijani outlined its broader objectives, including the optimization of data capacity provided by existing submarine cables and the expansion of internet connectivity to over 200,000 educational, healthcare, and social institutions.

Moreover, the minister emphasized the project’s socioeconomic impact, projecting a significant boost to the country’s GDP growth by up to 1.5 percent per capita. This growth trajectory is expected to elevate Nigeria’s GDP from $472.6 billion in 2022 to $502 billion over the next four years.

The announcement comes amidst findings by the Groupe Special Mobile Association, revealing that 71 percent of Nigerians lack regular access to mobile internet.

Tijani underscored that the initiative would bolster Nigeria’s internet infrastructure, leveraging the utilization of eight submarine cables already present in the country. With an anticipated increase in fiber optic cable capacity from 35,000km to 125,000km, Nigeria is poised to rank as Africa’s third-largest terrestrial fiber optic backbone.

Highlighting the strategic importance of the project, Tijani outlined its broader objectives, including the optimization of data capacity provided by existing submarine cables and the expansion of internet connectivity to over 200,000 educational, healthcare, and social institutions.

Moreover, the minister emphasized the project’s socioeconomic impact, projecting a significant boost to the country’s GDP growth by up to 1.5 percent per capita. This growth trajectory is expected to elevate Nigeria’s GDP from $472.6 billion in 2022 to $502 billion over the next four years.

The announcement comes amidst findings by the Groupe Special Mobile Association, revealing that 71 percent of Nigerians lack regular access to mobile internet.