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A critical component of the plan involves the establishment of a Special Purpose Vehicle (SPV) tasked with overseeing the deployment of an additional 90,000 kilometers of fiber optic cabling.
This substantial investment will significantly bolster Nigeria’s national internet backbone, paving the way for nationwide internet access.
The announcement builds on a collaboration between the Nigerian government and the World Bank, previously revealed in March by Tijani, to secure $3 billion in funding for network expansion. Specific details regarding additional project funding were not disclosed.
Upon completion, Nigeria’s total fiber optic coverage is expected to jump from its current 35,000 kilometers to a minimum of 125,000 kilometers.
This expansion will solidify Nigeria’s position as Africa’s third-largest holder of terrestrial fiber optic backbone infrastructure, following Egypt and South Africa.
The enhanced network capacity is anticipated to unlock the full potential of Nigeria’s existing eight submarine cables.
With only 10% of their data capacity currently being utilized, this project is expected to significantly increase data utilization across the country.
Leveraging its existing partnership with the Broadband Alliance, improved internet connectivity will specifically target educational institutions, healthcare facilities, and social organizations, according to Tijani.
Over 200,000 such entities are expected to be connected, ensuring a wider segment of Nigerian society benefits from internet access.
Addressing the high cost of RoW is crucial to ensuring equitable access to essential broadband services for all Nigerians, particularly those in remote areas.

Egyptian online auto parts marketplace Mtor has secured $2.8 million in pre-seed funding, led by venture capital firm Algebra Ventures, with participation from notable investors, including Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and several prominent local and global angel investors.

Visa has announced the 19 African startups selected to participate in the third cohort of its Visa Africa Fintech Accelerator program.

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is planning to invest up to $8 million in Aruwa Capital Fund II, a private equity fund targeting small and medium-sized enterprises (SMEs) in West Africa.