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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.

Palm, a financial technology startup based in Egypt, has completed its pre-seed funding round.

AHL Venture Partners (AHL) has secured a first close of $30.5 million for its new private credit vehicle, the AHL Africa Credit Fund I, marking a major step in the firm’s push to expand debt financing for African businesses.

Pan-African early-stage fintech fund manager First Circle Capital, backed by development partner International Finance Corporation (IFC) of the World Bank Group, has pledged up to $6 million to accelerate fintech innovation across Africa.