The Federal Government has plans to channel $460m, representing about 92% of a $500m World Bank loan, into the capitalisation of a proposed fibre infrastructure company
‎The company is set up to deploy 90,000 kilometres of climate-resilient broadband fibre across the country.
‎This was contained in the Financing Agreement for the Building Resilient Digital Infrastructure for Growth project between the Federal Government and the International Development Association, the concessional lending arm of the World Bank.
‎According to the document, the proposed Project Company will be established as an independent, majority privately-owned and managed special purpose vehicle-joint venture
‎The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, said in a statement that the project would imptove the national backbone for internet access and optimise the use of eight submarine cables already in the country
‎The rollout plan includes seven main fibre rings connecting the country’s six geopolitical zones with Lagos, along with 37 city-level fibre loops, 77 regional networks, and multiple edge data centres.
Edited by Favour Owonibi.