A significant contribution of $500 million has been pledged by the World Bank to Nigeria’s extensive 90,000km fiber optic project by Q3 2025. This funding is part of the total $3.2 billion required for the project.
Recently, a $2 million grant was signed by the US, and other development finance institutions like the Islamic Development Bank and the African Development Bank have also shown financial commitment.
The Minister of Communications, Technology, and Innovation has been focusing on expanding the national fiber backbone to provide high-speed internet access, especially to rural areas that are underserved. The plan to extend the network to 125,000km aims to bridge infrastructure gaps and enhance digital connectivity nationwide.
While financial backers have shown interest in the project, concrete progress is needed to maintain momentum. Addressing issues like fragmented state policies and alignment among stakeholders is crucial for the project’s success.
Although the funding commitments are promising, the project’s success will depend on resolving these challenges. The Minister has acknowledged that the project timeline may extend beyond the initial two years, with trenching set to begin by Q3 2025 for a projected completion by 2031.
The journey ahead remains uncertain, and only time will reveal the project’s outcome.