NAIRAMETRICS
The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, has said that Nigeria’s effort to build 90,000 kilometres of fibre across the country has received a massive boost from the World Bank.
The Minister announced this via a post on his X handle on Wednesday.
While Tijani did not specify whether the boost was in the form of financial commitment or other form of support, the Minister had earlier indicated that he was talking to financiers, including the World Bank to raise the $2 billion needed for the project.
“An excellent few days in DC with the World Bank as we received a massive boost for our 90,000km Fibre Fund project. We’re ready to move! Let’s go,” a seemingly elated Tijani posted.
Earlier, the Minister had disclosed that multiple organizations were finalizing arrangements for the project’s financing.
“The Federal Executive Council (FEC) FEC has approved the SPV that will deliver on this project, and our development funding partners are currently finalizing the SPV structure to ensure the aggregation of funding required for the effective deployment of the fibre-optic network.
“Our target is for this deployment to start within the next 6 months,” the Minister stated in his update on the project last month.
“By connecting more communities across the country, we will ensure that many more of our citizens can connect to the benefits of the digital economy,” Tijani added.
Dr Tijani earlier in May this year announced the approval of the SPV by the FEC, noting that it would be modeled in governance and operations similarly to…
