The Federal Government announced on Wednesday that securing the requisite $2bn to fund the ambitious nationwide fibre optic cable project, spanning 90,000km, may require up to 18 months.
The Minister of Communications and Digital Economy, Bosun Tijani, who is currently at the 79th session of the United Nations General Assembly, made this disclosure in an interview with Arise TV.
This project will increase the country’s fibre network from 35,000km to 125,000km, positioning Nigeria as the third-longest terrestrial fibre optic backbone in Africa, behind Egypt and South Africa.
The African Development Bank had pledged $200m while the World Bank, the African Export and Import Bank, and the United States Export and Import Bank were also involved as donors, the minister told reporters in May after the Federal Executive Council meeting at the Aso Rock Villa, Abuja.
Tijani, who said he is actively seeking partnerships with relevant stakeholders at UNGA, acknowledged that the ambitious project is unlikely to receive immediate praise but remains optimistic that the project will be completed in due course.
