The Lagos State government has secured a $22 million foreign direct investment (FDI) for the expansion of fibre optic infrastructure to boost its push for smart connectivity and digital growth across the state.
The Special Adviser to the Governor on Infrastructure, Olufemi Daramola, disclosed this during the ministerial press briefing commemorating the second year of Governor Babajide Sanwo-Olu’s second term in office.
Daramola said the Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA) secured the $22 million commitment as part of its ongoing efforts to expand the state’s fibre duct network.
“In the same vein, the Lagos State Infrastructure Maintenance Agency (LASIMRA) has also made significant boost in the state’s investment in Fibre Duct Expansion: with an additional 2,700km installations planned, building on 3,000km completed by WTES, to enhance connectivity while also securing a commitment of $22 million foreign direct investment for quality fibre installations in Lagos State,” he said.
The investment comes amid the state’s broader plan to deepen its digital backbone by enhancing broadband access and digital services through extensive fibre coverage.
