By Olaide Ajibola, JKNMedia Reporter
THE FEDERAL Executive Council (FEC) has given its nod to the establishment of a Special Purpose Vehicle (SPV) aimed at securing funds for the ambitious rollout of 90,000 kilometers of fiber optic cables nationwide.
This expansive project, revealed by Bosun Tijani, Minister of Communications and Digital Economy, during a post-FEC meeting press briefing in Abuja, seeks to augment the existing 25,000 kilometers of fiber optic infrastructure already laid across the nation, propelling Nigeria’s total coverage to an impressive 125,000 kilometers.
Tijani highlighted the meticulous groundwork undertaken by the ministry in collaboration with both governmental and non-governmental partners to pave the way for the establishment of the SPV.
Once realized, this initiative is poised to elevate Nigeria to the esteemed position of the third-largest terrestrial fiber optic backbone on the African continent, trailing only behind Egypt and South Africa in infrastructure magnitude and connectivity.
In a strategic move to fortify Nigeria’s presence in the global telecommunications arena, the FEC further greenlit the establishment of the Nigerian Startup House in San Francisco.
This visionary endeavour aims to position Nigeria as a formidable force in the global telecommunication landscape while fostering innovation and entrepreneurship within the burgeoning tech sector.
The Nigerian Startup House is envisioned as a catalyst for driving internet penetration to surpass 70 percent, concurrently slashing internet costs by a substantial 60 percent.
Tijani elucidated that an existing Nigerian property in San Francisco, owned by the federal government, could be repurposed to house the Nigerian Startup House, symbolizing Nigeria’s commitment to leveraging its assets for technological advancement and global competitiveness.
