11 Aug Nigeria seeks funding from China for final phase of its national broadband infrastructure project
The Federal Executive Council of Nigeria was held on August 8, 2017. At the end of this meeting, Adebayo Shittu, the Minister of Communications unveiled the government’s approval of the completion of component National high-speed infrastructure project.
According to Adebayo Shittu, the project, which will be financed “gracefully” to the tune of $ 238 million by China Nexim Bank, will allow, once completed, full coverage of the country’s optical fiber, a liaison of all ministries and agencies The federal government.
The Ministry of Finance will soon begin negotiations for the full implementation of the proposed financing by China Nexim Bank. The Minister of Communications added that “broadband deployed will not only benefit federal departments and agencies, but also the private sector, especially GSM and other ICT industries.”
With fiber optics to be deployed across the country, the Nigeria government wants to combine two new communications satellites that will strengthen the capabilities of Nigerian Communications Satellites Limited (NIGCOMSAT). On 2 August 2017, at a meeting in Abuja with stakeholders in the creation of the ICT University, ICT Development Bank and ICT Parks and Exhibition Center Adebayo Shittu explained that the country is seeking 550 Million of China to acquire these infrastructures.
This renewed interest in the ICT sector in Nigeria today stems from the economic diversification decided by the federal government following the many violent repercussions that the country has experienced following the oil crisis triggered in 2014.
Source: Agence Ecofin