AI-Summary – News For Tomorrow
Nigeria’s Minister of Communications, Dr. Bosun Tijani, believes a new $2 billion broadband project will significantly boost the nation’s GDP. Speaking at the 31st Nigerian Economic Summit, he highlighted the project’s ambition to achieve universal broadband coverage across all 774 local governments within three years through a 49% government, 51% private sector hybrid financing model. Tijani emphasized connectivity’s crucial role in productivity, citing World Bank data indicating a 10% broadband access increase could raise GDP by 2% annually. The project, supported by global partners, also includes training digital workers in AI through the 3 Million Technical Talent (3MTT) Programme, aiming to build national connectivity as a foundation for a trillion-dollar economy.
News summary provided by Gemini AI.
$2bn broadband project to boost Nigeria’s GDP growth – Minister
Nigeria’s Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, has said that Nigeria’s new $2-bilion broadband project will significantly boost the Gross Domestic Product (GDP) growth.
Speaking during the plenary on Smart Growth, Digital Leap hosted by IHS at the 31st Nigerian Economic Summit (NES No. 31) in Abuja on Monday.
The minister described the plan as an audacious bet, noting that fibre-optic broadband and innovation hubs could unlock Nigeria’s long-anticipated digital wealth.
Tijani said the project, with a hybrid financing model of 49 per cent government and 51 per cent private sector, targets universal broadband coverage across all 774 local governments within three years.
“Connectivity is not optional. It’s the foundation of productivity,” he said.
Tijani, however, lamented that broadband penetration remains around 50 per cent, leaving millions of Nigerians offline.
He added that a 10 per cent rise in broadband access could raise GDP by 2 per cent annually, in line with World Bank data on digital economies.
The minister said that the $2billion plan, supported by partners such as the World Bank, IFC, and Africa Finance Corporation (AFC), aims to close that gap.
Tijani said through the 3 Million Technical Talent (3MTT) Programme, the government plans to train digital workers in Artificial Intelligence (AI).
He stressed that Nigeria could not build a trillion-dollar economy without national connectivity.
Source: APA News
More Africa NewsAfricaBroadbandnetworkNigeria
