The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, says Nigeria’s new $2 billion broadband project will significantly boost the country’s Gross Domestic Product (GDP) growth.
Tijani stated this during the plenary on Smart Growth, Digital Leap hosted by IHS at the 31st Nigerian Economic Summit (NES #31) in Abuja.
He said the project would enable digital inclusion and position Nigeria as Africa’s next global technology exporter.
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 percent government and 51 percent 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.
He noted that, according to the National Bureau of Statistics, the ICT sector already contributes about 15 percent to Nigeria’s GDP.
However, Tijani lamented that broadband penetration remains around 50 percent, leaving millions of Nigerians offline.
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He added that a 10 percent rise in broadband access could raise GDP by two per cent annually, in line with World Bank data on digital economies.
The minister stated that the $2 billion plan, supported by partners such as the World Bank, IFC, and the Africa Finance Corporation, aims to close that gap.
He explained that the initiative would also classify broadband as national critical infrastructure, which would fast-track private investment and reduce telecoms operational costs.
Tijani said one notable example of public-private collaboration was the IHS Towers innovation hub project, described as West Africa’s largest.
He said the hub was expected to train thousands of young Nigerians, offering incubation spaces and access to global investors, a model similar to those in India and Brazil.
The minister said the project’s economic impact would extend beyond the technology sector.
He cited economists’ estimates that improving rural broadband access could add up to 25 billion dollars annually to Nigeria’s agricultural output, supporting export diversification.
