FG TARGETS $750M CLOUD INVESTMENT, 90,000KM FIBRE

The Federal Government has announced plans to attract about $750m in cloud infrastructure investment and expand Nigeria’s fibre-optic network to 90,000 kilometres.

The initiative is aimed at strengthening the country’s digital infrastructure and improving access to reliable, high-speed internet services.

The government said the planned investment would support the expansion of cloud computing infrastructure and create a stronger foundation for Nigeria’s growing digital economy.

The proposed fibre network expansion is also expected to improve connectivity across different parts of the country and provide businesses, public institutions and individuals with better access to digital services.

Officials said improved digital infrastructure would help support sectors such as financial technology, telecommunications, education, healthcare and e-commerce.

The government also expects the initiative to attract private-sector investment and create opportunities for businesses involved in technology and digital services.

The expansion of cloud infrastructure could strengthen the country’s capacity to store and process data locally while supporting businesses that rely on digital platforms.

Authorities said the planned projects were part of broader efforts to position Nigeria as a competitive destination for technology investment.

The government stressed the importance of collaboration with private investors and other stakeholders to achieve the infrastructure targets.

It also highlighted the potential for improved connectivity to support innovation, job creation and economic growth.

The fibre expansion is expected to increase broadband coverage and help reduce connectivity gaps, particularly in areas that remain underserved.

The Federal Government said it would continue implementing policies aimed at creating an environment that encourages investment in Nigeria’s digital economy.

The proposed $750m cloud investment and 90,000-kilometre fibre target form part of the government’s broader strategy to strengthen digital infrastructure and support Nigeria’s technology sector.