Nigeria’s National Fiber Optic Broadband Program Seeks Chinese Loan
2022-05-16
According to local Nigerian sources, the Federal Government of Nigeria is set to hold consultations with the Export-Import Bank of China to secure a full loan for Phase II of the National Fiber Optic Broadband Network Initiative (NIPTI 2), amounting to approximately 100 billion naira (about RMB 1.83 billion).
The NIPTI 2 national fiber-optic broadband network is a complement to the Phase I initiative, NIPTI 1. According to reports, NIPTI 1 will cover most of Nigeria’s southern states and cities and is currently 80% complete, while the implementation of Phase II will achieve full nationwide coverage with fiber-optic broadband.
Nigeria’s Minister of Communications, Adebayo Shittu, stated, “Once the National Fiber-Optic Broadband Network project is fully completed, it will not only provide connectivity to all federal ministries, agencies, and government offices, but also meet the needs of private-sector enterprises, particularly GSM operators and other ICT industries. Therefore, we hope that Nigeria will secure adequate funding for this initiative.”
This article uses the real-time exchange rate of 1 Nigerian Naira = 0.0183 Chinese yuan.
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