Nigeria: Government Seeks Foreign Investors for Broadband Expansion

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The Nigerian Government is seeking foreign investors that would help expand the nation’s broadband network in order to achieve and surpass the targeted 30 percent penetration before year end.

The Minister of Communications, Adebayo Shittu, who disclosed this on Tuesday, in the nation’s capital, while briefing newsmen on the proposed Nigerian Diaspora Direct Investment Information Communication Technology Summit, billed for London, United Kingdom, in April , said Nigeria is now more than ever, a country of huge potential if only it can leverage on ICT.

The Minister added that Nigeria’s over 60 percent Internet penetration means that more than 90 million people would be online in the coming years. While he observed that the country’s tremendous growth is paving the way for a vibrant connected future, rich with opportunities for young entrepreneurs and U.K. investors alike.

Also, the Executive Director of the Nigerian Diaspora Direct Investment Information Communication Technology Summit, Bimbo Folayan, noted that the forum would be dedicated to promoting investments into Nigeria, adding that about 600 businessmen and 100 investors are expected at the summit.