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