Federal Government of Nigeria Seeks Diaspora Investment to Deepen Broadband Penetration

Nigeria’s Minister of Communications, Mr. Adebayo Shittu, has expressed the plan of the Federal Government of Nigeria to employ diaspora investment, as part of efforts to surpass the 30 percent target of broadband penetration by the end of 2018, as contained in the National Broadband Plan.

In a statement made at a press conference in Abuja, Mr. Shittu recognized the wealth of technical expertise and financial resources Nigerians living abroad could contribute to enhance Nigeria’s broadband and telecommunications architecture. Speaking further, the Minister explained that newer technologies were needed in rural communities where investments in huge power generation by existing telecommunications companies might not be justifiable due to the low customer base in the areas.

Thereafter, the Minister informed of the Nigerian Diaspora Direct Investment Summit scheduled to hold in London in April, 2018 which is being organised to encourage investment in broadband connectivity, thereby, creating employment and enhancing the Nigerian economy