The Federal Government has started providing broadband infrastructure for Micro, Small and Medium Enterprises (MSMSEs) across the six geopolitical zones of the nation as well as for 18 higher education institutions.
The Minister of Communications and Digital Economy, Prof. Isa Pantami, stated that it was intended to support the current administration's economic initiatives across a range of industries during the initiative's debut on Thursday in Abuja.
After the minister's presentation, he claimed that the Federal Executive Council had given its approval to the project, which would be carried out by the Nigerian Communications Commission (NCC).
He added that this will hasten the spread of broadband in Nigeria and boost plans for the development of the country's digital economy.
He claimed that increasing information access and digital connectivity were essential factors in boosting the economy.
He claimed that the World Bank put the percentage of people with access to the internet globally at 75%.
"This will result in an addition of up to $2 trillion dollars per year to world GDP and a creation of about 140 million jobs.
“Similarly, a report by the Information Technology and Innovation Foundation states that 80 per cent of economic benefits in developing countries are due to the use of ICTs and digital skills.
“In developed countries, it is even higher at 90 per cent.”
According to Pantami, various economic sectors in Nigeria have been impacted by the digital economy.
The minister added: “You will recall that the digital economy of Nigeria played a key role in stabilising and growing other sectors of our economy.
“The ICT sector also enabled Nigeria to exit the recession triggered by COVID-19, a year earlier than predicted by experts.
“In particular, the ICT sector grew by 14.70 per cent in the last quarter of 2020 and was the only sector that grew by double digits in this quarter and in the entire year 2020.”
Pantami reaffirmed the need for digital connectivity, access, and skills for both developed and developing nations' human and economic growth.
He mentioned the University of Lagos, College of Education (Special), Ibadan, and Obafemi Awolowo University, Ile-Ife, as the tertiary institutions that would benefit.
Others included Nnamdi Azikiwe University in Awka, Federal University of Technology in Owerri, and University of Nigeria in Nsukka.
The University of Calabar, University of Benin, University of Port Harcourt, Ahmadu Bello University, Zaria, Bayero University, Kano, Umaru Musa Yar'Adua University, Katsina, Borno University, and ATBU, Bauchi made up the remaining universities.
The University of Abuja, University of Ilorin, Federal University of Technology, Minna, and Gombe University were the others.
Omatek Ventures Plc is a Nigeria-based holding Company that was founded in 1988 ...LEARN MORE
Airtel Africa is a leading provider of telecommunications and mobile money servi...LEARN MORE
CWG Plc, formerly Computer Warehouse Group Plc was founded in 26 September 1991,...LEARN MORE