Over the previous 5 years, the Lagos State authorities has attracted greater than $1.2 billion in digital investments to strengthen its digital financial system and develop its telecom infrastructure.
Governor Babajide Sanwo-Olu disclosed this on Friday throughout a courtesy go to by the Nigerian Communications Fee (NCC) delegation led by its Govt Vice Chairman and Chief Govt Officer, Aminu Maida, on the Lagos Home, Ikeja.
Sanwo-Olu acknowledged that the fund prior to now 5 years was utilized in funding information facilities, submarine cables, and increasing the digital community.
“We now have it on report that inside 5 years of our administration, we’ve got attracted investments in extra of about $1.2 billion instantly into the digital area round constructing information centres, hyper-scale information centres, touchdown submarine cables, and making a community of customers and suppliers,” he acknowledged
The governor reaffirmed his administration’s dedication to strengthening digital infrastructure by means of collaboration with NCC.
Strengthening digital infrastructure
The governor reaffirmed his administration’s dedication to strengthening digital infrastructure by means of collaboration with NCC.
- He emphasised that this collaboration aligns with the Training and Expertise pillar of his administration’s THEMES+ agenda. He acknowledged that the investments in digital infrastructure will likely be additional bolstered by means of this partnership with NCC.
- He assured that the federal government is dedicated to working with NCC to guard crucial telecom infrastructure and advance the digital financial system to profit Lagos residents.
The Govt Vice Chairman/CEO of NCC, Aminu Maida, counseled Governor Sanwo-Olu for his developmental strides in telecommunications, know-how, and the digital financial system.
- He highlighted Lagos as a key companion for NCC in making certain digital infrastructure safety and facilitating ease of telecom operations.
“Lagos is a strategic companion with NCC, therefore the necessity for collaboration to guard digital infrastructure, problems with Proper of Method, satisfactory notifications throughout highway development and rehabilitation, amongst others,” Maida acknowledged.
He additional famous that President Bola Tinubu signed an Govt Order in July 2024 to guard key infrastructure nationwide, urging steady efforts in safeguarding digital infrastructure throughout Nigeria.
What you must know
Lagos State has been implementing strategic initiatives to reinforce its digital financial system. The state outlined plans to extend the tech ecosystem’s contribution to its GDP from 3% to 10%, together with the creation of a fund-of-funds to co-invest with enterprise capitals in Lagos-based tech startups.
Equally, ongoing expansions of knowledge facilities in Lagos, significantly in Lekki and Eko Atlantic, are projected to spice up town’s financial system by as much as $7 billion.
The Lagos State Ministry of Innovation, Science, and Expertise accomplished the primary section of a venture to cut back web connectivity prices in Could 2024. This section concerned laying 2,700 kilometers of fibre ducts throughout the state, with a second section deliberate so as to add a further 3,300 kilometers to reinforce web accessibility and affordability for residents.
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