BY IRIBHOGBE BUKUNOLA MONSURAT
The World Bank has pledged continued support to the 90,000-kilometre fibre-optic cable project being laid across Nigeria.
Anshula Kant, the bank’s Managing Director and Chief Financial Officer, pledged in Abuja on Wednesday during a meeting with President Bola Ahmed Tinubu.
He said the bank was willing to support Nigeria’s efforts to improve its telecommunication services.
Kant said the World Bank was also supportive of Nigeria’s macroeconomic reforms being implemented under President Tinubu’s leadership.
“One of the biggest forthcoming projects we are partnering on is in the digital space, providing broadband access across the country.
“I congratulate the President for embarking on such ambitious macroeconomic reforms and staying the course. These are not easy, but they are already showing strong results,” Kant said.
Wale Edun, the Minister of Finance, who was also at the meeting, described the fibre optic cable initiative as one of the largest of its kind globally.
He said the funding of the fibre optic project was structured through a sustainable and commercially viable financing model.
“It is self-financing and structured to ensure the users of the infrastructure will pay for its services, making it highly viable,” he said.
The minister commended the World Bank for supporting the project.
Dr. Bosun Tijani, the Minister of Telecommunications and Digital Economy, said the fibre project would cross the country to connect every home, office, school, and hospital with access to fibre-based broadband.
“We’re laying 90,000 kilometres of fibre across Nigeria with rings across geopolitical zones and full state coverage. It is about solving connectivity once and for all,” he said.
The minister said the project was being implemented through a special purpose vehicle with funding support from the World Bank and private investors.