By Lagos State secured a $22 million foreign direct investment to enhance its fibre optic infrastructure.
This investment is a critical step in the state’s ambition to increase connectivity, accelerate digital transformation activities, and support its developing tech scene, according to the State.
Special Adviser to the governor on Infrastructure, Olufemi Daramola, announced the development at a ministerial press briefing to mark the second anniversary of governor Babajide Sanwo-Olu’s second term in office.
Daramola stated that the Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA) is in the vanguard of this project, with plans to expand the State’s fibre network by an additional 2,700km, adding to the 3,000km built by WTES Project Limited.
“To enhance connectivity, LASIMRA has also secured a commitment of $22 million foreign direct investment for quality fibre installations in Lagos State,” Daramola said.
Daramola stated that the investment is consistent with Lagos State’s overall aim to bolster its digital backbone, which has already enabled over one million new internet subscribers between 2023 and 2025.
The ongoing metro fibre network development aims to bridge connectivity gaps in underserved areas, ensuring that more residents have access to high-speed internet, he said.
In March, the state began the second phase of its ambitious 3,300-kilometer metro fibre project, underlining its commitment to digital infrastructure.
Governor Sanwo-Olu also announced plans to expand the fiber-optic network by 1,200 kilometres by 2025, as well as the construction of data centres.
These activities, according to the State, are part of a bigger strategy to establish Lagos as Africa’s top technology hub, which already hosts majority of Nigeria’s tech startups.
