The Presidency has said Nigeria’s Communications and Digital Economy sector attracted $191m in foreign direct investment in Q1 2024 – a ninefold increase from $22m in Q1 2023. Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, disclosed this during an interview for an upcoming State House documentary marking President Tinubu’s second anniversary. Special Adviser on Information and Strategy to the President, Bayo Onanuga, revealed in an issued statement yesterday, titled: ‘Investment in Digital Economy Grows Ninefold; Rollout Of $2 Bn Fibre-Optic Infrastructure Begins Q4: Bosun Tijani’. Tijani highlighted the…
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Undersea cable damage causes Internet outage in Nigeria
…Telcos, banks hit Telecommunications companies and banks in Nigeria have been hit by an internet outage as a result of damage to international undersea cables supplying them with connectivity. It was gathered that the damage affected major undersea cables near Abidjan in Cte dIvoire and are causing downtime across West and South African countries. The West Africa Cable System (WACS), the Africa Coast to Europe (ACE), Main One, and SAT-3 cables are affected. Some bank networks in Nigeria have been down and unable to process transactions as a result of…
Read MoreFG approves N24.2bn for free Internet at airports, varsities
The Federal Government, yesterday, approved the sum of N24.20bn for the provision of broadband Internet connection in at least 20 airports, 43 schools and six marketplaces nationwide. Minister of Communication and Digital Economy, Prof Isa Pantami, revealed this to State House correspondents after this weeks Federal Executive Council meeting chaired by President Muhammadu Buhari. Dr. Pantami said the selected local and international airports are drawn from the six geo-political zones, with three airports from each on average. The higher institutions of learning and markets that will benefit from the five-month project…
Read MoreStudy reveals Nigeria as having most expensive internet globally
The cost of internet use is so expensive in Nigeria that the country ranks at the very top in a survey of 85 countries of the world. An analysis by Surfshark Press, a United States-based solution provider released Monday, said Nigeria ranks below Columbia and Honduras in terms of internet affordability. Nigeria has the least affordable internet globally. It ranks below Columbia and Honduras in terms of internet affordability, it said. In its methodology, the company said the overall affordability is measured by combining the affordability of the cheapest mobile…
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