The Presidency on Monday announced that Nigeria’s Communications and Digital Economy sector attracted $191 million in foreign direct investment (FDI) in the first quarter of 2024—up nearly ninefold from $22 million in the same period last year. Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, revealed this during an interview for an upcoming State House documentary marking President Tinubu’s second anniversary.
According to a statement by the President’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, the sector’s growth is underpinned by workforce development and planned infrastructure expansion.
Tijani highlighted the success of the Three Million Technical Talent (3MTT) programme, launched in October 2023, which has trained over 117,000 Nigerians in digital skills—already exceeding initial targets and progressing toward its 3 million goal.
Looking ahead, the government plans a $2 billion initiative, Project Bridge, to deploy 90,000 kilometers of fibre optic infrastructure nationwide starting in Q4 2025. This investment aims to improve affordable, high-quality connectivity for all Nigerians, with projections that a 10% increase in connectivity hubs could boost GDP growth by 2.5%.
“We are committed to long-term reforms that will transform Nigeria’s economy for generations,” Tijani said.
The Minister also celebrated Nigeria’s ranking among the top 60 countries globally for AI readiness and highlighted initiatives such as the AI Collective platform, government-backed AI research funding, and efforts to attract $5 billion in startup investments through the Nigeria Startup House in San Francisco.
Additional plans include deploying 7,000 telecom towers to achieve 98% nationwide coverage and resolving Right-of-Way challenges, with 12 states adopting zero-rated policies to support the National Broadband Plan’s goal of 90% broadband penetration by 2025 (up from 48% in 2024).
Tijani projected the digital economy’s GDP contribution to rise from 16% to 22%, emphasizing technology’s role in bridging the gap between government and citizens.
