The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has said the digital economy witnessed growth under the administration of President Bola Tinubu.
He said this was with foreign direct investment (FDI) in the sector soaring to $191 million in the first quarter of 2024—up from $22 million in the same period last year.
Tijani made this disclosure in an interview for an upcoming State House documentary marking Tinubu’s second year in office.
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Tijani revealed that the country is set to roll out a $2 billion fibre optic infrastructure project—known as Project Bridge—in the fourth quarter of 2025.
The initiative aims to deploy 90,000 kilometres of fibre optic cable across Nigeria to expand access to high-speed, affordable internet.
“These foundational reforms, coupled with advancements in artificial intelligence and the startup ecosystem, have positioned Nigeria as a global leader in the digital economy,” Tijani stated.
He noted a continued upward trend in investment, citing Q2 2024 FDI figures of $114 million—up from $25 million in Q2 2023.
Tijani highlighted the achievements of the 3 Million Technical Talent (3MTT) programme, launched in October 2023, which has already trained over 117,000 Nigerians in digital skills—far exceeding its initial target of 30,000.
An additional 35,000 trainees are currently enrolled, pushing the programme close to achieving 10% of its 3 million target.
On connectivity, Tijani said: “We are preparing a $2 billion investment to ensure every Nigerian can access affordable, high-quality connectivity regardless of location. Increasing connectivity hubs by just 10% could yield a 2.5% growth in GDP.”
He also celebrated Nigeria’s inclusion in the world’s top 60 countries for AI readiness and noted progress in developing a homegrown large language model (LLM).
The AI Collective platform, supported by global tech giants such as Google, Microsoft, and Pierre Omidyar’s network, was launched to drive AI innovation and collaboration.
For the first time, the ministry has provided funding for 55 academic researchers to explore tech solutions in agriculture, healthcare, and education.
In addition, ₦300 million was invested in 10 startups using AI and blockchain to boost agricultural productivity.
Speaking at the Nigeria Startup House in San Francisco, Tijani said the project aims to attract $5 billion in investment into Nigerian startups.
Backed by the Startup Pact and Trade Desk initiatives, the goal is to connect local tech companies to global opportunities and procurement channels.
The Minister also revealed that over 500 government technologists have been trained in AI and Digital Public Infrastructure (DPI), while the landmark Digital Economy Bill has passed its first reading in the National Assembly.
To close the rural connectivity gap, Tijani announced that 7,000 telecom towers would be deployed nationwide, targeting 98% coverage.
He added that the Federal Executive Council (FEC) has approved the project.
He described progress on Right-of-Way reforms as a ‘game-changer’, with 12 states adopting zero-cost Right-of-Way policies to support infrastructure development.
According to the Minister, these initiatives will help achieve the National Broadband Plan’s goal of 90% penetration by 2025, up from the current 48%.
Tijani projected that the sector’s contribution to GDP would rise from 16% to 22%.
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He noted: “If a sector can increase its contribution by three to four per cent to GDP, we’re about to witness economic growth like never before. Technology allows us to bridge the gap between governments and the people.”
He stressed that the government is focused on long-term transformation.
“We are not chasing quick wins. The results we want to provide for Nigeria are long-lasting reforms that will transform our economy for generations to come.”
