Federal government has said it commence a $2 billion fibre network expansion project in the fourth quarter of 2025.

The initiative aims to enhance the country’s digital infrastructure, boost internet accessibility, and drive economic growth.

Under the project, an additional 90,000 kilometres of fibre optic cables will be deployed, expanding Nigeria’s existing network from 35,000 km to 125,000 km.

This expansion is expected to improve internet connectivity, increase broadband penetration to over 70%, and significantly reduce access costs by more than 60%.

Dr Bosun Tijani, minister of Communications, Innovation, and Digital Economy, stated that the Federal Executive Council had approved the creation of a special purpose vehicle to oversee the project’s implementation and funding.

The government will invest $1 billion directly, while the remaining funds will be sourced through loans and partnerships with organisations such as the World Bank.

This initiative aligns with Nigeria’s broader digital transformation agenda, reinforcing its commitment to becoming a leading digital economy in Africa.

Improved fibre optic infrastructure is expected to drive technological advancements, attract investment, and create job opportunities across various sectors.

By enhancing internet accessibility nationwide, the project will support Nigeria’s growing tech ecosystem, facilitate e-governance, and enable digital inclusion, particularly in underserved rural areas.

The government’s investment in broadband infrastructure is seen as a strategic move to position the country as a regional hub for digital innovation.

The launch of the fibre network project marks a significant step toward closing Nigeria’s digital divide, fostering economic development, and ensuring that more Nigerians have access to affordable, high-speed internet.

MTN Group has reported a 69 per cent decline in full-year earnings, citing the impact of Nigeria’s naira devaluation and operational difficulties in Sudan.

Karl Toriola, chief executive officer, MTN Nigeria

The company with headquarters in South Africa announced on Monday that its headline earnings per share—a key profitability measure fell sharply to 98 cents for the year ending December 31, down from 315 cents in 2023.

The financial downturn was largely attributed to Nigeria’s ongoing foreign exchange crisis, which has led to chronic dollar shortages and multiple currency devaluations.

In a bid to stabilize the naira and attract investment, the Central Bank of Nigeria implemented devaluation measures that significantly affected businesses operating in the country, including MTN.

Rising inflation and high interest rates further exacerbated the situation, increasing operational costs and contributing to the telecom giant’s financial slump.

MTN Nigeria, a key subsidiary of the group, bore the brunt of the economic turmoil. Its pre-tax loss surged by over 200 per cent, reaching N550.3bn ($355.76m).

In response, the company has initiated several measures aimed at restoring profitability, including renegotiating tower leases and implementing a tariff hike, which received regulatory approval in January.

Despite the challenging economic environment, Ralph Mupita, CEO, MTN Group said the company remains optimistic about the recovery prospects in Nigeria.

“That pain which we’ve had for 18 months is abating somewhat,” Mupita stated during a media briefing. “The business is growing very strongly. So, I’m actually very bullish and confident that we’ll see a strong recovery in Nigeria.”

Beyond Nigeria, MTN’s performance in Sudan was also hampered by the country’s ongoing armed conflict.

The unrest led to network impairments totalling 11.7bn rands ($643.40m), significantly affecting operations in the capital, Khartoum, where services had been down since April 2023.

However, the company has reported gradual improvements, with some sites being restored in previously conflict-ridden areas.

Despite the downturn, MTN’s overall group service revenue stood at 177.8bn rand, reflecting a 15 per cent decline.

However, in constant currency terms, the company noted a 14 per cent rise in service revenue, buoyed by growth in data, fintech, digital, and enterprise services, particularly in its home market of South Africa, where service revenue increased by 3.1 per cent.

To reassure investors, MTN declared a final dividend of 345 cents per share and projected a minimum dividend of 370 cents for the 2025 financial year.

While the company continues to navigate economic and geopolitical challenges across its markets, the management said it remains focused on strategic initiatives aimed at stabilizing its operations and ensuring long-term profitability.

The telecom giant said it is actively engaging with regulatory authorities, implementing cost-cutting measures, and leveraging its digital transformation strategy to drive revenue growth.

With confidence in Nigeria’s long-term market potential, MTN said it is optimistic about a turnaround despite the current headwinds.

Galaxy Backbone Limited (GBB), Nigeria’s foremost digital infrastructure and services provider, has unveiled a bold and comprehensive four-year strategic plan (2025-2028) aimed at accelerating the integrated digital transformation Strategy (IDTS) plan for government and businesses in Nigeria.

This strategy is designed to enhance digital service delivery, strengthen connectivity, and support Nigeria’s vision of a fully integrated digital economy.

Developed in collaboration with key stakeholders, the strategy focuses on five core pillars that will drive efficiency, innovation, and sustainability in Nigeria’s digital landscape.

The first focuses on building a Resilient Digital Infrastructure; ensuring that government and businesses have access to secure, high-speed, and scalable digital platforms. By building and maintaining a robust digital backbone, GBB aims to support the nation’s growing demand for seamless connectivity and data security.

The second pillar, Integrated Digital Ecosystems; fosters collaboration between government, businesses, and local communities, creating a more connected Nigeria. Through this initiative, GBB seeks to break silos and establish a unified digital experience that enhances communication, innovation, and service delivery.

To meet the evolving demands of governance and business, the strategy prioritizes Innovative Service Delivery; ensuring that digital solutions are tailored to address economic, social, and administrative needs. By leveraging cutting-edge technologies, GBB is committed to driving efficiency, economic growth, and improved public service delivery.

Now, recognizing the critical role of trust in the digital era, the fourth pillar of the strategy places a strong emphasis on Digital Leadership & Trust. GBB is dedicated to fostering a culture of cybersecurity, transparency, and accountability, ensuring that Nigeria’s digital infrastructure is not only efficient but also secure and reliable.

To sustain long-term impact, the fifth pillar, Financial Sustainability; remains a key priority. By investing in innovative technologies and expanding its digital services, GBB aims to drive revenue growth while ensuring affordability and accessibility for all users.

At its core, this strategic roadmap is designed to enhance government efficiency, boost economic development, and improve the overall digital experience for Nigerians. So, as part of its commitment to achieving these goals, GBB is actively engaging with government agencies, private sector players, and international and local partners to foster collaboration and accelerate implementation.

Through strategic partnerships, the organization is poised to lead Nigeria into a new era of digital excellence, ensuring that businesses and government institutions alike are equipped for the future.

Galaxy Backbone, through its IDTS plan, remains steadfast in its mission to drive Nigeria’s digital transformation through world-class infrastructure, secure connectivity, and innovative solutions that power progress.