Lagos Secures $22M Investment for Digital Infrastructure

Lagos State has secured a commitment of $22 million in foreign investment aimed at enhancing its digital infrastructure, which is critical for expanding broadband access and reinforcing its status as Nigeria's technology capital. This investment will support the expansion of the fiber optic network, a key component of the state's ambitious technology-driven development agenda.

Olufemi Daramola, the Special Adviser to the Governor on Infrastructure, stated that the investment will facilitate the deployment of approximately 30,000 kilometers of fiber duct across strategic routes in Lagos, significantly increasing the existing fiber infrastructure by roughly 3,000 kilometers. This expansion is expected to improve broadband penetration and alleviate connectivity bottlenecks, laying the foundation for increased deployment of digital services across various sectors of the economy.

Additionally, the Lagos State Infrastructure Maintenance Regulatory Agency (LASIMRA) has recorded a sharp rise in revenue over the past year, driven by improvements in regulatory compliance and the development of an automated telecom infrastructure registration system.