Nigeria will needs up to $325 billion to expand her mobile network – National Planning Commission (NPC)
Nigeria will need $325 billion to expand her mobile network infrastructural abilities to reach premium global standards – according to the recently approved the National Integrated Infrastructure Master Plan (NIIMP). This is about 11 percent of the total investment targeted under the 30-year plan.
Under the network expansion plan, the National Planning Commission (NPC) said the broadband fibre -optic network would be considered a top goal. The NIIMP is Nigeria’s plan for accelerated infrastructural development in the sector. It provide the road-map for building world-class infrastructure that will enhance the quality of life of the citizenry and make Nigeria able to take advantage of all chances for sustainable growth and development of the economy.
The master Plan will take stock of existing infrastructures and look for the areas that require urgent infrastructural facilities joining the country’s growth goals. It will also establish sector targets, top goal programmes and critical do able for effective execution.
The Minister of National Planning Commission, Dr. Sulaiman Abubakar said, the fund is a section of the USD 3 trillion National Integrated Infrastructure Master Plan (NIIMP) of the Commission, based on growth strategies as per sector, goal targets and international standards, spread over the long period of 30 years.
From the Plan, Nigeria’s core infrastructural stock size was estimated at a meagre 20-25 per cent of the annual Gross Domestic Product, GDP in 2013 and based on re-based GDP scores in 2014, and the country’s economic growth projections, it was estimated that a total investment of about $3 trillion will be needed over the coming 30 years to build and maintain a global standard infrastructure in Nigeria.
From the investment, the Minister said it is expected that the fund will grow in the next five years annually and that investment in the other sectors will increase, but at lower rates, adding that investment required in ICT sector would not be less than $22 billion in the next five years.