The Nigerian federal government has approved the injection of ₦265 billion ($732 Million), to expand broadband penetration across the 774 local governments. This will be done as a partnership between six private infrastructure companies and the administration.
This endeavor will provide coverage across the nation giving urban and rural areas connectivity to the internet and other valuable attributes that come with fast and affordable access to information.
The government plans to add 30,000 kilometers (19,000 miles) of fiber across the nation bringing the total roll-out of fiber to 71,0000 kilometers by 2024.
How will this impact the real estate sector?
By connecting people and business to the world wide web, will make huge impacts on the daily lives and activities of Nigerians.
Hospitals and clinics will now have access to vital information and data that can mean the difference between life and death.
Local traders can now add a point of sale system that will immediately, and positively impact their revenue.
Real estate owners can add their listings to the internet with ease and thus get buyers and or renters within minutes.
Umar Danbatta — the CEO of the Nigerian Communications Commission, stated that “there will be data everywhere in the country and it will be cheap.”
This is a win-win for everyone.