Nigeria’s broadband strategy will be a big driver of how large the required investment will be. Bottom-up estimates amount to USD 325 billion over the next 30 years, predominantly consisting of additional mobile base stations and expanding the fibre network to fulfil the broadband vision.
Nigeria needs to spend USD 5 billion annually on ICT infrastructure over the next 10 years, mostly on base stations and fibre. Nigeria needs to invest USD 12.5 billion annually in the sector to boost base stations and fibre, and USD 15 billion annually during 2034–43, with an increasing share of maintenance spend and technology upgrade.
Substantial part of the expected spend is to be provided by the private sector. Therefore, the returns on investment need to be able to sustain large-scale private investments. Further investments in key sectors, especially in the power infrastructure will be required to support the development of competitively priced IT services by bringing down input costs for the sector.
The key investments for public sector will be in computerising the public sector and setting up e-government infrastructure and services.