Telecom stakeholders call for more investment in Nigeria’s digital infrastructure

Telecommunications experts in Nigeria have urged for increased investment in the country's digital infrastructure to promote innovation and boost the digital economy. This call came during the Telecom Sector Sustainability Forum held in Lagos, where industry professionals, investors, regulators and technology stakeholders discussed strategies to enhance Nigeria's digital infrastructure.

The discussions centered around the need to revamp Nigeria's digital infrastructure strategy to attract more investments and spur technological innovation. The panelists emphasized that the telecommunications sector has transcended providing basic communication services, now playing a pivotal role in areas such as banking, online shopping, healthcare, education and other digital services.

However, the stakeholders identified a number of obstacles that hinder the expansion of digital infrastructure. These challenges include high infrastructure costs, foreign-exchange pressures, expensive financing, energy costs and inflation. They also stressed the need for stronger local cloud infrastructure, which would enable businesses and organizations to store and process data using internet-based services.

Developing more local cloud facilities, they argued, could bolster Nigeria's digital economy and help keep more data within the country. The stakeholders also underscored the significance of enhancing broadband connectivity. According to data presented at the forum, Nigeria boasts approximately 90 per cent mobile penetration, but broadband penetration is at around 67 per cent, according to the Nigerian Communications Commission (NCC) data.

Despite the advancement, experts maintained that there is still ample room for improvement in Nigeria's digital infrastructure to ensure reliable internet access for more people. They pointed out that a stronger digital infrastructure could stimulate business growth, foster innovation and draw in new investments into Nigeria's technology sector.

Hence, they advocated for collaboration among government agencies, telecommunications companies, investors and technology businesses to build a more robust and sustainable digital infrastructure system. The discussions underscored that digital infrastructure continues to play a crucial role in Nigeria's economic and technological advancement.