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FG gets India’s $100m loan for broadband project

Nigeria gets $100 million loan from the Indian government to boost universal Internet coverage and broadband expansion.

The facility was arranged by the EXIM Bank of India, in collaboration between the India High Commission in Nigeria and the Federal Ministry of Communications.

The deal was facilitated by the immediate past Minister of Communications, Adebayo Shittu, who targets a 70 percent broadband penetration by 2021.

The grant will finance the country’s rural broadband network and deploy masts to complement alternative power sources.

Data from the NCC showed that broadband subscription was 63.2 million, while actual broadband penetration increased to 33.13 percent last month.

Posted: July 16, 2019 12:20 pm



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