Nigeria to Sign MOU with China on $328m Funding of NICTIB Phase II

Proshare

Sunday, September 02, 2018 4.00PM / Proshare WebTV 

As part of the six (6) day working visit of President Muhammadu Buhari to China this week, Nigeria will sign a memorandum of understanding, MOU valued at $328m for the funding of its National Information & Communication Technology  Infrastructure Backbone Phase II project. 

The funding will be provided by the Chinese Export-Import bank and is consistent with the current administration’s commitment the development of the ICT into national strategic planning, under the Economic Recovery and Growth Plan, ERGP. 

It will achieve a technical partnership and cooperation between the Galaxy Backbone Limited and the Huawei Technologies Limited. 

The paucity of ICT infrastructure in the country has greatly hindered the provision of efficient and affordable ICT services to the citizens. 

With the NICTIB Phase II funding agreement, will boost the prospects for a robust national ICT backbone and Broadband infrastructure, particularly with Nigeria’s quest to drive a digital economy. 

The recent National Bureau of Statistics Q2, 2018 Nigeria GDP report showed the Information and Communication Technology sector grew at 11.6%

 
Proshare Nigeria Pvt. Ltd.

Related News

1.Fmr SEC and FDIC Chairs Join Advisory Board Of Omniex, A Crypto Investment and Trading Platform

2.Cybersecurity Group Avast Valued At £2.4bn In London’s Biggest Ever Software IPO

3.Seismic Foundry FinTech Fund Invests In Second Capital Markets FinTech Firm

4.Why Investing In Fintech Is Viable - Nouriel Roubini

5.Samsung's Credit Profile Sustained Under Leadership Vacuum

6.DFS Lab Announces Investment in Africa Fintech Startups

7.LSE Welcomes Alfa’s £975m To The Main Market, Largest IPO in 2017

8.TA Associates Becomes Minority Investor in Interswitch, Operators of Quickteller

 

READ MORE:
Related News
SCROLL TO TOP