INTRO 

In the period under review, the Honourable Minister attended the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group where, on behalf of Nigeria, he received confirmation of the approval of the Group’s investment into Nigeria’s $2billion Fibre Fund. The Fund will increase the nation’s fibre-optic network from 35,000km to 125,000km, positioning it among Africa’s top three largest fibre infrastructure networks.

KEY FOCUS

Infrastructure: Our commitment to build one of Africa’s largest fibre-optic networks for improved internet connectivity is yielding significant results as Nigeria received approval of the World Bank’s investment into our Fibre Fund. Other Development Finance Institutions (DFIs) including the Africa Finance Corporation (AFC), African Development Bank Group (AfDB), Islamic Development Bank, and Ministry of Finance Incorporated (MOFI) have jointly committed to providing the $2billion needed.

Artificial Intelligence: To consolidate Nigeria’s position as a leader in Artificial Intelligence innovation, the Ministry announced a N2.8billion support from Google as it works collaboratively to accelerate the growth our nation’s digital economy. Amongst other benefits, the grant will, through the framework of our 3MTT programme, also provide 20,000 young Nigerians with advanced technical skills in AI and data science, preparing them for careers in this rapidly growing field.

TIMELINE

WEEK 1

Monday:

• The Honourable Minister travelled to Washington DC to attend the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group. The forum, which brings together government officials, central bankers, and private sector leaders, sets the tone for the IMF and World Bank’s priorities in the year ahead.
• His first engagement at the Annual Meetings was with representatives of the World Bank Group’s Digital Transformation team who outlined their plans for further research and investment in Cloud and Data Hosting opportunities in Nigeria. Nigeria is one of 4 African countries selected as part of this project in recognition of her strategic positioning in Artificial Intelligence and emerging technologies, as well as the availability of digital infrastructure to support the cloud and data hosting services.  

Tuesday:

• On Day 2 of Dr. Tijani’s engagement at the Annual Meetings of the IMF and the World Bank Group, he received confirmation of the approval of World Bank’s significant investment into Nigeria’s $2billion Fibre Fund set aside for the development of 90,000km of fibre-optic cable to boost internet connectivity across the country. The Ministry will share more details of this commitment in the coming weeks.
• Later that day, he had a meeting with the team from Simon Everett Consulting Company, who have been tasked by the United States Trade & Development Agency (USTDA) to conduct an independent review of the proposed Fibre Fund as part of the process of securing their commitment to the project.

WEEK 2

Monday:

• After a short break following his trip to Washington DC, Dr. Tijani attended the Global Innovation Forum (GIF), organised by the International Telecommunication Union (ITU) to discuss the most pressing needs of countries regarding digital innovation. Themed, ‘Shaping our Digital Futures for Prosperity and Well-Being for All’, the Forum was attended by policymakers, development agencies, development banks, and thought leaders in the relevant fields related to digital innovation. It was organised alongside the 2nd Board Meeting of the ITU’s Digital Innovation Board, of which he is a Co-Chair.
• The Honourable Minister’s first engagement at the GIF was to participate in a Ministerial Panel Session themed, ‘Leading towards Prosperity in a VUCA World’. At the session, which was moderated by Dr. Cosmas Luckyson Zavazava, Director, Telecommunication Development Bureau, ITU, he spoke on the benefit of collaboration between public sector, private companies, and civil society towards accelerating progress, and how partnerships can be strengthened to meet specific needs and challenges of member countries. Other speakers at the Ministerial Panel include Enkelejda Muçaj, Deputy Minister of Infrastructure and Energy, Albania; Agnė Vaiciukevičiūtė, Deputy Minister of Transport and Communications, Lithuania; Mondli Gungubele, Deputy Minister, Minister of Communications and Digital Technologies, South Africa; and others.
• Following this, he proceeded to chair the opening session of the Digital Innovation Board for Innovation and Entrepreneurship Alliance for Digital Development. The mandate of the Board is to bridge the digital innovation divide and empower ITU membership to overcome challenges on their path through digital transformation. At the session, they welcomed the newly appointed board members and received updates from the Alliance secretariat on the progress of their objectives since their first meeting earlier in the year. During subsequent sessions, board members further engaged the secretariat on clear actions and steps before obtaining consensus on agenda for the next few months ahead of the close of the meeting.

Tuesday:

• On Day 2 of the GIF, the Honourable Minister featured in a Fireside Chat with the theme: ‘Preparing for the Growth of Startups and SMEs in Globally Connected Markets’. The engaging session was moderated by Marta Arsovska Tomovska, Advisor to the President of the National Assembly of Serbia.