China Industrial Bank Backs Nigeria Telecom Project

China Industrial Bank (CIB) is supporting Nigeria's Universal Communication Access Project (NUCAP) with a goal to connect over 20 million Nigerians in underserved areas.

NGN Market

Written by NGN Market

·2 min read
China Industrial Bank Backs Nigeria Telecom Project

Nigeria’s Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, announced new support from China Industrial Bank (CIB) for the Nigeria Universal Communication Access Project (NUCAP). This initiative is designed to connect over 20 million Nigerians residing in underserved communities.

Dr. Tijani shared the update following a meeting with a CIB delegation led by Peng Shuang, General Manager of Strategic Emerging Industries Business Headquarters. The project involves the deployment of 3,700 telecommunications towers nationwide, focusing on unserved and underserved areas, including rural and riverine communities lacking reliable connectivity.

The Minister highlighted CIB's commitment to supporting the delivery of at least 1,000 telecom tower sites before the end of 2026. He stated, “I am particularly encouraged by the Bank’s commitment to supporting our ambition of delivering a minimum of 1,000 tower sites by the end of this year, helping to bring connectivity, opportunity, and economic inclusion closer to millions of Nigerians.”

Advertisement

CIB's backing of NUCAP is expected to play a significant role in deepening digital inclusion and expanding access to communication infrastructure across Nigeria. Dr. Tijani described NUCAP as a “wholly green network of modern telecommunications towers that will extend connectivity to these previously unconnected communities, many of them in rural and riverine areas of Nigeria.”

This support from CIB represents the bank's inaugural investment in Nigeria, indicating growing international confidence in the nation's digital economy agenda. Previously, the government had announced plans to build 7,000 telecom towers in rural areas to bridge the connectivity gap.

It remains unclear whether the 3,700 towers planned under NUCAP are part of the 7,000 towers previously announced or a separate initiative.

Tags:Banking

Advertisement

Advertisement