According to an article on www.thestandard.com, the World Bank has agreed to commit US$50 million to Information & Communication Technology (ICT) infrastructure development, connectivity, skills development and capacity building in Nigeria.
Says Ismail Radwan, a senior economist with the African Finance and Private Sector Development agency: “The key intervention in Nigeria includes connectivity, infrastructure development and the outsourcing sector.”
The article says that the World Bank hopes to achieve significant transformation in the region through this investment.
The article goes on to state “Nigeria is recognized as the largest ICT market in Africa. With the World Bank funding, however, the country will further consolidate its position as the hub of ICT development and the largest ICT market in Africa, which would attract investment by international telecom companies,”
Nigeria’s continued growth over the next five years is expected to trigger more competition among a growing number of networks in the West African region.”
The bank has to date committed hundreds of millions of dollars to the development of ICT throughout Africa.
Original article can be found HERE.