Dimension Data has said that the proceeds from its Series 1 corporate bond, will support the expansion of the company’s fibre infrastructure to meet Nigeria’s growing demand for digital connectivity.

This followed the successful subscription of the corporate bond.

Recall that Dimension Data Limited said that it has completed the signing ceremony for the issuance of N4.05 billion (approximately US$2.9 million).

This sum marks the first tranche of a N20 billion (US$14.7 million) bond programme announced earlier this year.

The bond programme was raised under Dimension Data SPV Funding Plc, following approval from the Securities and Exchange Commission (SEC) of Nigeria.

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The company says the proceeds will support the expansion of the company’s fibre infrastructure to meet Nigeria’s growing demand for digital connectivity.

Speaking at the ceremony, Olugbenga Olabiyi, managing director of Dimension Data Limited, said the investment reflects the company’s long-term commitment to strengthening Nigeria’s digital economy.

The planned investments will fund the continued expansion of Dimension Data’s fibre network, supporting increasing demand from financial institutions, fintechs, enterprise customers and other technology-driven sectors.

Founded in 1983 and headquartered in Johannesburg, the company has grown its footprint across the Middle East and Africa.

Today Dimension Data is a member of the NTT Ltd Group, one of the world’s leading technology companies.

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As cloud adoption, digital financial services and data-intensive applications continue to grow, the company believes resilient fibre infrastructure will remain a critical enabler of Nigeria’s digital economy.

The Federal Government has announced that work will commence within weeks on a 90,000-kilometre fibre optic network expected to connect every state, local government area and ward in Nigeria, marking what officials describe as one of the country’s most ambitious digital infrastructure projects.

Dr Bosun Tijani, Minister of Communications, Innovation and Digital Economy, disclosed this on Tuesday after briefing President Bola Tinubu at the State House, Abuja, on the progress of three flagship digital transformation initiatives being implemented by his ministry.

According to the minister, all resource mobilisation and contractual processes for the nationwide fibre project have been completed, paving the way for physical deployment.

“We’re now at the point where, in a few weeks’ time, we should start to lay those fibre, so people will start seeing us around the country deploying the fibre. This is going to transform Nigeria for good,” Tijani said.

He explained that the project would deliver fibre optic infrastructure to every geopolitical zone, state, local government area and ward, significantly expanding broadband access and improving the quality of internet connectivity across the country.

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“This is a project where every state, every geopolitical zone, every local government and every ward in this country will be covered with fibre optic cables, which will transform the quality of connectivity,” he added.

Bosun Tijani attributed the progress in the digital economy to a series of reforms approved by President Tinubu, including the designation of digital infrastructure as Critical National Infrastructure, tariff adjustments and tax harmonisation measures sought by industry operators.

“I think our sector has been extremely fortunate. Mr. President has given us quite a number of things that the sector has been demanding for a long time. Whether it’s the Critical National Infrastructure designation for all digital infrastructure, the slight adjustment in tariff, or the tax harmonisation, these are reforms the industry has long requested.

“I think it’s probably the sector that is most appreciative of this government because when we came in, the sector was contributing between 16 and 18 per cent to our GDP, but today it is tracking close to 21 per cent. That represents significant growth,” he said.

The minister noted that the reforms had also improved the financial performance of major operators in the telecommunications sector.

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On efforts to bridge the digital divide, Tijani disclosed that the government would begin deploying about 3,700 telecommunications towers from October to provide network coverage for more than 20 million Nigerians currently living in underserved communities without access to telecom services.

He said the President had approved the project after months of capital mobilisation and planning.

“Today we’re at a point where, before the end of the year, we’ll also start to deploy close to 3,700 towers. It’s taken a lot to put this project together and raise the required capital, but we are now ready to begin deployment around October,” he said.

The minister also announced that Nigeria would officially launch an alphanumeric postcode system on October 1, a move he said would place the country among a select group of nations operating an advanced digital addressing system.

“Nigeria will be amongst maybe 10 or 15 countries in the world with an alphanumeric postcode. It’s the latest design in postcode systems, where we can identify every property in this country. We’re hoping to launch that on the 1st of October,” he said.

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Tijani explained that the new system would assign a unique address to every property nationwide, enhancing logistics, accelerating e-commerce, improving emergency response and strengthening public service delivery.

“Inability to locate places comes at a cost. You can imagine what this will do for e-commerce. It means goods can now be delivered in record time,” he said.

He added that integrating the postcode system with existing government identity databases would improve security and make public services more efficient.

“Our alphanumeric postcode is unique because it allows us to assign a unique address to every property. In many countries, such as the UK, postcodes cover clusters of buildings. What we are introducing will uniquely identify every building, and that will be a game changer for Nigeria in terms of security, commerce and public service delivery,” the minister stated.

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National Information Technology Development Agency (NITDA) has reaffirmed the Federal Government’s commitment to building an inclusive, innovation-driven artificial intelligence (AI) ecosystem, with a strong focus on empowering Micro, Small and Medium Enterprises (MSMEs) to harness emerging technologies for economic growth.

DG NITDA’s rep, Director Digital Development Services, Mr Oladejo Olawunmi, giving his goodwill message at the Official Launch of the ESBC/Innopower Free MSMEs AI Training Programme held in Abuja .

The Director-General of NITDA, Kashifu Inuwa, made the commitment at the launch of the ECOWAS Small Business Coalition (ESBC)-INNOPOWER Free MSMEs AI Master Trainer Programme held at the United Nations House in Abuja.

Represented by the Director of Digital Development Services, Mr. Oladejo Olawunmi, Inuwa described artificial intelligence as a transformative technology that is reshaping economies, industries and governance across the world.

He said the launch of the programme reflected a shared commitment by stakeholders to equip MSMEs with the knowledge and skills required to thrive in an increasingly AI-driven economy.

According to him, artificial intelligence is no longer a technology of the future but a defining force of the present, creating opportunities for countries that invest strategically in innovation, digital infrastructure and human capital.

Inuwa said Nigeria was implementing its National Artificial Intelligence Strategy to strengthen AI infrastructure, build a world-class innovation ecosystem, accelerate AI adoption across critical sectors, promote responsible AI development and establish a governance framework that ensures the technology benefits society.

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He said the country had made a deliberate decision to become an active contributor to the global AI ecosystem rather than remain a passive consumer of technologies developed elsewhere.

The NITDA boss highlighted several government initiatives aimed at strengthening Nigeria’s AI capabilities, including the National Centre for Artificial Intelligence and Robotics (NCAIR), the Nigeria AI Collective, the N-ATLAS multilingual large language model, the Digital Literacy for All (DL4ALL) programme and the 3 Million Technical Talent (3MTT) initiative.

He said the programmes were designed to build indigenous AI capacity, expand digital literacy and prepare Nigerians for opportunities in the digital economy.

Inuwa described MSMEs as the backbone of Nigeria’s economy, noting that wider adoption of artificial intelligence would enable small businesses to improve productivity, automate business processes and access new markets.

He stressed that Africa’s success in the AI era would depend on sustained investments in talent development, digital infrastructure and strategic partnerships.

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“The countries that lead the AI economy will not be those that consume the most AI solutions, but those that cultivate talent, build infrastructure and create ecosystems where innovation can flourish responsibly,” he said.

The Director-General commended INNOPOWER and the ECOWAS Small Business Coalition for providing a platform that would advance responsible AI adoption, strengthen collaboration and empower entrepreneurs across Nigeria and the ECOWAS region.

He also emphasised the need to develop sovereign digital infrastructure, preserve indigenous languages in AI systems and expand digital literacy to ensure that every Nigerian benefits from the country’s digital transformation.

According to him, Africa is at a defining moment in its technological evolution and must seize the opportunity to become a creator of AI solutions capable of competing globally.

Earlier, the Regional President of the ECOWAS Small Business Coalition, Dr. Abdulrashid Yerima, described the MSME AI Master Trainer Programme as a strategic investment in Africa’s human capital.

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Yerima said the initiative was designed to equip trainers with practical artificial intelligence skills that would enable them to support entrepreneurs and strengthen MSMEs across the region.

He expressed confidence that the programme would expand economic opportunities, create quality jobs and promote sustainable industrial development.

He also called for stronger collaboration among governments, development partners, financial institutions, academia and the private sector to build an AI-driven economy capable of enhancing Africa’s competitiveness and delivering inclusive economic growth.