Nigeria Needs Long-Term Capital to Close Digital Infrastructure Gap — NCC, Swedfund, Ookla

Nigeria needs significantly more long-term capital to close its digital infrastructure gap and keep pace with rapidly rising demand for connectivity, experts have said.

The call was made at the Nigeria Digital Connectivity Investment Forum, organised by the Nigerian Communications Commission (NCC) in partnership with Swedfund and Ookla, which brought together regulators, investors, development finance institutions, operators and other key stakeholders to examine how Nigeria can unlock greater investment in digital infrastructure.

The urgency is underscored by the country’s accelerating data consumption. Nigeria’s growing reliance on digital services, cloud computing, artificial intelligence and online platforms is placing increasing pressure on existing telecommunications and digital infrastructure.

Stakeholders at the forum emphasised that meeting this demand will require financing models capable of supporting infrastructure projects with long investment horizons.

Beyond capital, participants highlighted the importance of reliable electricity, expanded fibre infrastructure, improved connectivity in underserved areas, policy certainty and more efficient infrastructure deployment.

The discussions also reflected the changing nature of Nigeria’s digital infrastructure needs. As cloud services, artificial intelligence and data-intensive applications expand, the country will require not only broader network coverage but also greater capacity, resilience and performance across its digital ecosystem.

For investors, the message is increasingly centred on creating the conditions for patient capital to enter the sector, particularly for fibre networks, data centres, connectivity infrastructure and other critical digital assets.

The collaboration with Ookla also provides access to network-performance and user-experience data that can help identify connectivity gaps and support more informed infrastructure investment decisions.

As Nigeria pushes deeper into the digital economy, stakeholders say infrastructure investment must move beyond short-term expansion and towards a sustained, long-term approach capable of supporting the country's digital ambitions.

The emerging consensus is clear: Nigeria’s digital infrastructure is now economic infrastructure and closing the gap will require capital, policy consistency and investment horizons measured in years, not months.