Nigeria is losing an estimated $15 billion every year due to a persistent broadband access gap, according to Lanre Ore, Chief Executive Officer of FibreOne, a broadband service provider.
Speaking on the topic; “Rewriting the Digital Playbook: The Rise of Broadband as a Tech Game Changer”, Ore who spoke through Yinka Isioye, the company’s chief experience officer, at the Titans of Tech Conference 2025 in Lagos, described broadband as “as essential as oxygen” and a critical enabler of modern digital economies, impacting sectors such as education, healthcare, fintech, SMEs, and smart cities.
“Over 60% of Nigerians and more than 70% of Africans still lack reliable broadband access. This exclusion is costing us dearly, in GDP, innovation, jobs, and human potential,” Ore said.
Ore shared a personal anecdote about missing a life-changing opportunity due to poor internet, underscoring the real-world impact of limited connectivity. He pointed out that Nigeria’s internet speeds are 5–10 times slower and up to 4 times more expensive per Mbps compared to developed markets.
Citing the World Bank, he emphasized that a 10% increase in broadband penetration can boost GDP by 1.4% in developed nations. For Nigeria, a 30% increase in broadband coverage could unlock at least $19 billion in value, with a possible GDP multiplier effect of over $45 billion annually.
“The $15 billion we lose yearly due to the broadband gap is nearly four times the nation’s combined health and education budgets,” he said. “That’s equivalent to the yearly federal allocation of an entire state.”
Barriers to Broadband Growth
Ore outlined the challenges stifling broadband expansion as exorbitant fiber rollout costs of $30,000–$50,000 per km due to civil works, RoW charges, security and local levies; unstable power supply, with up to 40% of ISP OPEX going into diesel and alternative energy, and low Average Revenue Per User (ARPU), $10–$20 in Nigeria versus $50 in developed markets, making ROI timelines less attractive to investors.
Despite the hurdles, he praised ISPs and MNOs for continued innovation and investment, and acknowledged government efforts led by President Bola Tinubu and Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, in steering Nigeria toward a digital-first economy.
Ore proposed several bold strategies to close the gap such as mobilizing pension funds and local capital for long-term broadband infrastructure financing; encouraging shared rural fiber consortia and MNO/ISP resource pooling, and promoting community networks, solar-powered micro base stations, and MVNOs for rural delivery.
“Launch ‘Broadband for Jobs’ schemes, offering tax incentives to ISPs delivering discounted access to unemployed youths undergoing digital skills training.
“Broadband is not just about cables; it’s about life-changing connectivity. It empowers education, innovation, inclusion, and national transformation,” Ore concluded.
In his opening address, Don Pedro Aganbi, convener of the Titans of Tech Conference, emphasized the event’s mission as a convergence of government, innovators, and private sector leaders.
“Our goal is to create a platform where policies meet practical insights, and where bold ideas about shaping Nigeria’s digital future can thrive,” Aganbi said.
He described this year’s theme, “Game Changers: Shaping the Future of Technology”, as a call to action for those daring enough to disrupt norms, reimagine solutions, and accelerate Nigeria’s digital transformation journey.
