The operators, under the Association of Licensed Telecommunications Operators of Nigeria (ALTON), said much of the money currently funding network expansion and infrastructure development comes from domestic financing, reinvested earnings and other funding channels that are not fully captured by the National Bureau of Statistics’ capital importation framework.

The reaction follows the release of the NBS Capital Importation Report for the first quarter of 2026, which showed that foreign capital inflows into telecommunications dropped from $80.78 million a year earlier to $7.24 million.

According to the report, telecoms accounted for just 0.07% of the $10.37 billion that entered the Nigerian economy during the quarter.

ALTON said the figure presents only part of the investment picture.

“…this metric appears to capture only a portion of the total capital actively deployed within the sector.

“Our industry’s substantial Capital Expenditure (CAPEX) figures suggest that current investment derives from domestic capital sources, reinvested operational earnings – financial mechanisms that may not be fully reflected in conventional foreign capital importation metrics,” the association said.

The group noted that mobile network operators, tower companies and other telecom firms invested about N2.13 trillion in capital projects in 2025. It added that planned capital expenditure for 2026 currently stands at N1.86 trillion.

According to ALTON, the funds are being directed towards network expansion, infrastructure upgrades, technology improvements and measures aimed at strengthening operational resilience.

The association argued that the wide gap between reported foreign inflows and actual spending within the industry points to shortcomings in the current method used to track investments.

To address this, it called for collaboration between the Nigerian Communications Commission (NCC), the National Bureau of Statistics and the Central Bank of Nigeria to develop a comprehensive framework for measuring investment in the telecom sector.

“To ensure Nigeria’s telecommunications sector investment profile is accurately represented, ALTON respectfully proposes a collaborative engagement among the Nigerian Communications Commission, the National Bureau of Statistics, and the Central Bank of Nigeria to develop a more inclusive and comprehensive investment-tracking framework,” the association stated.

Despite pressure from inflation, high costs of operations and foreign exchange challenges, ALTON said operators have always invested heavily to maintain service quality and expand connectivity across the country.

The association also credited the Federal Government’s approval of a 50% tariff increase in 2025 with improving operators’ ability to reinvest in their networks.

“The timely intervention enabled operators to transition from financial distress to a sustainable, growth-focused model characterised by significant capital reinvestment,” it said.

While telecom operators questioned the reported investment figure, the NBS data showed that foreign investors significantly increased their exposure to Nigeria during the quarter.

Total capital importation rose to $10.37 billion in Q1 2026, representing an 83.8% increase from $5.64 billion recorded in the same period last year. Compared with the previous quarter, inflows climbed by nearly 61%.

However, most of the money flowed into short-term financial assets rather than long-term productive investments.

Portfolio investments accounted for $9.86 billion, or about 95% of total inflows, while foreign direct investment stood at just $135 million. Other investments, including loans and trade credits, contributed $374.5 million.

The banking sector attracted the largest share of foreign capital, receiving $7.55 billion, followed by the financing sector with $2.43 billion. Manufacturing drew $152.3 million, while telecommunications received $7.24 million.

The findings also show strong support for regulation, with 83.4% backing restrictions on children’s access to social media.

The survey results were presented in Lagos during a roundtable on child online safety, organised in collaboration with the Nigeria Data Protection Commission (NDPC).

With 585 Nigerians taking part in the consultation, the survey examined risks, enforcement options and possible legal frameworks.

Among the group of respondents, 64.8% want outright regulation, while 18.6% prefer regulation tied to a different minimum age threshold.

Only 16.6% opposed regulation, while 51% said education and digital literacy should be prioritised instead, and 40% pointed to parental supervision tools as a better precaution.

Age preference also split responses, with 36.8% saying 16 years should be the minimum age for access, closely aligning with Australia’s recent approach. Another 27.7% preferred 17 years. A smaller share, 13%, supported the global platform standard for 13 years.

Harmful content emerged as the most reported risk, cited by 90.9% of respondents. Digital addiction followed at 83.6%, while 82.4% pointed to online grooming as a major threat.

The survey also found that 74.5% believe children and parents do not fully understand the legal consequences of cyber offences. Almost all respondents, 97.6%, supported a duty-of-care approach requiring platforms to take proactive steps against harm.

Communications Minister Bosun Tijani said the consultation reveals the pace of change in the digital space and the need for policy to keep up.

He said, “The debate should focus on implementing age restrictions effectively rather than questioning the need for such safeguards.

“Nigeria can deploy digital identity infrastructure and existing platform verification systems to strengthen enforcement of age-based social media regulations.

“The fact that some people may bypass regulations is not a reason for safeguards not to exist.”

Tijani added that social media still offers opportunities for learning and innovation, but children must remain protected from exploitation, harmful content and other risks.

He also said enforcement would require cooperation across government, parents, schools and technology platforms.

NDPC National Commissioner, Dr Vincent Olatunji, also spoke about the risks facing children online. He pointed to cyberbullying, cyberstalking, exposure to harmful content and mental health pressures as key issues.

He also mentioned that access to the internet is highly important for education and development, but protection measures must sit alongside that access. Olatunji described child online safety as a shared responsibility across government agencies, families, schools and platform operators.

The discussion encapsulates a global shift in children’s access to social media. Several countries have already introduced, or are moving towards, better age-based management.

Australia introduced a ban on social media access for children under 16 in December 2025, requiring platforms such as TikTok, Instagram and YouTube to restrict underage users. Indonesia has also announced plans for a similar restriction.

In Europe, Denmark is preparing to ban social media for children under 15. The Danish government secured backing from both coalition and opposition parties in November 2025. France passed a bill in January 2026 banning social media use for children under 15, with President Emmanuel Macron supporting the measure.

These developments show a policy trend where governments treat child online safety as a public concern that extends beyond regulation of content alone. In several cases, it now sits alongside debates on health, education and digital identity systems.

In Nigeria, the proposed direction indicates a combination of age restrictions and verification systems rather than a single enforcement model. Officials have pointed to digital identity infrastructure and platform-level verification tools as possible mechanisms.

The survey indicates strong public appetite for intervention, especially given the level of concern about exposure to harmful content, addiction and grooming risks. At the same time, a smaller but notable group continues to argue for education and parental oversight rather than formal restrictions.

The government says no final decision has been made, insisting that any policy will follow nationwide consultation before implementation.

The Home Office confirmed that universities must now meet higher compliance thresholds if they want to keep sponsoring international students.

Officials say the changes are designed to close gaps in the system while keeping the UK open to genuine applicants.

Under the revised policy, universities will need at least a 90% course completion rate for international students, up from 85%. They must also ensure a 95% enrolment rate, compared with the previous 90%.

A visa refusal rate will also be monitored more closely, capped at below 5%, down from 10%.

These result from issues with how some students use study visas. In the year ending March 2026, 10,835 people who entered the UK on study visas went on to claim asylum.

That is a small share of total student visa holders, but officials say the pattern needs stronger supervision.

The UK issued 409,954 sponsored study visas for international students in the same period. That is lower than the 498,626 recorded in the peak year ending June 2023.

The decline followed earlier restrictions, including limits on dependants for international students.

The Home Office will also introduce a traffic light rating system for universities from summer 2027. Institutions will be placed in green, amber or red categories based on compliance levels.

Green-rated universities will retain full sponsorship rights, while Amber status will bring closer monitoring and reputational warnings. Red-rated institutions will face limits on international recruitment and must fund a 12-month improvement plan.

If they fail to improve, they risk losing the right to sponsor international students entirely.

Minister for Migration and Citizenship Mike Tapp defended the policy direction and said the government still values international students.

“The UK will always welcome genuine international students, and our universities are rightly admired around the world, but our visa system must not be used as a backdoor to asylum and illegal working,” he said.

He added: “Student asylum claims are down 30% in the last year. I thank the sector for their co-operation in achieving this, but we must go further.

“Those seeking to game the system should know we are watching, and won’t hesitate to act.”

The government is currently tracking how different nationalities use study and other legal visa routes. Pakistani nationals accounted for the largest share of asylum claims in the latest reporting period, with many entering through legal visas.

Eritrean nationals were more often recorded arriving through irregular routes, including small boat crossings. Iranian and Afghan nationals also featured prominently in asylum figures.

Nigeria was not among the top nationalities in the most recent breakdown. However, Nigerian asylum applications have grown over time.

Between 2010 and 2024, Nigerian nationals submitted 22,619 asylum claims in the UK. That placed Nigeria 11th among all nationalities during that period.

Applications also surged in recent years, increasing from 1,462 in 2023 to 2,841 in 2024.

Universities are already feeling the pressure from earlier immigration changes. A restriction introduced in 2024 limited international students from bringing dependants. That change contributed to a fall in study visa grants.

The government has also taken targeted steps against specific countries, including suspending study visa routes for nationals of Afghanistan, Cameroon, Myanmar and Sudan at different points due to asylum concerns.

Universities warn that the financial impact of reduced international enrolment is already visible. Higher education institutions rely heavily on overseas tuition fees, which generate about £37 billion annually for the UK economy.

Professor Malcolm Press CBE DL, president of Universities UK, said the sector supports efforts to protect system integrity but warned against instability.

“International students bring significant economic and soft power benefits, contributing £37 billion in export earnings. We want the UK to remain open and welcoming, but that depends on responding quickly to any risks of abuse.

“What universities need from government is policy stability, transparent visa decision-making, and real-time data to act on emerging concerns. 

“The sector relies on international student income, and recent sharp declines have led to substantial cost-cutting and job losses. It is essential that we build a fair, stable, and transparent system that works in the national interest.”

As more Nigerians turn to on-demand delivery services for personal and business needs, Bolt says understanding what can and cannot be sent through Bolt Send is essential to protecting customers, recipients and courier partners.

Bolt Send is designed specifically for package deliveries and is ideal for sending documents, clothing, small gifts, forgotten personal items and small business deliveries.

However, the company has observed instances where customers attempt to send items that fall outside the service’s terms and conditions, creating avoidable risks and delivery challenges.

According to Bolt, customers should not send items valued above ₦50,000, as packages delivered through Bolt Send are insured up to that amount.

The company also prohibits the transportation of illegal items, weapons, drugs, toxic substances, flammable materials, highly fragile goods and highly perishable items.

To ensure a smooth delivery experience, users are encouraged to properly package and seal items before pickup, ensure parcels weigh no more than 25kg, and have packages ready before a courier partner arrives. Accurate pickup and drop-off details should also be provided to avoid delays and delivery issues.

The company noted that by placing an order through Bolt Send, customers agree to the platform’s terms and conditions and share responsibility for ensuring that packages comply with the service guidelines.

“Most deliveries on Bolt Send are completed successfully every day. Following these simple guidelines helps create a safer experience for everyone involved while ensuring the service remains reliable for users who depend on it,” Teddy Appah-Dankyi, Bolt’s Senior General Manager, West Africa commented.

Bolt warned that misuse of the service may result in account restrictions, removal from the platform, or reports to relevant authorities where necessary.

The company encouraged customers to review Bolt Send guidelines before placing an order and to contact customer support if they are unsure whether an item is eligible for delivery.

Cyber threat actors have recently exposed data purportedly from both private and public institutions in Nigeria, underscoring the growing need for stronger cybersecurity frameworks, proactive threat monitoring, and coordinated incident response measures.

But Digital Encode’s advisory highlights a troubling pattern: most recent cyber incidents are not driven by sophisticated zero-day exploits, but by preventable weaknesses in basic security configurations, credential management, and operational controls.

According to the advisory signed by Professor Obadare Adewale Peter, Chief Visionary Officer of Digital Encode Limited, attackers are increasingly exploiting misconfigured systems and publicly exposed assets, such as unsecured databases, open cloud storage buckets, leaked API keys, and critical servers exposed to the internet, many of which are easily discoverable through open repositories, cloud indexing tools, and even dark web marketplaces.

The advisory outlines critical areas of concern, including publicly accessible cloud storage exposing sensitive customer and operational data; hardcoded secrets in web and mobile applications, including API keys and tokens; leaked credentials in repositories and deployment artifacts; weak internal access controls and over-reliance on single authentication layers; exposure of administrative endpoints, API documentation, and development environments in production; uncontrolled use of Third-Party Hosting platforms such as Vercel, Netlify, and Render; poor token lifecycle management and weak authentication, inadequate vendor risk management and monitoring controls

Digital Encode noted that these vulnerabilities are widespread across organizations, particularly in financial institutions, payment service providers, Fintech companies and public sector platforms, where similar exposure patterns continue to recur.

Not a Technology Problem, But an Execution Gap

“Organizations affected in recent breaches were not compromised due to highly advanced attacks, but due to lapses in enforcing existing security controls, like, ensuring that no cloud resources linked to organizations whether AWS S3, Azure Blob, Google Cloud Storage, or Firebase allow anonymous access, Verify that no cloud credentials or API tokens are exposed in public or private repositories, container registries or deployed applications, and all external and internal APIs must enforce authentication and authorization controls at all times” Prof. Obadare stated.

The advisory stresses that most of these risks can be mitigated with readily available tools and best practices, underscoring a critical gap between security policy and implementation.

Urgent Actions Recommended

Digital Encode has called on organizations to act immediately by conducting a comprehensive audit of all internet-facing assets, including third-party systems; revoking and rotating all exposed or potentially compromised credentials including passwords, API keys, and access tokens; reviewing historical logs to assess the extent of any prior exploitation; engaging vendors to address third-party security exposures; fixing identified misconfigurations and validating remediation efforts; strengthening monitoring, logging, and threat detection systems; and documenting remediation steps and residual risks for governance and compliance.

The firm also emphasized the need for improved visibility into shadow IT and unauthorized deployments tied to employees’ accounts, which increasingly serve as entry points for attackers.

Call for Proactive Security Posture

Digital Encode reiterated its commitment to supporting organizations through enterprise-wide security assessments and independent validation of implemented controls.

“We strongly advise that this advisory be actioned without delay,” Prof Obadare warned, adding that proactive security hygiene, not reactive response, will determine resilience in Nigeria’s evolving threat landscape.

Digital Encode Limited is a trusted cybersecurity advisory firm specializing in information security, digital trust, and GRC services. The company supports organizations across sectors in strengthening their security posture and achieving regulatory compliance.

The appointment was announced in a statement issued on Wednesday by Tunde Moshood, Special Adviser on Media and Communications to the minister.

AfDB also confirmed that a Letter of Intent between the bank and Nigeria will be signed during its Annual Meetings in Brazzaville on 28 May 2026.

The programme is designed to enhance Africa’s aviation sector through investment, regulatory alignment and skills development.

AfDB said the selection of Festus Keyamo shows Nigeria’s role in ongoing aviation reforms and its growing influence in regional air transport policy.

In the statement, the bank also set out the funding structure and ambition of the initiative. “This is the Integrated Aviation Transformation Program for Africa (IATP) for which it has earmarked the sum of $7 billion (Seven Billion Dollars),” the statement read in part.

The initiative will draw funding from private investors, institutional capital and concessional sources. AfDB said the aim is to improve connectivity across the continent and make air transport more efficient and competitive.

Africa’s aviation sector is heavily underdeveloped relative to global demand. African airlines account for less than 3% of global air traffic, despite the continent making up close to 18% of the world’s population.

The gap has long been an issue of concern around limited connectivity, high operating costs and weak route integration between countries.

AfDB’s programme focuses on three main areas.

First, it targets the full operationalisation of the Single African Air Transport Market (SAATM), an African Union initiative under Agenda 2063. SAATM is meant to open up African skies, reduce restrictions on air travel between member states and improve regional connectivity.

Second, it aims to strengthen aviation safety oversight and regulatory systems. Many African countries still operate under fragmented safety frameworks, which affect airline performance and investor confidence.

Third, it focuses on developing aviation skills and workforce capacity. The bank said this is necessary to support long-term growth in airline operations, airport management and regulatory institutions across the continent.

Nigeria is one of 34 African countries that have signed up to SAATM. These countries represent more than 80% of Africa’s aviation market.

However, implementation has remained uneven, with slow progress on full liberalisation of air travel between participating states.

AfDB officials said the transformation plan also seeks to improve access to aircraft financing and upgrade airport infrastructure. It is also aligned with efforts to make aviation development more climate-conscious while encouraging private sector participation.

Keyamo’s appointment places Nigeria at the centre of continental discussions on aviation reform. The AfDB said it selected him based on what it described as Nigeria’s policy direction and reform efforts within its aviation sector.

Nigeria has recently pushed changes around airport infrastructure, airline regulation and operational standards, building itself to become a regional hub in West Africa.

The appointment is also expected to strengthen coordination between African states as the AfDB pushes for a more unified aviation market.

Stakeholders have long argued that fragmented air routes and high inter-country travel costs continue to limit trade, tourism and economic integration across the continent.

With the Brazzaville meeting approaching, attention will turn to how quickly member states move from policy commitments to implementation.

The signing of the Letter of Intent is expected to formalise Nigeria’s role in the programme and set out the next phase of engagement between AfDB and participating countries.

Running from May 27 to May 31, part of earnings from rides completed during the campaign period will be donated to SOS Children’s Villages Nigeria to support programmes focused on child care, family strengthening and community support.

The campaign aims to make giving simple and accessible, allowing riders to contribute to the initiative through their everyday trips around the city.

SOS Children’s Villages Nigeria works to ensure children without parental care, or at risk of losing it, grow up with the support, protection and opportunities they need.

Commenting on the campaign, Teddy Appah-Dankyi, Bolt’s senior general manager, West Africa said: “Children’s Day is an important moment to reflect on the kind of support systems children and families need to thrive.

“Through the Rides That Care campaign, we wanted to create a simple way for everyday movement to contribute to something meaningful. We believe even small everyday actions, when multiplied across a community, can make a real difference in supporting vulnerable children and families.”

The campaign also reiterates Bolt’s commitment to supporting communities beyond mobility by leveraging its platform to create positive social impact.

Throughout the campaign period, riders will not be required to take any additional steps or make separate donations, as contributions will be made automatically through eligible rides completed on the platform.

In turning everyday trips into acts of support, the Bolt Children’s Day campaign aims to encourage collective participation in helping vulnerable children and families across Nigeria.

Documents obtained from the World Bank show the cancellation followed a formal request from the Federal Government.

Both parties agreed to discontinue the remaining financing under the Power Sector Recovery Performance-Based Operation after key reform targets failed to materialise.

The decision also brings the programme to an earlier close. Its end date was moved from June 30, 2027, to May 31, 2026.

According to the restructuring document, “The restructuring will result in the cancellation of the entire undisbursed balance in the amount of $717.7 million equivalent, and no further disbursements will be made under the Program following approval of this restructuring.”

The programme was introduced in 2020 as part of efforts to restore financial stability in Nigeria’s electricity sector, improve power supply and reduce the industry’s dependence on government support.

At the start, the World Bank approved about $752.5 million for the initiative. Three years later, after early reforms showed some progress, the bank approved an additional financing package of roughly $763.5 million to extend the programme and deepen reforms across the sector.

Together, both facilities were worth around $1.52 billion.

Still, the additional financing package struggled almost from the beginning.

The World Bank said the fall of the naira after the foreign exchange market liberalisation in June 2023 significantly raised electricity generation costs because gas prices are tied to the US dollar.

More than 70% of electricity supplied into Nigeria’s national grid comes from gas-fired plants.

At the same time, electricity tariffs were largely unchanged for most consumers. Only Band A customers saw tariff adjustments in April 2024.

That gap between high production costs and revenues collected from consumers widened rapidly.

According to the World Bank, tariff shortfalls climbed from N140 billion in 2022 to about N1.9 trillion annually in both 2024 and 2025.

The bank said the growing deficits placed heavy pressure on government finances and weakened the reform programme.

“Due to the mismatch between the electricity generation costs and the sector tariff revenues, the tariff shortfalls increased sharply in the last 3 years, moving from a low of N140bn in 2022 to a high of N1.9tn per year in 2024 and 2025, putting serious pressure on the limited Federal Government of Nigeria’s fiscal space,” the report stated.

The World Bank also pointed to deeper structural problems in the electricity sector, including weak performance by distribution companies, transmission bottlenecks, underused generation capacity, poor cost recovery, and high technical and commercial losses.

Those problems slowed implementation and made it difficult for Nigeria to meet conditions tied to further disbursements.

The bank said authorities failed to establish a credible financing framework capable of reducing tariff deficits over time.

“Recent financing plans have not fully identified sufficient sources of funding to cover tariff shortfalls, nor established a credible trajectory for their reduction,” the report stated.

Even so, the original phase of the programme achieved some measurable results before conditions worsened.

The World Bank said tariff shortfalls dropped by 71% between 2019 and 2022, falling from N581 billion to N166 billion.

Regulatory cost recovery improved from 56% to 94% during the same period, while electricity supplied to distribution companies increased by 13% between 2018 and 2021.

These encouraged the bank to approve additional financing in 2023.

However, implementation later stalled. The World Bank said none of the global indicators tied to the additional financing arrangement were achieved.

It also downgraded implementation progress under the programme to “Moderately Unsatisfactory.”

Financial records in the restructuring document show that only about 9% of the additional financing package was eventually disbursed.

Out of the programme’s total commitment of roughly $1.52 billion, around $796 million had been released before the cancellation, leaving $717.7 million undrawn.

The World Bank concluded that the programme’s structure no longer matched realities in Nigeria’s power sector.

“Taken together, these developments point to a misalignment between the design of the operation and the evolving implementation context,” the report stated.

The cancellation comes days after the Accountant-General of the Federation, Dr Shamseldeen Ogunjimi, warned that Nigeria could reconsider future World Bank loan arrangements if approval and disbursement delays continue.

Speaking during a meeting with a World Bank delegation in Abuja, Ogunjimi said Nigeria should not face long delays in accessing funds tied to development projects because the facilities are loans, not grants.

He said, “If approvals take more than six months, the Nigerian Government may no longer honour such arrangements.”

Ogunjimi also urged the World Bank to speed up approvals and disbursements to support Nigeria’s development priorities.

Minister of Education, Tunji Alausa, announced the initiative on Thursday after meetings held during the Education World Forum 2026 in London.

The Federal Government said it would fully fund 36,000 training licences in the programme’s first year, removing the cost barrier for participants.

Training will cover Artificial Intelligence, Data Science, Cybersecurity, Cloud Computing and Software Engineering, while successful participants will earn certifications recognised by employers globally.

Alausa described the programme as one of the biggest government-backed digital skills investments in the country.

“On the sidelines of the Education World Forum 2026 in London, I signed a landmark partnership with @coursera to launch the Digital Training Academy (DTA), a major initiative designed to equip Nigerian youths with globally competitive digital skills.”

He added: “Through this programme, young Nigerians will receive world-class training in Artificial Intelligence, Data Science, Cybersecurity, Cloud Computing, Software Engineering and other high-demand digital fields, while earning globally recognised certifications valued by employers across the world.”

The minister said the programme supports President Bola Tinubu’s Renewed Hope Agenda, which places attention on youth development, innovation and workforce readiness.

“The Renewed Hope Agenda recognises that digital competency is no longer optional. It is foundational,” Alausa said.

“The Digital Training Academy is a direct investment in helping young Nigerians compete and lead in the global digital economy.”

According to the Ministry of Education, the programme will run in partnership with National Open University of Nigeria and Yaba College of Technology.

The government said NOUN would use its nationwide structure to give students across the country access to the programme, while YABATECH would provide technical support, facilitators and industry-focused mentorship.

“Access to training alone is not enough. What truly changes lives is completion, support and accountability,” Alausa stated.

Officials say the academy forms part of reforms introduced by the government to improve technical and vocational education.

In 2025, the Federal Government revised the Technical and Vocational Education Training curriculum, increasing the focus on practical learning with an 80:20 ratio in favour of hands-on training.

Nigeria also signed an agreement with China last year to strengthen vocational education through technical partnerships and practical training support.

The new academy arrives as demand for digital and AI-related skills increases globally. It also comes at a time when Nigeria faces high youth unemployment and underemployment, pushing more young people to seek technology-related careers and remote work opportunities.

Speaking on the new report focused on Nigeria’s outlook, Chioma Obaro, partner and capital projects and infrastructure leader, PwC Nigeria, said:

“Nigeria already leads the continent’s infrastructure market, with annual spending projected to rise by 77% to $40 billion by 2050, maintaining its number one position in Africa and ranking 23rd globally.”

She added:

“This growth will be shaped by increased investment in transport connectivity, a rapid expansion of power infrastructure, and rising demand for digital and smart infrastructure to support future economic growth.”

PwC noted that power infrastructure will be the fastest-growing sector in Nigeria, with annual spending expected to increase by 187 per cent between 2024 and 2050, rising from $1.1 billion to $3.2 billion.

“Africa is expected to record the fastest infrastructure investment growth globally through 2050, driven by rapid population growth, urbanisation and the need to close long-standing infrastructure gaps,” Obaro said.

Globally, infrastructure investment is entering an unprecedented growth phase, with cumulative spending forecast to reach $151.1 trillion by 2050.

“Across the period, cumulative global investment is forecast to reach US$151.1 trillion, as countries modernise transport, power and industrial systems to meet the demands of AI, electrification and urbanisation,” the report stated.

Annual global infrastructure spending is expected to increase from $4.4 trillion in 2024 to $6.9 trillion by 2050. PwC added:

“In real terms, the forecast suggests global infrastructure spending over the next 25 years will be double that of the past 20 years.”