Nigeria’s new projects to generate more funds

Nigeria’s new projects to generate more funds
Photo by Zalfa Imani- Ask Nigeria

Nigeria to boost its economy with planetarium, museum, and broadband projects.

In order to generate more revenue and funds for the country, the Nigerian government has intended to launch the operation of broadband internet service, a planetarium center, and a museum, and this will be done through a strategic collaboration with a public-private partnership. According to Dr. Halilu Shaba, the Director General of the National Space Research and Development Agency (NASRDA), he affirmed that the projects would increase staff capability and generate more opportunities for the country.

The broadband internet service will result in a cost reduction while simultaneously increasing the fixed broadband penetration across Nigeria, the Director General explained. He added that the project would help Nigeria achieve its goal of offering low-cost, high-speed, dependable and affordable fixed broadband internet access to about 90 percent of the country’s population. He estimated that the total cost for one gigabyte of data would not exceed N390 (about $0.89 USD) per GB. In accordance with the 2020–2025 National Broadband Plan, this should be achieved by 2025.

The projects will provide educational and entertainment functions.

While speaking about the planetarium and the museum, Dr. Shaba explained that since those projects became functional in 2018, with the goal of providing educational and entertainment functions to Nigerians, they have not yet fulfilled their purpose because the center lacks adequate budgetary allocation. The DG added that Messrs and Atlantic Factorial Nigeria LTD have submitted a proposal to NASRDA to improve, equip, operate, and market the facilities for a concession term of 16 years. More so, Chief Henry Ikechukwu, the Minister of State, Ministry of Science, Technology and Innovation, said that the government would help ensure this partnership works.

When presenting the business case compliance certificate, Senator Dr. Adeleke Mamora, the Minister of Science and Technology, commended the Space Agency’s effort to power such innovations. He made the observation that this type of project was essential to the growth of the nation and encouraged Nigeria to focus technology on providing solutions to various problems the country is facing. Additionally, the minister emphasized that the government could not bear the duty for national growth on its own, and he concluded that this called for a public-private partnership.

More jobs and revenue will be generated from the projects.

Broadband is a type of data transmission that sends multiple signals at a wide range of frequencies and internet traffic types at the same time. This lets messages be sent at the same time and is used to make fast internet connections. The medium can be twisted pair, coaxial cable, wireless internet (radio), optical fiber or satellite. This provides fast internet access that is always available and faster than dial-up over traditional analog or ISDN PSTN services, with download speeds of at least 25 Mbps and upload speeds of at least 3 Mbps. More so, the museum will serve as a tourist attraction and a recreational center as it also generates funds.

A planetarium is a facility with a dome through which pictures of the stars, planets and constellations are projected to educate and entertain the general public. In addition, it is anticipated that the projects, which will be carried out by the National Space Research and Development Agency (NARSDA), will result in more than N48 billion in revenue, the creation of more than 10,000 direct and indirect jobs, assist in the fight against insecurity, and will provide internet access to rural areas.

The projects wouldn’t cost the government any amount.

Furthermore, Senator Dr Adeleke stated that this project would not cost the Federal Government anything because Messrs and Milky Way NIG LTD will manage it. The private proponent and the federal government will each hold a share of ownership ranging from 70 to 30 per cent during the first ten years of the concession period and from 60 to 40 percent during the final five years in addition; the minister would submit the two projects for approval to the Federal Executive Council. This would be done through the Federal Executive Council, and then the Attorney General of the Federation would give the go-ahead for the concession agreement to be implemented.


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Ask Nigeria
1 month ago

Nigeria’s new projects to generate more funds – Nigeria to boost its economy with planetarium, museum, and Broadband projects. – Express your point of view.

Remi1
Member
1 month ago

Broadband is a type of data transmission that sends multiple signals at a wide range of frequencies and internet traffic types at the same time. This lets messages be sent at the same time and is used to make fast internet connection. With the broadband project, among others, more Jobs would be created. It’s a win win

DimOla
Member
1 month ago

More of these kinds of project is what we need as a nation because we need to diversify to be able to generate revenue for other sources rather crude oil alone. Good project want more of these.

theApr
Member
1 month ago

The broadband internet service will result in a cost reduction while simultaneously increasing the fixed broadband penetration across Nigeria. the project would also help Nigeria achieve its goal of offering low-cost, high-speed, dependable and affordable fixed broadband internet access.

Adesanyaj72
Member
1 month ago

During the first ten years of the concession term, the private proponent and the federal government will each hold a stake of ownership ranging from 70 to 30 percent.

SarahDiv
Member
1 month ago

These are nice project but require a system that will make it effective. I should be a system that will reduce/cut off corruption completely.

Chibuzor
Member
1 month ago

This would be accomplished by way of the Federal Executive Council, and after that was done, the Attorney General of the Federation would provide the go-ahead for the implementation of the concession deal.

Bola12
Member
1 month ago

By completing this project, Nigeria will be one step closer to its aim of providing high-speed, reliable, and cheap fixed broadband internet connection to around 90% of the country’s population.

Tolaniiii
Member
1 month ago

Broadband is a sort of data transfer that simultaneously provides several signals at various frequencies and internet traffic types.

Christiana
Member
1 month ago

The dome of a planetarium is used to project images of the night sky, including the stars, planets, and constellations, for the purposes of both enlightening and entertaining the audience.

jdpumping
Member
1 month ago

This is wonderful anything that will put the Nigeria in the positive limelight is a welcome idea,the museum ND broadband services to boost our economy

Tonerol10
Member
1 month ago

The projects will increase staff capability and generate more opportunities for the country. It will also help to grow the economy of our country and also promote cultural tourist

Haykaylyon26
Member
1 month ago

This project will really do a lot of good for us it will help to boost the economy of the country and promote the culture of our country by open up museum where tourist will be taking place so more fund will be coming in and also the broadband internet also which will provide highspeed, reliable and low cost of broadband internet. More revenue will be generated by this projects

Abusi
Member
1 month ago

The projects which are aimed at the planetarium and museum will go a long way in helping the government generate a lot of revenue. This revenues will help to propagate and also promote the cultural heritage of our country. The projects will also aim at Nigeria improving in tourism sector.

Abusi
Member
1 month ago

The projects which are aimed at the planetarium and museum will go a long way in helping the government generate a lot of revenue. This revenues will help to propagate and also promote the cultural heritage of our country.

Adeolastan
Member
1 month ago

Nigeria really need this broadband internet connection service because lots of work is done through internet now and it will reduce cost of internet service and also provide job for the citizen.

Ultra0711
Member
1 month ago

I am more thrilled by the fact that this project will bring the country one step closer to its aim of providing high-speed, reliable, and cheap fixed broadband internet access to almost all of the country’s population.

Kazeem1
Member
1 month ago

The Nigerian government plans to employ a public-private partnership to facilitate the rollout of broadband internet service, the management of a planetarium center, and the opening of a museum.

Godsewill Ifeanyi
Member
1 month ago

The projects would improve the capabilities of the employees and create additional opportunities for the country, both of which would be wonderful for us.

Hassan Isa
Member
1 month ago

This kind of endeavor was critical to the expansion of the nation, and it encouraged Nigeria to concentrate its technological resources on finding answers to the many challenges the country is currently experiencing.