Lagos Secures $22M Investment to Expand Fibre Network

Beulah Godfrey

May 20, 2025
2 min read

Lagos State has secured a $22 million foreign direct investment to expand its fibre optic network, aiming to enhance internet access for small and medium-sized businesses across the state. This initiative, facilitated by the Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA), plans to add 2,700 kilometers of fibre ducts to the existing 3,000 kilometers already installed.

As a result, the expansion is expected to improve internet speed and coverage, especially in underserved areas. Since 2023, this effort has enabled over one million new internet subscriptions, allowing more small businesses to operate online, reach customers, and grow their services.

In addition to connectivity improvements, Lagos is advancing its Safe City Project by deploying smart surveillance cameras and traffic management systems in key locations like Alapere and Allen Avenue. Over 450 smart cameras are already in place, contributing to public safety and efficient traffic flow.

Furthermore, the state is constructing four new data centres to boost information storage and technology capacity. By 2025, Lagos aims to complete a 6,800-kilometer fibre optic network, with 3,500 kilometers already finished.

Governor Babajide Sanwo-Olu has highlighted that these investments are part of a broader plan to transform Lagos into a digitally-driven economy that supports innovation and entrepreneurship. In 2023, startups in Lagos attracted over $1.2 billion in funding, accounting for 75% of Nigeria’s total tech investment.

With the new $22 million investment, Lagos reinforces its commitment to building a smarter, more inclusive digital economy, providing small businesses with better tools and opportunities to succeed.