FG, BoI Endorse Coleman’s $100m Fibre Optic Cables Project
Key agencies of government and the United States Embassy in Nigeria, have lauded Coleman Wires and Cables and Corning Inc. U.S.A over the $100million optic fibre cable.
The project located in Arepo, a suburb in Ogun State, Nigeria, is the first in Sub-Sahara Africa.
The quartet of Federal Ministry of Industry, Trade and Investment (FMITI), Bank of Industry (BoI), Federal Ministry of Communications and Digital Economy, and the Nigerian Content Development and Monitoring Board said that the multi-million dollar Coleman wires and cables optic fibre cables, ad put Nigeria on a platter of gold globally in the comity of nations in the manufacturing of optic fibre cables.
The commissioning of the $100 million optic fibre manufacturing cables factory in Nigeria, which is the first in West and Central Africa and fifth in Africa, was a milestone tetestamenthat Nigeria’s quest towards industrialisation in the digital economy was not a fluke, but must be unanimously supported in the mission to achieving national development momentum.
The agencies emphasised that the multi-million dollar first fibre optic cables in West and Central Africa and 5th in the continent were wawereotivated by President Muhammadu Buhari’s call for rapid development of digitalization penetration in the Nigerian Economy and the drive for Local Content Development in the country’s capacity building driven by the Local Content Board (NCDMB).
Speaking at the commissioning of the project in Arepo, the Minister of FMITI, Adeniyi Adebayo said the Coleman multi-million dollar fibre optic cables project was historic in the country’s history and expressed optimism it was happening during President Muhammadu Buhari’s administration.
Represented by the Director of Industrial Development Department at FMITI, Adewale Baker, the Minister stated that government would continue to build infrastructure capacity and create a conducive environment for local manufacturers to thrive and navigate out from the current turbulent challenges facing manufacturing sector and the economy in general.
Also, the Managing Director of BoI, Olukayode Pitan said that BoI was glad for the commissioning of the Coleman multi-million dollar first fibre optic manufacturing cables in West and Central Africa.
Pitan, who was represented at the occasion by Simon Ararorun, the Executive Director, Large Corporation, stated that BoI supported the Coleman optic fibre cables manufacturing project 100 per cent, with other financial institutions and Coleman had been paying its loan as at when due on the project.
The Executive Secretary, NCDMB, Simbi Wabote, commended President Muhammadu Buhari for providing the adequate security towards the completion of the Coles multi-million dollar first fibre optic cabin in West and Central Africa.
Wabote, who was represented by the General Manager Projects, Certification and Authorization, Paul Zuhubemof, said it was a dream comes through for Nigeria.
The Direcome Fibre Business, Europe, Middle East and Africa, Corning Inc USA, Steve Candler stated: “There is a huge opportunity for combroadbanding in Nigeria and neighbouring countries arising from rising demands for broad band’s services driving by changes In how it works, entertain ourselves and communicate with each others. The pandemic has accelerated the demean other people to work from home remotely and e-commerce as well as streaming of high video contents which is driving increase broad band development in homes and businesses.”