Digital Infrastructure Critical to Nigeria’s Economic Growth – Taiwo Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has reaffirmed the Federal Government’s commitment to strengthening Nigeria’s digital infrastructure, describing secure connectivity, data sovereignty and locally developed technology as key drivers of economic growth.

Oyedele stated this on Monday during a visit to the headquarters of Galaxy Backbone Limited in Abuja, where he inspected the organisation’s digital infrastructure and received a briefing on its operations, capabilities and expansion plans.

This was disclosed in a statement by the Senior Special Assistant on Communications and Press Secretary to the Minister of Finance and Coordinating Minister of the Economy, Maryann Duke, on Monday.

The minister said digital infrastructure should be regarded as a core economic asset, noting that deliberate investment in connectivity, secure platforms and data infrastructure was necessary to improve government services, support innovation and strengthen Nigeria’s competitiveness.

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“Digital infrastructure is no longer simply a technology conversation; it is an economic and national development imperative,” Oyedele said.

He stressed the need for greater investment in locally developed technology, including software, hardware and digital services, as part of efforts to build domestic capacity and reduce dependence on foreign technology providers.

“We must intentionally invest in connectivity, secure platforms and data infrastructure, while giving greater consideration to Nigerian solutions across software, hardware and digital services,” he added.

Oyedele said the Federal Government’s “Buy Nigeria” initiative presented an opportunity to strengthen indigenous capacity and retain more value within the Nigerian economy.

He also emphasised the importance of data and digital sovereignty to the country’s economic and national security interests.

The minister commended Galaxy Backbone for providing shared digital infrastructure and secure services to ministries, departments and agencies of government.

He also highlighted the organisation’s investments in data centres, cybersecurity capabilities and government digital platforms.

Oyedele assured Galaxy Backbone of the Ministry of Finance’s support and urged its management to strengthen partnerships, expand its services and develop a more sustainable operational model capable of delivering greater value across the different tiers of government.

Earlier, the management of Galaxy Backbone outlined its role in connecting government institutions, protecting public-sector data, facilitating digital services and reducing duplication across government.

The management also sought continued policy and investment support to expand the organisation’s fibre network, data-centre capacity and cybersecurity infrastructure.

The visit was part of ongoing efforts to strengthen collaboration between the Federal Ministry of Finance and strategic public institutions whose operations are considered critical to Nigeria’s economic transformation and the implementation of the Renewed Hope Agenda.