Nick Clegg, former UK Deputy Prime Minister and Meta’s President of Global Affairs, revealed that the Meta-backed deep-sea cable has the potential to generate approximately $37 billion in economic activity across Africa.
This disclosure was made in a statement issued by Ajuri Ngelale, Special Adviser to the President, on Thursday.
According to the statement, President Tinubu received a delegation from Meta Platforms Incorporated, led by Sir Nick Clegg, at the State House in Abuja on Thursday.
During the meeting, President Tinubu emphasized Nigeria’s commitment to staying at the forefront of technological advancements.
He highlighted the importance of seizing opportunities in information and communications technology (ICT), expanding capacity, and fostering partnerships to ensure Nigeria’s competitiveness in the digital age.
Sir Clegg expressed gratitude to the President for issuing an executive order that facilitated the landing of the Meta-backed deep-sea cable in Nigeria.
What he said
- He described the project as “an extraordinary infrastructure project” and outlined its significant features, stating, “When it comes on stream in the first quarter of 2025, it will be twice as much as the capacity of all subsea cables that exist. We buried the cable 50 percent deeper than any other subsea cables under the seabed. It is more powerful and more extensive in terms of its geographical connectivity. It could yield up to $37 billion worth of increase in economic activity in the next two or three years across the African continent.”
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What President Tinubu said
President Tinubu, in light of his administration’s 3MTT programme aimed at training three million Nigerian youths in digital technology and essential skills, underscored the importance of Nigerian youths in achieving digital economic expansion. He emphasized their critical role, stating,
- “For us in Nigeria, we have a vibrant, gifted and resourceful youth population. Recognizing that the future is most likely to be AI-enabled, we must prepare our youths to compete and participate in the global economy.”
President Tinubu further conveyed Nigeria’s readiness to lead the African continent in digital technology and emphasized the value of data in the country’s development.
- He expressed willingness to cooperate on technological advancements, stating, “We are ready to cooperate on technological advancements. It is the only way to go. We need a collaboration that will be a win-win for all.”
Emphasizing the importance of technology in driving small businesses, the President said he is committed to ensuring that technology is deployed, adapted, enhanced, and used to catalyze growth across a vast majority of micro businesses, spurring mass prosperity down the line.
- “What interests me is the use of technology in the development of small businesses. We need to make the business environment more conducive for you and more profitable for us as well. I hope we can collaborate and continue to promote our mutual interests,” President Tinubu told the delegation.
Creators set to earn on Instagram by June
Sir Clegg also announced that Meta will introduce a new feature on its Instagram app in June 2024, allowing Nigerian creators to monetize their content and earn a living through the platform. He emphasized the significance of deepening partnerships with Nigeria, stating, “We have a lot to do with Nigeria to deepen partnerships.”
Dr. ‘Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, highlighted the critical role of Meta platforms in Nigeria and stressed the importance of seizing opportunities for partnerships and engagement to foster development in the digital economy sector. He emphasized the need for continuous engagement to create opportunities for Nigerians to partake in global prosperity.
- “Digital technology is an opportunity to connect Africa to contribute to the development of the world.”
