The Lagos State government has attracted approximately $22 million in Foreign Direct Investment (FDI) commitments to support the expansion of digital infrastructure across the state, strengthening its position as Nigeria's leading technology and innovation hub.
Investment Details
The investment, secured through the Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA), is expected to accelerate the rollout of fibre optic infrastructure and boost broadband penetration, digital inclusion and smart-city development initiatives.
The Special Adviser to the Governor on Infrastructure, Engr. Olufemi Daramola, disclosed the development during the 2026 Ministerial Press Briefing in Alausa, Ikeja. According to him, the agency attracted foreign direct investment commitments valued at about $22 million towards the deployment of high-quality fibre optic infrastructure across Lagos.
Strategic Expansion
The investment forms part of a broader strategy to strengthen the state's digital economy and support technology-driven growth in Africa's largest commercial city. Daramola said LASIMRA facilitated additional investments for the deployment of about 30,000 kilometres of 28-way fibre duct infrastructure along strategic corridors across the state, building on approximately 3,000 kilometres of fibre infrastructure previously delivered.
He said the infrastructure would improve internet connectivity, enhance broadband access and support businesses operating in the state's rapidly expanding digital economy.
Revenue and Regulatory Improvements
Beyond attracting foreign capital, Daramola said LASIMRA recorded a 300 per cent increase in revenue generation during the review period, driven by improved permit processing systems, stronger regulatory compliance and digital workflow platforms.
He added that the agency is also advancing the Automated Telecom Infrastructure Registration System (TIRS), a technology-driven platform designed to automate infrastructure registration, improve compliance monitoring and speed up permit approvals for telecommunications operators.
Smart-City Initiatives
“As part of its smart-city agenda, Lagos has deployed Geographic Information System (GIS) technology for mapping and monitoring fibre routes, telecommunications masts and towers, while also advancing the rollout of 5G-enabled smart poles across the state,” he said.
Daramola said the initiatives were aimed at creating a resilient and future-ready digital infrastructure ecosystem capable of attracting further investments, stimulating innovation and supporting sustainable economic growth.
