The World Bank has called for a $400 billion investment to achieve universal broadband access by 2030, warning that billions of people remain excluded from the digital economy due to lack of internet connectivity.

In a blog post shared on its official X (formerly Twitter) account on Saturday, the global lender emphasized the widening digital divide, noting that 2.6 billion people were still offline in 2023.

Urgent Need for Public-Private Collaboration

The World Bank stressed that achieving universal broadband access will require strong collaboration between governments and the private sector, as neither can bear the financial burden alone.

“Achieving universal access to broadband will require over $400 billion by 2030, and neither the public nor the private sector can do this alone. Governments need bold reforms, while the private sector can reduce costs, risks, and improve efficiency and innovation,” the statement read.

With the digital economy rapidly reshaping global industries, the World Bank warned that low-income countries like Nigeria risk falling further behind without urgent action to expand internet infrastructure.

Nigeria’s Broadband Expansion Plans

Nigeria is currently working on expanding its fibre-optic infrastructure, with plans to add 90,000 kilometres of fibre-optic cables to its existing 30,000 kilometres.

📡 Funding & Timeline

• The project has financial backing from the World Bank and other financiers.
• Expected to commence early next year.
• Aims to connect millions of Nigerians who remain offline.

With 61% of rural Nigerians lacking internet access, this expansion is seen as critical to bridging the digital divide and ensuring financial inclusion, education, healthcare, and economic opportunities for millions.

Beyond Infrastructure: Digital Skills & Cybersecurity

The World Bank also highlighted the importance of:
✅ Digital literacy programs to equip citizens with skills for the digital economy.
✅ Data protection and cybersecurity policies to ensure safe digital access.
✅ Affordable internet services to encourage higher adoption rates.

With AI and data-driven technologies reshaping economies, the World Bank warned of deepening inequality if urgent action is not taken to boost digital inclusion.

A Call to Action

The World Bank urged governments, investors, and policymakers to prioritize digital infrastructure investments and create enabling policies that support universal broadband expansion.

“As global demand for connectivity grows, failing to act now could widen inequality and limit economic opportunities for millions,” the lender warned.

With the world moving towards a digital-first economy, experts agree that expanding broadband access is no longer an option but a necessity for economic growth, job creation, and global competitiveness.