Nigeria and the International Telecommunication Union (ITU) are pushing for global cooperation to address the growing issue of submarine cable disruptions.
These disruptions pose a significant threat to the digital economy worldwide, affecting multiple sectors and economies globally.
At the International Submarine Cable Resilience Summit in Abuja, Minister of Communications, Innovation, and Digital Economy Bosun Tijani emphasized the need for global efforts to prioritize submarine cable resilience.
Tijani noted that Nigeria is committed to strengthening its digital infrastructure and advancing policies that support connectivity, innovation, and economic growth under President Bola Tinubu’s leadership.
ITU Secretary-General Doreen Bogdan-Martin stressed the urgency of safeguarding submarine cable networks, which account for 95% of global digital connectivity infrastructure.
The digital economy has grown exponentially, and Bogdan-Martin projected that it will be worth $16.5 trillion by 2028, outpacing overall global GDP growth.
The summit brought together over 300 delegates from ITU’s 194 member countries to discuss strategies for protecting global undersea cable networks. Key stakeholders, including government representatives, telecom operators, policymakers, and technology experts, attended the event.
Key Takeaways:
-Submarine Cable Disruptions: An estimated 200 incidents occur annually, affecting economies globally and impacting finance, trade, education, health, and governance.
– Digital Economy Growth: The sector is expected to reach $16.5 trillion by 2028, outpacing overall global GDP growth.
– Global Cooperation: Nigeria and the ITU are pushing for global cooperation to address the growing issue of submarine cable disruptions.
– Submarine Cable Resilience: The ITU and Nigeria are emphasizing the need for global efforts to prioritize submarine cable resilience.