In a bid to expand its digital infrastructure and strengthen its competitiveness under the African Continental Free Trade Area (AfCFTA), the Federal Government of Nigeria has unveiled the largest fibre optic cable factory and first fibre-reinforced plastic manufacturing facility as a strategic asset for national development.
The plant, built by Coleman Technical Industries Limited in Sagamu, Ogun State, was inaugurated by President Bola Tinubu.
The facility is said to have the capacity to produce up to nine million kilometres of fibre optic cables annually and process about 13,000 tons of copper and aluminum each month.
According to a statement on Tuesday, November 11, the President, who was represented by the Minister of Industry, Trade and Investment, Jumoke Oduwole, described the facility as “a strategic national asset that strengthens the digital backbone of our economy and enhances Nigeria’s competitiveness under the AfCFTA.”
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On his part, the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, said the government’s plan to deploy 90,000 kilometres of fibre nationwide will rely on local manufacturers such as Coleman and be supported by robust local financing partnerships.
The facility is said to be backed by First City Monument Bank (FCMB), the Bank of Industry, and InfraCredit.
Commenting, the FCMB Chief Executive Officer, Yemisi Edun, reaffirmed the bank’s commitment to financing infrastructure that drives economic inclusion and innovation.
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“This facility shows what happens when finance becomes an enabler of national progress. FCMB is proud to be part of a partnership that expands manufacturing capacity, creates jobs, and positions Nigeria as a key player in Africa’s digital future,” she added.
Coleman’s Managing Director, George Onafowokan, said the project will create over 20,000 direct jobs and 200,000 indirect jobs and generate more than ₦1tn in export revenue.
Also, the Ogun State Governor, Dapo Abiodun, said the commissioning marks a major milestone in Nigeria’s digital infrastructure drive.
He believes that local fibre production can close the digital gap, reduce import dependence, and generate thousands of jobs across the manufacturing, logistics, and ICT sectors.
Founded in 1975 as a trading firm in Ikotun, Lagos, Coleman Technical Industries has evolved into Africa’s largest cable producer, serving key sectors including power, oil and gas, and telecommunications.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
