Nigeria has signed a Memorandum of Understanding (MoU) with Swedish telecom giant Ericsson to establish a 5G Innovation Lab aimed at enhancing the country’s digital infrastructure.
The announcement was made by Stanley Nkwocha, spokesman for Vice President Kashim Shettima, during the Vice President’s working visit to Sweden.
Ericsson, a global leader in telecommunications technology and a pioneer in 5G networks, will play a pivotal role in Nigeria’s 5G Innovation Lab. This initiative is expected to significantly enhance the country’s telecommunications network, offering faster internet speeds, better connectivity, and encouraging innovation across various industries.
Vice President Shettima’s two-day visit to Sweden, which began on October 16, 2024, at the behest of President Bola Tinubu, is focused on strengthening bilateral ties, particularly in information and communication technology (ICT), digitalization, innovation, and sustainable transport. High-level discussions have been held with Swedish officials, including Crown Princess Victoria and Prime Minister Ulf Kristersson.
Shettima also met with Norrsken, a venture capital firm based in Stockholm that recently launched Norrsken22, a $205 million fund to support African startups. Approximately 40% of the fund’s investments will target Nigerian tech entrepreneurs, providing essential support to the country’s growing digital economy.