The Australian Government has announced a significant AU$3 billion equity investment in the National Broadband Network (NBN) to upgrade existing fibre to the node (FTTN) connections to full fibre to the premises (FTTP).

Communications Minister Michelle Rowland emphasized the critical need for reliable internet, noting that the NBN currently handles over 80% of the country's internet traffic.

Prime Minister Anthony Albanese highlighted the importance of this rollout for strengthening Australia's national network and ensuring affordable high-speed internet for all citizens.

The upgrades will allow approximately 95% of properties currently connected via FTTN to voluntarily switch to full fibre, with the remaining 5% requiring further design assessments.

Although the initial build of the NBN was completed in 2020, these upgrades are crucial for improving internet services, particularly for users on outdated copper connections.

Notably, over half of the affected properties are located in regional Australia, underscoring the government's commitment to enhancing connectivity in these areas.

In addition to the government's investment, NBN Co will contribute an extra AU$800 million towards these upgrades, further enhancing the network's performance.

Looking ahead, the government plans to introduce legislation in February 2025 to maintain the NBN in public ownership, ensuring continued public access to this essential infrastructure.

This investment aims to enhance internet access for over 620,000 homes and businesses, with a particular focus on regional areas that have been underserved.

Rowland also pointed out that the outdated copper network is degrading at an estimated rate of 4% per year, making immediate upgrades essential.

The upgrade process is set to commence immediately, with completion expected by the end of 2030.

NBN Co CEO Ellie Sweeney noted that the upgrades will impact about 2,400 suburbs and towns, addressing the increasing data consumption among Australians.