FG Targets $1.2bn Private Investment for 90,000km Fibre Network

The Federal Government is targeting at least $1.2 billion in private-sector investment for its planned 90,000-kilometre nationwide fibre-optic network, as Project BRIDGE moves towards physical deployment in October.

The $2 billion project has secured $800 million in sovereign financing from development partners. The package comprises a $500 million World Bank facility, a $100 million loan from the European Bank for Reconstruction and Development (EBRD), and a $200 million loan approved by the African Development Bank (AfDB).

The AfDB said the project’s overall financing structure also includes a €22 million European Union grant and a $2.6 million project-preparation grant, alongside at least $1.2 billion expected from private-sector investors.

Project BRIDGE, also known as the Digital Value Chain Infrastructure for Boosting Employment (D-VIBE), is being implemented through a public-private partnership. The project is expected to expand Nigeria’s fibre backbone substantially and connect all 774 local government areas to high-speed broadband.

The Federal Government incorporated Bridge Open Access in August to serve as the corporate vehicle for the project, while the Communications Minister, Bosun Tijani, subsequently announced October as the commencement period for the nationwide rollout.

The project is expected to strengthen broadband infrastructure and expand connectivity, particularly in underserved areas, as Nigeria continues efforts to deepen its digital economy.