Nigeria has initiated financial advisory processes for its ambitious Building Resilient Digital Infrastructure for Growth (BRIDGE) Project, a $2 billion initiative supported by the World Bank to deploy 90,000 kilometres of fibre-optic cable across the country.
The project, approved by the World Bank Group Board in October 2025, aims to expand broadband access to underserved regions, connecting 33 million Nigerians currently offline across 774 local government areas.
Under the terms of the financing agreement, the Federal Government will hold a 49% stake in a majority privately-owned and managed Project Company, with private investors retaining operational control. The first $500 million financing tranche has already been approved by the International Development Association (IDA) as concessional credit.
A spokesperson for the Ministry of Communications, Innovation, and Digital Economy confirmed that the government is concluding the selection of a financial advisory firm to structure and manage project funding. “Once the transaction advisory process is concluded, the SPV will be formed,” the spokesperson said, referring to the Special Purpose Vehicle that will oversee the deployment.
The project will roll out in phases, with milestone-linked funding tranches: the first phase will cover 30,000 km, followed by subsequent phases to extend coverage nationwide. The government will channel its stake through Ministry of Finance Incorporated (MOFI), which will ensure alignment with national priorities and World Bank requirements.
Funding will be disbursed in five tranches, beginning with $150 million for initial equity capitalisation. Subsequent tranches depend on network deployment milestones, including 5,000 km, 20,000 km, and 40,000 km, culminating in the launch of wholesale open-access services.
The BRIDGE Project incorporates robust environmental and social safeguards, including gender-based violence prevention, grievance resolution, and community engagement. Technical assistance will also be provided to government agencies to enhance broadband deployment, strengthening public services, education, healthcare, and broader economic development across Nigeria.
Nigeria’s minority stake ensures government participation while allowing private investors to manage operations, marking a significant step in bridging the country’s digital divide.
