The Federal Government is seeking about $1.2bn in private investment to finance its planned 90,000-kilometre nationwide fibre network, with physical deployment expected to commence in October.
The project, estimated to cost about $2bn, has so far secured $800m through sovereign financing commitments from international development institutions.
The funding includes a $500m World Bank facility approved in October 2025, a $100m loan from the European Bank for Reconstruction and Development approved in February 2026 and a $200m African Development Bank loan approved in April.
The remaining $1.2bn represents the larger portion of the project’s capital requirement and is expected to come through private-sector participation under the public-private partnership structure.
The government has stressed that securing the private capital is not a condition for the commencement of the project.
Strategic Communications Adviser to the Minister of Communications, Innovation and Digital Economy, Osibo Imhoitsike, said Project BRIDGE had attracted significant backing from development finance institutions while efforts to mobilise private investment were ongoing.
He confirmed that the sovereign financing comprised $500m from the World Bank, $200m from the African Development Bank and $100m from the European Bank for Reconstruction and Development, while the European Union also provided a €22m grant for the project.
“The government has received a significant private sector investment offer as part of the PPP structure, and that process is currently being concluded,” Imhoitsike said.
Minister of Communications, Innovation and Digital Economy, Bosun Tijani, had confirmed in August that physical construction was expected to begin in October, following the incorporation of Bridge Open Access, the special-purpose vehicle established to implement the project.
“The establishment of the company signalled that the project was moving into its implementation phase, with the industry now expecting the October rollout,” Telecom consultant Ejike Onyeaso told The PUNCH.
“The industry is really looking forward to that because it will help reduce costs for not just mobile network operators but also internet service providers that rely on fibre, particularly in the hinterlands and underserved areas.”
The ministry had opened consultations with potential investors in March 2025, seeking private-sector participation in the special-purpose vehicle under a public-private partnership arrangement.
In April 2026, Tijani said, “We’re now mobilising the private sector to plug the remaining gap,” after disclosing that more than $800m had been raised from the government and the World Bank for the project.
Project BRIDGE is expected to expand Nigeria’s fibre infrastructure from about 35,000km to approximately 125,000km.
The World Bank said the initiative would support efforts to bridge the country’s digital divide by extending affordable, high-speed broadband services to underserved communities.
“The BRIDGE project puts into action the bold and ambitious vision to unlock the potential of the digital economy in Nigeria, working alongside the private sector,” World Bank Country Director for Nigeria, Mathew Verghis, said.
“Access to fast and reliable internet will help to create more quality jobs for millions of Nigerians across all 774 LGAs in addition to improving the quality of essential services like education and healthcare.”
Under the proposed structure, private investors are expected to hold between 51 per cent and 75 per cent of Bridge OA and retain operational control, while the Federal Government, through the Ministry of Finance Incorporated, will own between 25 per cent and 49 per cent.
Bridge OA will be responsible for financing, constructing and operating the fibre network as a wholesale open-access infrastructure provider.
It will sell fibre capacity to qualified users, including telecommunications companies, internet service providers, banks and cloud providers, rather than provide internet services directly to consumers.
The rollout, initially planned for the fourth quarter of 2025 or the first quarter of 2026, was delayed as the government worked on establishing the special-purpose vehicle, securing private investors and completing procurement and other implementation requirements.
The project was originally expected to take about five years, with approximately 30,000km targeted for construction in the first year.
Tijani has since reduced the projected delivery period to three years as the government seeks to accelerate deployment through private investment and increased construction capacity.
