The Federal Government is seeking about $1.2bn in private capital to support its planned 90,000-kilometre nationwide fibre network, with physical deployment expected to begin in October.

Official records from the government and global financial institutions show that $800m of the estimated $2bn project cost has already been covered through sovereign financing commitments.

The secured funding comprises 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 outstanding portion of the project’s estimated $2bn capital requirement, which Communications, Innovation and Digital Economy Minister, Bosun Tijani, outlined in 2024.

Strategic Communications Adviser to the Minister, Osibo Imhoitsike, said Project BRIDGE had received substantial backing from international development finance institutions, alongside private-sector mobilisation through its transaction structure.

He confirmed that sovereign financing secured so far included $500m from the World Bank, $200m from the African Development Bank and $100m from the European Bank for Reconstruction and Development. The European Union also provided a €22m grant for Project BRIDGE.

“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.

The private capital requirement is not a condition that must be fulfilled before implementation begins. Instead, it forms the larger outstanding portion of the project’s planned capital envelope.

Tijani said in August that physical rollout was expected to commence in October. The timeline followed the August incorporation of Bridge Open Access, or Bridge OA, as 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 t

“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 formally began an investor consultation process in March 2025, inviting private-sector participants to express interest in the special-purpose vehicle under a public-private partnership model.

In April 2026, Tijani stated, “We’re now mobilising the private sector to plug the remaining gap,” after saying that more than $800m had been raised from the government and World Bank for the project.

Project BRIDGE is designed to expand Nigeria’s national fibre network from its current 35,000km to roughly 125,000km.

The World Bank said the programme would help narrow Nigeria’s digital divide by extending affordable, high-speed broadband services to communities that remain unserved or underserved.

“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.”

Ministry documents indicate that private investors are expected to hold a majority stake in Bridge OA, with equity ownership ranging from 51 per cent to 75 per cent and operational control of the company.

The Federal Government, through the Ministry of Finance Incorporated, or MoFI, is expected to retain between 25 per cent and 49 per cent.

Under the proposed structure, private capital and operational expertise will be brought into the project while the government provides part of the financing and maintains a minority stake.

Bridge OA will be responsible for financing and constructing the network and will operate it as a wholesale open-access infrastructure company rather than a retail internet provider.

The company is expected to sell fibre capacity on equal and non-discriminatory terms to qualified operators, including telecommunications companies, internet service providers, banks and cloud providers, rather than serving end users directly.

The rollout was initially scheduled for the fourth quarter of 2025 or the first quarter of 2026. However, large-scale construction was deferred while the government worked on establishing the special-purpose vehicle, bringing private investors into the project and completing procurement and implementation arrangements.

The project was originally expected to take about five years to implement, with an initial target of roughly 30,000km in the first year. The pace was expected to increase as private capital and construction capacity were introduced.

Tijani has since revised the overall delivery period to three years, bringing forward the expected completion of the 90,000km network.

Source: Punch