The Federal Government is seeking about $1.2 billion in private capital to support its planned 90,000-kilometre nationwide fibre network as the project moves towards physical deployment in October.
The development comes with the incorporation of a new company, Bridge Open Access (Bridge OA), which has been established as the special-purpose vehicle for implementing the project.
Official records from the Federal Government and international financial institutions reviewed by The PUNCH indicate that $800 million of the estimated $2 billion project cost has so far been covered through sovereign financing commitments.
The financing comprises a $500 million World Bank facility approved in October 2025, a $100 million loan from the European Bank for Reconstruction and Development approved in February 2026, and a $200 million African Development Bank loan approved in April 2026.
The remaining $1.2 billion represents the larger outstanding portion of the project’s estimated capital envelope and is expected to be mobilised from private investors under the project’s public-private partnership structure.
Strategic Communications Adviser to the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, Osibo Imhoitsike, said Project BRIDGE had attracted significant support from international development finance institutions, alongside efforts to mobilise private-sector investment.
He confirmed that the sovereign financing secured so far comprised $500 million from the World Bank, $200 million from the African Development Bank and $100 million from the European Bank for Reconstruction and Development.
The European Union has also provided a €22 million 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.
Tijani had confirmed in August that physical deployment of the network was expected to begin in October.
The October rollout follows the incorporation of Bridge OA in August, signalling the transition of the project into its implementation phase.
Telecommunications consultant Ejike Onyeaso said the industry was looking forward to the rollout, particularly because the network could help reduce fibre-related costs for mobile network operators and internet service providers operating in underserved areas.
“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,” Onyeaso said.
The Federal Government formally opened an investor consultation process in March 2025, inviting private-sector players to express interest in the special-purpose vehicle for the rollout under a public-private partnership model.
In April 2026, Tijani said the government was mobilising private-sector investment to close the remaining financing gap after more than $800 million had been secured for the project.
Project BRIDGE is designed to expand Nigeria’s national fibre network from about 35,000km to approximately 125,000km, representing an additional 90,000km of fibre infrastructure.
The World Bank said the programme was intended to help narrow Nigeria’s digital divide by expanding affordable, high-speed broadband access to communities that remain unserved or underserved.
World Bank Country Director for Nigeria, Mathew Verghis, said the project would help unlock the potential of the country’s digital economy through collaboration with the private sector.
He said improved access to fast and reliable internet could create more quality jobs and strengthen access to essential services such as education and healthcare across Nigeria’s 774 local government areas.
Under the proposed structure, private investors are expected to hold a majority stake in Bridge OA, with equity ownership ranging between 51 and 75 per cent and operational control of the company.
The Federal Government, through the Ministry of Finance Incorporated, is expected to retain between 25 and 49 per cent.
The arrangement is designed to combine private capital and operational expertise with government financing while allowing the Federal Government to retain a minority stake.
Bridge OA will be responsible for financing and constructing the fibre network and operating it as a wholesale, open-access infrastructure company rather than a retail internet service provider.
The company is expected to sell fibre capacity to qualified operators on equal and non-discriminatory terms. Potential users include telecommunications companies, internet service providers, banks and cloud service providers.
The network is not intended to provide retail internet services directly to end users.
The rollout was initially targeted for the fourth quarter of 2025 or the first quarter of 2026, but large-scale construction was delayed as the government worked to establish the special-purpose vehicle, secure private investors and complete procurement and implementation arrangements.
The project was initially expected to be delivered over about five years, with approximately 30,000km targeted during the first year before construction was expected to accelerate as private capital and capacity became available.
Tijani has since revised the overall delivery period to three years, bringing forward the expected completion of the 90,000km network.
