By Chibuzor Alli
The Federal Government is seeking about $1.2bn in private capital to fund its planned 90,000-kilometre nationwide fibre network, with physical deployment expected to begin in October.
The project, known as Project BRIDGE, is moving into its implementation phase following the incorporation of Bridge Open Access, or Bridge OA, as the special-purpose vehicle established to drive the rollout.
Official records from the government and global financial institutions reviewed by The PUNCH showed that $800m of the estimated $2bn project cost has been covered by sovereign financing commitments, leaving about $1.2bn in the wider capital envelope.
The $800m 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 outstanding private capital is not a condition that must be met before implementation can begin. Rather, it represents the larger remaining portion of the project’s estimated $2bn capital envelope, which the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, pitched in 2024.
Strategic Communications Adviser to the minister, Osibo Imhoitsike, said Project BRIDGE had attracted support from international development finance institutions and private-sector mobilisation through its transaction structure.
He confirmed that the 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.
Project BRIDGE rollout set for October
Tijani confirmed in August that physical rollout of the fibre network was expected to begin in October.
The October target followed the incorporation of Bridge OA in August as the special-purpose vehicle for 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 formally opened an investor consultation process in March 2025, inviting private-sector players 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 noting that more than $800m had been raised from the government and World Bank for the project.
Project BRIDGE is designed to expand the national fibre network from the current 35,000km to roughly 125,000km.
Investors to take majority stake
Documents from the ministry show that 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.
The structure is intended to bring private capital and operating expertise into the project while the government provides part of the financing and retains a minority position.
Bridge OA will handle the financing and construction of the network and 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 directly serving end users.
World Bank backs digital expansion
The World Bank said the programme would help close Nigeria’s digital divide by expanding affordable, high-speed broadband access 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.”
The rollout had previously been targeted for the fourth quarter of 2025 or the first quarter of 2026, but large-scale construction was deferred as the government worked to establish the special-purpose vehicle, onboard private investors and complete procurement and implementation arrangements.
The project was initially expected to take about five years, with an initial target of roughly 30,000km in the first year before the pace increased as private capital and construction capacity were brought into the programme.
Tijani has since revised the overall delivery period to three years, bringing forward the expected completion of the 90,000km network.
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