Pecohub The Federal Government has secured a $100 million investment from the European Bank for Reconstruction and Development (EBRD) for Nigeria’s Project BRIDGE, the federal government’s fibre-optic expansion programme.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, disclosed this on his verified X account at the conclusion of the Project BRIDGE Investment Tour in Europe.
The new commitments add to the $500 million financing earlier approved by the World Bank Group for the project.
According to the minister, the Board of the EBRD has formally approved the $100 million investment to support the deployment of fibre infrastructure across Nigeria.
- “As we conclude the final leg of our Project BRIDGE Investment Tour in Europe this week, following several extremely positive engagements, I am pleased to confirm the formal approval by the Board of the European Bank for Reconstruction and Development EBRD to proceed with a $100 million investment in Project BRIDGE.”
According to Tijani, the package includes €18 million for digital public services and €5 million to support the 3 Million Technical Talent (3MTT) programme, as well as €18 million for Digital Public Services and €5 million to support our 3MTT Nigeria Programme.
Project BRIDGE, formally known as Building Resilient Digital Infrastructure for Growth, is the Federal Government’s ambitious plan to expand broadband infrastructure nationwide by deploying 90,000 kilometres of fibre-optic cables across Nigeria.
Launched under the leadership of the Ministry of Communications, Innovation and Digital Economy, the project is to be implemented through a Special Purpose Vehicle that invites private investment and encourages public-private partnerships, with the government seeking to attract global financiers and technology partners.
Before the recent funding announcements, Nigeria had already received major backing for the project, including a $500 million financing package from the World Bank Group to support the roll-out of the fibre network.
