FG SEEKS $1.2BN PRIVATE INVESTMENT FOR FIBRE NETWORK

The Federal Government is seeking about $1.2bn in private-sector funding to complete its planned 90,000-kilometre nationwide fibre-optic network.

The project, known as Project BRIDGE, is estimated to cost about $2bn and is designed to expand Nigeria’s broadband backbone and improve connectivity across the country. Physical deployment is expected to begin in October.

The government has secured about $800m in financing commitments from development finance institutions, leaving approximately $1.2bn to be mobilised from private investors and other sources.

The Federal Ministry of Communications, Innovation and Digital Economy said the project would be implemented through a special-purpose vehicle under a public-private partnership model.

According to the ministry, the government will remain a minority shareholder in the SPV, while private-sector participation will provide additional equity and support implementation.

Project BRIDGE is expected to be rolled out over five years, beginning with a 30,000-kilometre fibre deployment in the first year.

The ministry said the project would help extend high-speed connectivity to underserved areas, support digital businesses and strengthen Nigeria’s national digital infrastructure.

The government has also established the National Broadband Alliance for Nigeria to support collaboration among public institutions, private companies and civil society.

The ministry said 30 companies had formally expressed interest in investing in the project following consultations with the private sector.