EBRD Approves 100 Million Dollar Investment in Nigeria’s Fibre Expansion Project

The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has announced that the European Bank for Reconstruction and Development has approved a 100 million dollar investment in Nigeria’s Project BRIDGE, a major fibre optic expansion initiative.

Tijani disclosed the development on Wednesday, stating that the approval was secured at the conclusion of the final phase of the government’s Project BRIDGE investment tour across Europe. He described the engagement with stakeholders as productive and confirmed that the bank’s board had formally endorsed the funding.

The minister explained that the new investment adds to the 500 million dollars in financing previously approved by the World Bank Group for the same project. He also revealed that the European Union has committed a 22 million euro grant as part of a wider 45 million euro digital economy support package for Nigeria.

According to him, the European Union package includes 18 million euros earmarked for digital public services and 5 million euros to strengthen the 3 Million Technical Talent programme aimed at building digital skills across the country.

Tijani said the approvals followed a two week investment drive covering six European nations, where discussions focused on securing partnerships to deploy 90,000 kilometres of fibre optic cable nationwide.

The Federal Government formally introduced Project BRIDGE on August 5, 2025, establishing it as a special purpose vehicle designed to attract private sector investment and technical expertise for broadband expansion.

The initiative is expected to significantly improve internet access across Nigeria, with projections indicating broadband penetration could reach up to 70 percent nationwide and 80 percent among underserved communities by 2027.

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