AfDB Approves $200M Loan to Boost Nigeria's Digital Infrastructure

The African Development Bank (AfDB) has approved a $200 million loan to support Nigeria's digital infrastructure, which is part of a broader initiative to enhance the country's digital economy. This flagship project aims to close connectivity gaps and strengthen Nigeria's position as Africa's most populous nation and West Africa's largest market.

The initiative will expand the national fiber backbone from approximately 30,000 kilometers to 120,000 kilometers, linking 774 local government areas and improving broadband access to schools, health facilities, agricultural zones, and commercial hubs. The project is expected to create around 2.8 million jobs and increase Nigeria's broadband penetration from 45% to 70% by 2030.

Abdul Kamara, the Director General of AfDB's Nigeria office, stated that the project will unlock opportunities across various sectors and equip young Nigerians with the digital tools necessary for sustainable livelihoods. The AfDB loan is part of an $800 million sovereign financing package, which includes contributions from the World Bank and the European Bank for Reconstruction and Development.