Nigeria Secures $100M EBRD Investment for Fiber Expansion

The Federal Government of Nigeria has successfully secured a $100 million investment from the European Bank for Reconstruction and Development (EBRD) to support its fiber-optic expansion program. Dr.

Bosun Tijani, the Minister of Communications and Digital Economy, disclosed that this investment is part of a broader initiative known as Project Bridge, which aims to enhance digital infrastructure across Nigeria. The EBRD's formal approval of the investment package includes $18 million for digital public services, $5 million for support, and $3 million for technical talent development.

This investment complements an earlier $500 million financing package approved by the World Bank Group. The Nigerian government aims to deploy 90,000 kilometers of fiber optic cable nationwide to improve broadband access, which currently remains low, particularly in rural areas.

The initiative is crucial for addressing connectivity gaps and unlocking opportunities in online education, e-commerce, and remote work.