The Federal Government is seeking about $1.2 billion from private investors for its planned 90,000-kilometre fibre network. Notably, the aim is to strengthen the Nigeria fibre network across the country. Physical deployment prepares to begin in October.
According to The PUNCH, the government has already secured about $800 million of the estimated $2 billion required for the nationwide broadband project, which will help expand the Nigeria fibre network infrastructure.
The financing includes $500 million from the World Bank, $200 million from the African Development Bank and $100 million from the European Bank for Reconstruction and Development.
The European Union has also provided a €22 million grant for Project BRIDGE to enhance the Nigeria fibre network.
Private investors to fund remaining gap
Strategic Communications Adviser to the Communications Minister, Osibo Imhoitsike, said the project has attracted significant interest.
“The government has received a significant private sector investment offer as part of the PPP structure. That process is currently being concluded,” he said.
The government incorporated Bridge Open Access in August to serve as the special-purpose company responsible for delivering the project.
Communications Minister Bosun Tijani previously said physical rollout should begin in October.
Fibre project targets underserved communities
Telecommunications consultant Ejike Onyeaso said operators expect the project to reduce infrastructure costs. Ultimately, the Nigeria fibre network will be accessible to more communities.
“The industry is really looking forward to that because it will help reduce costs for not just mobile network operators but also internet service providers that rely on fibre. This is particularly true in the hinterlands and underserved areas,” he said.
The government plans to expand Nigeria’s fibre network from about 35,000 kilometres to approximately 125,000 kilometres.
World Bank Country Director for Nigeria Mathew Verghis said improved broadband access could also support employment and public services.
“Access to fast and reliable internet will help to create more quality jobs for millions of Nigerians across all 774 LGAs. In addition, it will improve the quality of essential services like education and healthcare,” he said.
Private investors are expected to own between 51 and 75 per cent of Bridge OA. Meanwhile, the Federal Government would retain a minority stake.
