The Federal Ministry of Communications, Innovation, and Digital Economy has opened an investor consultation process, inviting private sector players to express interest in its planned Special Purpose Vehicle (SPV) to deploy 90,000 kilometres of fibre optic cables across Nigeria.
The Ministry led by Dr. Bosun Tijani, in a consultation document released on Monday, said the initiative dubbed Project Bridge: Building Resilient Digital Infrastructure for Growth, seeks to establish a nationwide fibre network to enhance connectivity, support economic growth, and drive digital transformation.
It noted that this project aims to boost broadband penetration and strengthen the country’s digital infrastructure.
Public-private partnership structure
According to the Ministry, the project will be executed under a Public-Private Partnership (PPP) model, with the Nigerian government retaining a stake of between 25% and 49% in the SPV.
- The SPV will operate as an independent limited liability company, managed by a board of directors with expertise in telecommunications, infrastructure, and finance.
- The Ministry said the invitation to private sector players aligns with the Infrastructure Concession Regulatory Commission (ICRC) Act, 2005, and the National Policy on Public-Private Partnerships.
“The Ministry is issuing this invitation to ensure transparency, fairness, and accountability in the Project’s implementation and private sector engagement,” it stated.
Eligibility criteria for Investors
According to the consultation document, private sector participants, including local and foreign investment firms, must meet the following criteria:
- Legal Status: Must be a registered entity in its country of incorporation.
- Industry Experience: Must have a proven track record in broadband/telecommunications or large-scale infrastructure projects.
- Financial Capability: Must demonstrate strong financial capacity to fund equity investments.
- Alignment with National Goals: Must support Nigeria’s broadband and digital economy objectives.
- Corporate Governance: Must comply with international best practices in governance.
Why this matters
Nigeria’s broadband penetration currently stands at about 45%, with significant gaps in rural and underserved areas.
The 90,000km fibre optic project aims to bridge this gap, enabling universal access to high-speed internet and fostering innovation, e-commerce, and digital services.
Experts say the PPP approach could attract major telecom and infrastructure investors, accelerating Nigeria’s digital economy ambitions under the National Digital Economy Policy and Strategy (NDEPS 2020-2030).
What you should know
Dr. Bosun Tijani had in May last year announced the approval of the SPV by the Federal Executive Council (FEC), noting that it would be modeled in governance and operations similarly to some of the best Public-Private Partnership setups in Nigeria, such as NIBSS and NLNG.
- According to him, the government would be working with partners and stakeholders from the government and private sector to build the additional fibre optic coverage required to take Nigeria’s connectivity backbone to a minimum of 125,000km.
- He added that that project would also help in increasing internet penetration in Nigeria to over 70% and reduce the cost of access to the internet by over 60%.
- Through the project, Tijani said Nigeria would achieve the inclusion of at least 50% of the 33 million Nigerians currently excluded from access to the internet.
It is also expected to deliver up to 1.5% of GDP growth per capita raising GDP from $472.6 billion (2022) to $502 billion over the next 4 years.
