- World Bank $500m •EBRD $100m
BY BONNY AMADI
The Board of Directors of the African Development Bank Group has approved a $200 million loan to the government of Nigeria to advance a flagship initiative to deploy 90,000 kilometres of open-access fibre nationwide, expand digital skills, and drive job creation across the country.
The African Development Bank Group is providing a $200 million loan as part of an $800 million sovereign financing package for the project, alongside $500 million from the World Bank and $100 million from the European Bank for Reconstruction and Development (EBRD). Total project financing is estimated at $2 billion, and includes an EU grant of N22 million, a $2.6 million Multilateral Cooperation Centre for Development Finance (MCDF) project preparation grant, and at least $1.2 billion of investment from the private sector.
Nigeria is Africa’s most populous country and West Africa’s largest market, and with the digital economy increasingly a major contributor to GDP, the Digital Value Chain Infrastructure for Boosting Employment (DVIBE) Project is expected to close connectivity gaps and support productivity and job creation. It will achieve this by extending Nigeria’s national fibre backbone from around 30,000 km to about 120,000 km, connecting all 774 Local Government Areas – including schools, health facilities, agro-industrial zones, rural communities and commercial hubs – to high-speed broadband and establishing cross-border links with neighbours Benin, Cameroon, Niger, and Chad.
D-VIBE, also known as Project BRIDGE, is structured as a public-private partnership through a Special Purpose Vehicle (SPV), with public ownership capped between 25% and 49% and private sector participation between 51% and 75%, helping address rollout constraints such as high construction and Right-of-Way costs.
The African Development Bank Group is providing a $200 million loan as part of an $800 million sovereign financing package for the project, alongside $500 million from the World Bank and $100 million from the European Bank for Reconstruction and Development (EBRD). Total project financing is estimated at $2 billion, and includes an EU grant of N22 million, a $2.6 million Multilateral Cooperation Centre for Development Finance (MCDF) project preparation grant, and at least $1.2 billion of investment from the private sector.
“Nigeria has the talent, the market, and the ambition; what it has lacked is the backbone infrastructure to connect that potential to opportunity. D-VIBE changes that. From the north to the south, from farms to factories to classrooms, this investment will make high-speed connectivity a reality for every Nigerian community and give young people the tools to build their futures digitally,” said Abdul Kamara, Director General, African Development Bank Group Nigeria Office.
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