African Development Bank Approves $200 Million Loan for Nigeria’s $2 Billion Fibre Optic Project

 

The Board of Directors of the African Development Bank Group has approved a $200 million loan to the Nigerian government for the Digital Value Chain Infrastructure for Boosting Employment (D-VIBE) Project, also known as Project BRIDGE. The project aims to deploy about 90,000 kilometres of open-access fibre nationwide. This will extend Nigeria’s national fibre backbone from roughly 30,000 km to around 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. It also includes plans for cross-border links with Benin, Cameroon, Niger, and Chad. The initiative is structured as a public-private partnership through a Special Purpose Vehicle (SPV). Public ownership will be capped at 25% to 49%, with the private sector expected to take 51% to 75% stake. The $200 million loan from the African Development Bank is part of an $800 million sovereign financing package that includes $500 million from the World Bank and $100 million from the European Bank for Reconstruction and Development (EBRD). Total project cost is estimated at $2 billion, which also factors in an EU grant of €22 million, a $2.6 million project preparation grant from the Multilateral Cooperation Center for Development Finance (MCDF), and at least $1.2 billion from private investors. Beyond laying fibre, the project plans to address demand-side issues through affordable devices, digital skills training, support for digital platforms in priority sectors, cybersecurity measures, and policies to promote market competition. It will also encourage the use of hybrid and renewable power sources. According to project documents, D-VIBE is expected to help raise national broadband penetration from 45% to about 70% by 2030 and support the creation of up to 2.8 million jobs over its lifetime. The project is aligned with Nigeria’s Vision 2050, National Development Plan, and Renewed Hope Development Plan (2026-2030), as well as the African Union’s Agenda 2063 and the African Development Bank’s Ten-Year Strategy (2024-2033).