The Federal Government of Nigeria has achieved a significant breakthrough in its mission to close the nation’s digital divide, securing a $100 million investment from the European Bank for Reconstruction and Development (EBRD).
Dr. ’Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, confirmed the formal approval of the funds following the conclusion of an intensive two-week investment tour across six European countries.
This capital is specifically designated for Project BRIDGE, a massive infrastructure initiative aimed at deploying 90,000km of fibre-optic cable to provide meaningful connectivity to all Nigerians.
This new investment arrives as a major supplement to the $500 million in financing already approved by the World Bank for the project.
In addition to the EBRD funds, the Federal Government successfully negotiated a €45 million Digital Economy Package from the European Union.
This package includes a €22 million grant specifically for Project BRIDGE, along with €18 million for the enhancement of Digital Public Services and €5 million to bolster the 3MTT Nigeria technical talent programme.
Tijani further described these approvals as deeply reassuring, noting that the hard work and extensive travel required to secure these partnerships are essential for delivering the infrastructure needed to drive Nigeria’s knowledge-driven economy. By expanding the national digital backbone, the government aims to create a foundation that supports innovation across all sectors, including agriculture.
Industry leaders have noted that such infrastructure is the prerequisite for more advanced economic shifts, such as the transition from collateral-based lending to data-driven agrifinance. With the digital backbone in place, data regarding cash flows, weather patterns, and satellite imagery can be leveraged to provide formal financing to the millions of smallholder farmers who remain currently excluded from the financial system.