The World Bank Group, in collaboration with other international development and financial institutions, is partnering with Nigeria to implement a transformative 90,000km Fibre Project aimed at revolutionizing the country’s digital infrastructure and accelerating inclusive economic growth.
The initiative was announced by Anshula Kant, Managing Director and Chief Financial Officer of the World Bank, following a high-level meeting with President Bola Ahmed Tinubu at the State House in Abuja. Also present were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani.
Speaking to journalists after the closed-door session, Kant affirmed the World Bank’s strong commitment to supporting Nigeria’s digital transformation and broader macroeconomic reforms under President Tinubu’s leadership.
“One of our key upcoming projects is in the digital space, delivering broadband access nationwide. We’re also working closely with Nigeria in sectors such as agribusiness, energy, education, health, and social protection,” Kant said.
She commended the Tinubu administration for its bold economic reforms, noting that early signs of progress are already visible.
“I congratulated the President for embarking on such ambitious reforms. These are not easy decisions, but they are already showing strong results,” she added.
Kant highlighted the World Bank’s core mission to eradicate poverty by supporting sustainable growth, improving youth employment, and investing in human and physical capital including digital connectivity, education, healthcare, and energy access.
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Finance Minister Wale Edun described the fibre-optic network as one of the largest of its kind globally, structured with a commercially sustainable model.
“This 90,000km fibre project is a landmark initiative. It’s self-financing users will pay for services, ensuring its long-term viability,” Edun said.
He stressed that the project aligns with Nigeria’s strategy for inclusive growth, poverty reduction, and job creation, especially for small and medium-sized enterprises (SMEs).
“There’s consensus around investing in agriculture, digital infrastructure, and access to finance. These are key drivers of national transformation,” Edun added.
Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, described the project as “future-facing” and designed to deliver lasting connectivity across the country.
”We’re laying 90,000km of fibre across Nigeria with complete state coverage and regional connectivity rings. It’s about solving connectivity once and for all ensuring every home, office, school, and hospital can access high-speed broadband,” Tijani explained.
He noted that the Federal Executive Council (FEC) has approved the project, which will be executed via a Special Purpose Vehicle (SPV). Under this structure, the private sector will hold a 51% equity stake and manage operations independently, with government and World Bank investment ensuring viability and oversight.
“The World Bank is helping us structure the SPV to ensure sustainability and proper governance,” Tijani said.
He also emphasized the broader developmental impact, citing research that shows a 10% improvement in broadband quality can increase GDP by 1.35%.
“This is the kind of infrastructure that drives real growth. The President is focused on delivering results that position Nigeria for long-term competitiveness,” he added.
Tijani revealed that the final design of the network has been completed and will be unveiled in the coming months. He expressed optimism that implementation could begin before the end of 2025.
“President Tinubu is committed to building growth-oriented infrastructure that strengthens Nigeria’s digital and economic future,” Tijani concluded.
