Daniel Otera
President Bola Tinubu has secured the backing of the World Bank for Nigeria’s ambitious plan to extend its national fibre-optic network from 35,000km to 125,000km, a move expected to transform broadband access, support digital reforms, and boost GDP.
The World Bank Group’s Managing Director and CFO, Anshula Kant, confirmed the multilateral lender’s support during a visit to Aso Rock on Wednesday. She described Nigeria as “an important partner,” commending Tinubu’s ongoing macroeconomic and digital sector reforms.
“We are working very closely together on broadband access and digital infrastructure. These are shared priorities,” Kant said, alongside the World Bank Country Manager, Taimur Samad.
The planned 90,000km expansion will connect homes, schools, hospitals, and businesses across all geopolitical zones.
According to Communications Minister Bosun Tijani, the project is designed to be “once-and-for-all” infrastructure that will “ring every region,” with construction expected to begin by the end of the year.
The World Bank, alongside private partners, will inject an estimated $500 million into the project. Government will hold a minority stake, while 51% of funding is expected from private investors through a self-financing special purpose vehicle.
“This is not a loan-driven venture,” said Finance Minister Wale Edun. “It’s a commercially viable project designed to pay for itself through user fees.”
Tijani noted that each 10% improvement in broadband penetration could add up to 1.35 percentage points to GDP. He stressed that digital infrastructure underpins key sectors such as agriculture, education, and health all critical to Nigeria’s economic recovery.
The World Bank currently supports Nigeria through a portfolio worth approximately $17 billion, making it the largest in Africa. The funds cover key sectors including power, education, agriculture, healthcare, and social protection.
Recent programmes have focused on broadband expansion, renewable energy, and concessional finance for small and medium enterprises. In September 2024, the Bank approved a $1.57 billion package to strengthen education, primary healthcare, and irrigation infrastructure in the country.
Kant said the World Bank remains committed to helping Nigeria tackle poverty by accelerating growth and creating jobs, especially for the youth.