The World Bank has announced its full backing for Nigeria’s ambitious 90,000-kilometre fibre-optic cable project a transformative digital infrastructure initiative expected to drive inclusive economic growth, expand broadband access nationwide, and support critical sectors of the economy.
The Bank’s Managing Director and Chief Financial Officer, Anshula Kant, confirmed the development on Wednesday following a high-level meeting with President Bola Ahmed Tinubu at the State House in Abuja. Also present at the meeting were Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani.
Kant described Nigeria as a “very valuable partner” to the World Bank, noting that the new fibre-optic initiative reflects a deep alignment between the country’s reform agenda and the Bank’s development priorities.
“One of the biggest forthcoming projects we are partnering on is in the digital space, providing broadband access across the country,” Kant said. “We also have ongoing collaborations in agribusiness, energy, education, health, and social protection. We believe our priorities are strongly aligned.”
She praised the Tinubu administration for taking bold macroeconomic decisions, stating that their impact was already beginning to show.
“I congratulated the President for embarking on such ambitious macroeconomic reforms and staying the course. These are not easy, but they are already showing strong results,” she noted.
Kant reaffirmed the World Bank’s commitment to eradicating poverty through inclusive growth and job creation, especially for young people.
“Accelerated growth requires both physical and human capital including digital services, energy, education, and healthcare. That’s where this partnership fits in.”
Finance Minister Wale Edun described the 90,000km fibre-optic initiative as one of the largest infrastructure projects of its kind globally, adding that it is structured to be commercially viable and self-financing.
“The World Bank is a major partner in this landmark initiative. It is being structured in a way that ensures users of the infrastructure will pay for its services, making it sustainable,” Edun explained.
He added that the project reflects Nigeria’s broader development strategy of unlocking growth through key enablers such as agriculture, digital connectivity, and access to finance.
“There’s a clear consensus: to grow our economy, we must invest in infrastructure, particularly digital, and empower SMEs. That’s the path to inclusive, sustainable growth.”
Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, emphasized the transformative impact of the fibre rollout, which will span all geopolitical zones with ringed networks in each state.
“We’re laying 90,000 kilometres of fibre across Nigeria with rings in every geopolitical zone and full state coverage. It’s about solving connectivity once and for all,” Tijani said. “We want every home, office, school, and hospital to have access to fibre-based broadband.”
He disclosed that the Federal Executive Council (FEC) had already approved the project, which will be delivered through a Special Purpose Vehicle (SPV) with majority private sector ownership.
“The World Bank is helping structure this SPV, where government retains a minority stake while private investors will hold 51% and manage operations. That ensures sustainability and efficiency,” he added.
The project, he said, is a catalyst for development across key sectors including health, education, agriculture, and the creative economy.
“There’s empirical evidence that a 10% increase in broadband quality boosts GDP by 1.35%. Few investments offer such high returns. This is precisely the kind of infrastructure that drives long-term growth.”
Tijani noted that the full project design has been completed and will soon be made public, allowing Nigerians to see how their communities will benefit. Implementation is expected to begin before the end of 2025.
“Mr. President has made it clear we must invest in infrastructure that allows our economy to grow and thrive. That’s what this is about,” he concluded.
