- The World Bank will support Nigeria’s $500m national fibre-optic rollout, expanding the backbone from 35,000km to 125,000km under a public-private partnership model.
- Managing Director Anshula Kant praised President Tinubu’s economic reforms and confirmed that broadband, energy, agriculture, and social sectors remain joint priorities.
The World Bank has backed Nigeria’s plan to lay a 90,000-kilometre national fibre-optic backbone, one of the world’s largest digital infrastructure projects.
World Bank Managing Director and Chief Financial Officer Anshula Kant confirmed the support on Wednesday after meeting President Bola Tinubu in Abuja. She praised Tinubu’s economic reforms and pledged stronger collaboration with Nigeria across digital, energy, agriculture, health, and education sectors.
“We are working very closely with Nigeria,” Kant said. “One of our biggest upcoming projects is in the digital space, expanding broadband access nationwide.”
Kant, joined by the World Bank’s Nigeria Country Manager Taimur Samad, described Nigeria as a “valuable and important partner.” She commended the administration for pushing forward with tough but necessary reforms.
“You can already see major improvements and forward momentum,” she said. “We share priorities such as access to energy, digital services, quality education, better healthcare, and higher agricultural productivity.”
Kant’s visit marks her first to Nigeria since Tinubu took office in May 2023. Since then, the government has scrapped fuel subsidies and unified exchange rates to stabilise the naira, reduce inflation, and attract investment.
Currently, the World Bank manages a $9 billion portfolio in Nigeria, covering power, agriculture, social protection, and education. Kant said future financing would support agribusiness value chains, broadband connectivity, and renewable energy.
Finance Minister Wale Edun said the World Bank’s support would help expand Nigeria’s fibre backbone from 35,000 km to 125,000 km. He described the project as a “self-financing special-purpose vehicle” designed to recover costs through user fees.
“This will target sectors that rely on the network and are willing to pay for it, making it commercially viable,” Edun said.
Furthermore, Minister of Communications, Innovation and Digital Economy Bosun Tijani said the government had secured Federal Executive Council approval for the 90,000 km expansion. He also described the project as a “once-and-for-all” investment that will deliver fibre to every geopolitical zone and connect homes, schools, and hospitals.
“We can’t scale agriculture, education, or healthcare without high-quality connectivity,” Tijani said. “Every 10% improvement in broadband quality can add 1.35 percentage points to GDP.”
Tijani said the private sector would fund 51% of the project, with the World Bank and other financiers expected to inject at least $500 million. The government would take a minority stake.
Additionally, the project will operate through an independently managed special-purpose vehicle. Construction could begin before the end of 2025, pending the publication of route maps within the next two months.
Kant reaffirmed the World Bank’s mission to eliminate poverty through growth, job creation, and climate resilience. She said digital connectivity would support that mission by unlocking productivity and economic opportunities.
The bank’s current programme includes $1.5 billion for Nigeria’s power sector, $700 million for adolescent girls’ education, and $500 million for rural roads. Kant said new projects would extend support to broadband and clean energy.
In addition, the bank is co-designing a concessional finance window to support small and medium enterprises in Nigeria.