Nigeria secures a $200 million AfDB loan to deploy 90,000km of fibre optic cables across the 774 local government areas.
The African Development Bank (AfDB) has approved a $200 million loan for Nigeria. This funding is set to revolutionize the country’s digital landscape.
The money will finance the Digital Value Chain Infrastructure Project, known as D-VIBE. The primary goal is to lay 90,000 kilometres of new fibre optic cables across the nation.
Currently, Nigeria has about 30,000 kilometres of fibre backbone. This project will expand that network to 120,000 kilometres. It promises to connect all 774 local government areas to high-speed internet.
This loan is just one piece of a much larger puzzle. The total financing package is estimated at $2 billion. The World Bank is contributing $500 million, while the European Bank for Reconstruction and Development is adding $100 million.
Private sector investors are also expected to inject $1.2 billion into the initiative.
Abdul Kamara, the AfDB Director General for Nigeria, highlighted the importance of this investment. He noted that while Nigeria has the talent and market, it has lacked the infrastructure to link that potential to opportunity.
The government projects that this expansion will create 2.8 million jobs. It also aims to raise broadband penetration from 45 percent to 70 percent by 2030.
Beyond connectivity, the project will establish cross-border links with neighbours like Cameroon and Benin. It also focuses on digital skills, cybersecurity frameworks, and renewable energy solutions.
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