{
  "id": 9673682,
  "title": "FG targets $1.2bn private funding for fibre project",
  "url": "https://urgent.news/2026/09/25/fg-targets-1-2bn-private-funding-for-fibre-project-9673682",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-09-25T02:04:41.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/fg-targets-1-2bn-private-funding-for-fibre-project/"
  },
  "original_language": "en",
  "account": "The Federal Government aims to secure approximately $1.2 billion in private investment for its planned nationwide fibre network, as construction sets to begin in October. The project, known as Project BRIDGE, requires about $2 billion in capital to expand the national network from 35,000 kilometers to around 125,000 kilometers. While $800 million of the total cost has been covered through sovereign financing commitments, including a $500 million World Bank facility, a $100 million loan from the European Bank for Reconstruction and Development, and a $200 million African Development Bank loan, about $1.2 billion still remains to be raised. The private capital, not a mandatory condition for commencement, is part of the larger $2 billion capital allocation. The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, previously set a target of $1.2 billion in private funding in 2024. Strategic Communications Adviser to the Minister, Osibo Imhoitsike, confirmed that Project BRIDGE has attracted significant support from international development finance institutions and through a transaction structure that mobilizes private-sector investment. The European Union also provided a €22 million grant for the project.",
  "summary": "The Federal Government is seeking $1.2bn in private funding for its nationwide fibre network project. According to Punch, the project aims to establish a 90,000-kilometre fibre network.\n\nThe total estimated cost of the project is $2bn, with $800m covered by sovereign financing commitments. This includes a $500m World Bank facility, a $100m loan from the European Bank for Reconstruction and Development, and a $200m African Development Bank loan.\n\nPhysical deployment of the fibre network is set to begin in October, with a newly incorporated company, Project BRIDGE, driving its implementation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "FG targets $1.2bn private funding for fibre project",
        "url": "https://urgent.news/2026/09/25/fg-targets-1-2bn-private-funding-for-fibre-project",
        "published": "2026-09-25T01:50:42.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}