African Development Bank approves Nigeria loan
Analysis based on 19 articles · First reported Apr 11, 2026 · Last updated Apr 12, 2026
The approval of a $200 million loan by the African Development Bank to Nigeria, alongside significant contributions from the World Bank Group and European Bank for Reconstruction and Development, is expected to boost Nigeria's digital economy and create millions of jobs. This substantial investment in infrastructure will likely attract further private sector participation, signaling positive growth prospects for the telecommunications and technology sectors in Nigeria and the broader West African region.
The African Development Bank Group has approved a $200 million loan to Nigeria for the Digital Value Chain Infrastructure for Boosting Employment (D-VIBE) Project, also known as Project BRIDGE. This initiative aims to expand Nigeria's national fiber backbone from 30,000 km to 120,000 km, connecting all 774 Local Government Areas to high-speed broadband. The project is part of a larger $800 million sovereign financing package, which includes $500 million from the World Bank Group and $100 million from the European Bank for Reconstruction and Development. Total project financing is estimated at $2 billion, with additional support from the European Union and the Multilateral Cooperation Center for Development Finance, along with significant private sector investment. The D-VIBE project is structured as a public-private partnership and is expected to generate up to 2.8 million jobs and increase Nigeria's broadband penetration from 45% to 70% by 2030. It will also establish cross-border fiber connections with Benin, Cameroon, Nigeria, and Chad, enhancing regional digital integration.
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