FG’s project BRIDGE to unlock opportunities within Nigeria’s digital economy – Olorode

Afolabi Olorode, the acting managing director/CEO of Quest Merchant Bank, says the Federal Government’s (FG’s) project BRIDGE will help in unlocking opportunities within Nigeria’s digital economy.

BRIDGE is an acronym for ‘Broadband Infrastructure Development for Digital Economy’ initiative designed to expand Nigeria’s fibre-optic infrastructure and accelerate broadband penetration across Nigeria.

“Project BRIDGE represents a critical step in strengthening Nigeria’s digital backbone and unlocking the immense opportunities within the country’s digital economy,” Olorode stated, following the bank’s appointment as the transaction advisor for the initiative by ‘Bosun Tijani, the minister, Federal Ministry of Communications, Innovation and Digital Economy.

The project is expected to deploy approximately 90,000 kilometres of open access fibre-optic cable, strengthen nationwide connectivity and enable inclusive digital and economic growth.

As transaction advisor, Olorode stated that Quest Merchant Bank will support the ministry and project BRIDGE implementation unit in structuring and implementing the project’s financial and commercial framework.

He added that the mandate includes developing bankable investment structures, supporting investor engagement, and designing the public–private partnership framework required to facilitate successful project execution and long-term sustainability.

“We look forward to applying our transaction advisory and infrastructure finance expertise to help deliver a robust and investable framework that will attract private capital and support long-term national development.”

Yetunde Falore, head, investment banking, Quest Merchant Bank, stated that the bank aligns with the criticality of the project and will bring its expertise to help drive a timely, efficient and successful project delivery as the transaction advisor.

“Nigeria’s digital economy is entering a defining phase, and infrastructure initiatives such as Project BRIDGE will play a central role in expanding connectivity, deepening digital inclusion, and supporting sustainable economic growth,” Falore stated.

She noted that by accelerating broadband penetration and strengthening Nigeria’s digital backbone, the initiative is expected to unlock opportunities across key sectors—including education, healthcare, agriculture, commerce, and the wider innovation ecosystem.

According to Falore, the project will leverage a Special Purpose Vehicle (SPV) set up and project break-ground by third quarter (Q3) 2026.

Under the appointment, Quest Merchant Bank will support the ministry and project implementation team in structuring and delivering a financially robust SPV by shortlisting qualified private sector participants to partner with the FG (backed by World Bank, Africa Development Bank and European Bank for Reconstruction & Development) to deliver private sector led, wholesale open Access Fibre Company.