March 19, (THEWILL) — The Federal Government has appointed Quest Merchant Bank as Transaction Adviser for Project BRIDGE, its flagship broadband infrastructure initiative, to significantly expand Nigeria’s fibre-optic network.
The Acting Managing Director of the bank, Afolabi Olorode, disclosed the appointment in a statement issued on Thursday, describing the project as a transformative step toward strengthening the country’s digital backbone.
Quest Merchant Bank is a licenced Nigerian merchant bank providing corporate banking, treasury, financial advisory and capital market services to corporate, institutional and public sector clients.
Project BRIDGE (Broadband Infrastructure Development for Digital Economy) is an initiative of the Federal Ministry of Communications, Innovation and Digital Economy, under the leadership of Minister Bosun Tijani.
The project is designed to deploy approximately 90,000 kilometres of open-access fibre-optic cable across the country to boost broadband penetration, enhance connectivity and drive inclusive digital and economic growth.
It is expected to be executed through a Special Purpose Vehicle (SPV), bringing together government and private sector investors, with additional support from multilateral institutions. Implementation is projected to commence by the third quarter of 2026, following the establishment of the SPV.
Olorode said the initiative represents a critical intervention in Nigeria’s digital transformation agenda, noting that it would unlock vast opportunities within the digital economy. He explained that under the mandate, Quest Merchant Bank would support the ministry and the Project Implementation Unit in structuring the financial and commercial framework of the project.
According to him, this includes developing bankable investment structures, facilitating investor engagement and designing a Public-Private Partnership (PPP) model to ensure efficient execution and long-term sustainability.
“Project BRIDGE represents a significant step toward unlocking opportunities within Nigeria’s digital economy. We are honoured to partner with the ministry and contribute our transaction advisory and infrastructure finance expertise to deliver a robust framework that will attract private capital and support national development”, Olorode said.
Also speaking, the bank’s Head of Investment Banking, Yetunde Falore, said the initiative would play a pivotal role in expanding connectivity and deepening digital inclusion nationwide. She noted that improved broadband infrastructure would support growth across key sectors, including education, healthcare, agriculture and commerce.
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