In a massive boost to its digital economy, the Nigerian government has finalized a $100 million investment from the European Bank for Reconstruction and Development to propel Project Bridge.

Communications and Digital Economy Minister Bosun Tijani has announced a landmark $100 million (approx. KES 13 billion) financing agreement with the EBRD. The funds are earmarked for Project Bridge, an ambitious initiative to overhaul Nigeria's digital infrastructure.

As Africa's largest economy aggressively pivots toward digital transformation, massive capital injections are mandatory. This European financing, combined with existing World Bank support, establishes a robust foundation for continental tech supremacy and widespread economic inclusion.

The European Investment Tour

The securing of this critical capital follows a rigorous diplomatic and economic offensive. Minister Tijani confirmed that the formal approval by the EBRD Board was the culmination of the highly successful Project BRIDGE Investment Tour across Europe.

This strategic financial alliance marks a significant entry by the European Bank into Sub-Saharan African digital markets, validating the immense potential and scalability of Nigeria's technology sector on a global stage.

Structuring the Digital Grid

The $100 million EBRD injection is not an isolated financial event. It operates as a strategic multiplier alongside a colossal, previously approved $500 million (approx. KES 65 billion) financing package from the World Bank.

• $100 million (KES 13bn) direct investment from the EBRD.
• Supplemental €22 million (KES 3.1bn) grant from the European Union.
• Existing $500 million (KES 65bn) World Bank financial backbone.
• Direct support for the expansive 3MTT Nigeria Programme.

Furthermore, an additional €22 million from the European Union has been secured as part of a broader €45 million Digital Economy Package, specifically targeting the digitization of public services and massive tech talent development.

A Continental Tech Blueprint

The successful capitalization of Project Bridge is a masterclass in modern economic statecraft. By aligning international institutional finance with domestic technological mandates, Nigeria is engineering an irreversible digital evolution.

"This investment comes in addition to the already approved $500 million financing... securing our digital frontier," Mr Tijani stated, confirming the dawn of a highly connected Nigerian future.