The Federal Government has appointed Quest Merchant Bank as Transaction Advisor for Project BRIDGE, its flagship broadband infrastructure initiative aimed at expanding Nigeria’s fibre-optic network.
The Acting Managing Director of Quest Merchant Bank, Mr Afolabi Olorode, disclosed the appointment in a statement on Thursday.
Project BRIDGE (Broadband Infrastructure Development for Digital Economy) is an initiative of the Federal Ministry of Communications, Innovation and Digital Economy, led by the Minister, Bosun Tijani.
The project is designed to deploy about 90,000 kilometres of open access fibre-optic cable nationwide to boost broadband penetration, strengthen connectivity and promote inclusive digital and economic growth.
Olorode described Project BRIDGE as a critical intervention to strengthen Nigeria’s digital backbone and unlock opportunities in the digital economy.
He said that under the appointment, the bank would support the ministry and the Project Implementation Unit in structuring the project’s financial and commercial framework.
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,” he said.
Also speaking, the bank’s Head of Investment Banking, Mrs Yetunde Falore, said the initiative would play a pivotal role in expanding connectivity and deepening digital inclusion across the country.
She noted that improved broadband infrastructure would support growth in key sectors such as education, healthcare, agriculture and commerce.
NAN reports that the project aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises digital infrastructure expansion and increased private-sector participation in national development.
The project is expected to be executed through a Special Purpose Vehicle (SPV), bringing together government and private sector investors, with support from multilateral institutions.
It targets the establishment of the SPV and commencement of implementation by the third quarter of 2026.
Quest Merchant Bank is a licensed Nigerian merchant bank offering corporate banking, treasury, financial advisory and capital market services to corporate, institutional and public sector clients.
