Quest Merchant Bank appointed transaction adviser for Nigeria’s Project BRIDGE broadband initiative

Quest Merchant Bank has been appointed as Transaction Adviser for Project BRIDGE, a major national broadband initiative led by the Federal Ministry of Communications, Innovation and Digital Economy under the supervision of Minister Dr ‘Bosun Tijani.

Project BRIDGE, which stands for Broadband Infrastructure Development for Digital Economy, is designed to significantly expand Nigeria’s fibre-optic network and accelerate broadband penetration nationwide. The initiative will see the deployment of approximately 90,000 kilometres of open access fibre-optic cable, aimed at strengthening connectivity and supporting inclusive digital and economic growth.

In its role as Transaction Adviser, Quest Merchant Bank will work with the ministry and the Project Implementation Unit to structure and execute the project’s financial and commercial framework. This includes developing bankable investment models, engaging potential investors and designing the public–private partnership structure required to ensure successful delivery and long-term sustainability.

Commenting on the appointment, Afolabi Olorode, Acting Managing Director and Chief Executive Officer of Quest Merchant Bank, said:
“Project BRIDGE represents a critical step in strengthening Nigeria’s digital backbone and unlocking the immense opportunities within the country’s digital economy. We are honoured to partner with the FMCIDE under the leadership of Honourable Minister, Dr. ‘Bosun Tijani on this important initiative and 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.”

Also speaking, Yetunde Falore, Head of Investment Banking at Quest Merchant Bank, said:
“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. We align with the criticality of this project and are proud to bring in our expertise to help drive a timely, efficient and successful project delivery in our role as Transaction Advisor.”

The project aligns with President Bola Ahmed Tinubu’s Renewed Hope agenda, which prioritises digital infrastructure expansion, technology-driven productivity and greater private sector participation in delivering critical national assets. By accelerating broadband access, Project BRIDGE is expected to unlock opportunities across sectors including education, healthcare, agriculture, commerce and the wider innovation ecosystem.

Under the arrangement, Quest Merchant Bank will support the minister and the project team in establishing a financially robust Special Purpose Vehicle. This will involve shortlisting qualified private sector partners to collaborate with the Nigerian government, with backing from international institutions including the World Bank, African Development Bank and European Bank for Reconstruction and Development, to deliver a private sector-led wholesale open access fibre company.

The project is targeting the establishment of the Special Purpose Vehicle and groundbreaking by the third quarter of 2026.