Quest Merchant Bank has been appointed as the Transaction Advisor for Project BRIDGE, a N2.71tn national broadband initiative, in a move set to redefine Nigeria’s infrastructure investment landscape.
Tasked with structuring a world-class Special Purpose Vehicle, the bank will bridge the gap between public policy and private capital to deploy 90,000 kilometres of open-access fibre-optic cable.
This flagship initiative, led by the Honourable Minister of Communications, Innovation and Digital Economy, Dr ’Bosun Tijani, is designed to strengthen Nigeria’s digital backbone and ensure inclusive economic growth.
As the lead Transaction Advisor, Quest Merchant Bank is tasked with structuring the project’s financial and commercial framework, including the design of a Public-Private Partnership model to attract the necessary capital.
The Acting Managing Director and Chief Executive Officer of Quest Merchant Bank, Afolabi Olorode, emphasised the transformative nature of the mandate. “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 Federal Ministry of Communications, Innovation and Digital Economy 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,” Olorode stated.
The project aligns with President Ahmed Tinubu’s ‘Renewed Hope’ agenda, which prioritises technology-driven productivity and private-sector engagement for national assets. Supporting this vision, the Head of Investment Banking at Quest Merchant Bank, Yetunde Falore, noted that the timing is perfect for such a massive infrastructure rollout.
“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 are proud to bring in our expertise to help drive a timely, efficient and successful project delivery,” Falore remarked.
The financial architecture of the project involves the creation of a Special Purpose Vehicle to house a world-class, private-sector-led wholesale open-access fibre company.
This structure is expected to be backed by global heavyweights, including the World Bank, the African Development Bank, and the European Bank for Reconstruction and Development. By shortlisting qualified private sector participants to partner with the Nigerian government, Quest Merchant Bank aims to ensure the project is both bankable and sustainable over the long term.
With the groundbreaking ceremony targeted for the third quarter of 2026, the initiative is expected to bridge the connectivity gap in underserved regions, directly impacting sectors such as healthcare, education, and agriculture. The bank confirmed its commitment to disciplined execution, noting that a successful rollout will provide the essential infrastructure required for the wider innovation ecosystem to thrive.
The Federal Government has tapped Quest Merchant Bank to drive the N2.71tn Project BRIDGE initiative. The partnership marks a decisive shift towards private-sector-led development of critical national assets, with the bank overseeing the selection of qualified partners for a wholesale open-access fibre company.
By securing the digital backbone of the nation, Quest Merchant Bank is helping to lay the foundation for a technology-driven transformation that will impact education, healthcare, and commerce nationwide.
