Quest Merchant Bank Appointed Transaction Advisor for Nigeria’s Ambitious Project BRIDGE
Quest Merchant Bank has been selected as the Transaction Advisor for Project BRIDGE, a transformative broadband infrastructure initiative spearheaded by Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE). This landmark project, under the leadership of Honourable Minister Dr. Bosun Tijani, aims to significantly bolster the nation’s digital capabilities.
Project BRIDGE, an acronym for Broadband Infrastructure Development for Digital Economy, is strategically designed to fortify Nigeria’s digital backbone. The core of this initiative involves the ambitious deployment of approximately 90,000 kilometres of open-access fibre-optic cables across the entire country. The overarching goal is to dramatically enhance broadband penetration, solidify national connectivity, and foster widespread, inclusive economic growth driven by digital advancements.
Structuring the Future of Nigeria’s Digital Economy
In its capacity as Transaction Advisor, Quest Merchant Bank will collaborate closely with the FMCIDE and the dedicated Project Implementation Unit. Their primary responsibility will be to meticulously structure the financial and commercial framework of Project BRIDGE. This comprehensive mandate includes several key areas:
- Developing Bankable Investment Models: The bank will focus on creating investment models that are not only financially sound but also attractive to potential investors, demonstrating clear returns and long-term viability.
- Engaging Investors: A crucial aspect of the role involves actively engaging with a diverse range of potential investors, both domestic and international, to secure the necessary capital for the project’s successful execution.
- Designing a Public-Private Partnership (PPP) Structure: To ensure efficient implementation and long-term sustainability, Quest Merchant Bank will design a robust public-private partnership model. This will outline the roles, responsibilities, and risk-sharing mechanisms between the government and private sector entities involved.
A Critical Intervention for National Development
Afolabi Olorode, the acting managing director of Quest Merchant Bank, emphasized the profound significance of Project BRIDGE. He described it as a “critical intervention for Nigeria’s digital economy,” highlighting its role in strengthening the nation’s digital foundation and unlocking the vast opportunities inherent in the digital landscape.
“Project BRIDGE represents a critical step in strengthening Nigeria’s digital backbone and unlocking the immense opportunities within the country’s digital economy,” Olorode stated. “We are honoured to partner with the FMCIDE under the leadership of Honourable Minister, Dr. Bosun Tijani on this important initiative.”
He further elaborated on the bank’s commitment, noting that they would leverage their extensive expertise in infrastructure finance. “Our aim is to develop a robust and investable framework that will attract private capital and support long-term national development,” he added.
A Defining Moment for Digital Connectivity
Yetunde Falore, Head of Investment Banking at Quest Merchant Bank, echoed these sentiments, underscoring the pivotal moment Project BRIDGE represents for Nigeria’s digital future. “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,” Falore remarked.
Falore also stressed the bank’s dedication to ensuring the project’s successful and timely completion. In its advisory capacity, Quest Merchant Bank will prioritize the efficient delivery of Project BRIDGE, ensuring that its strategic objectives are met with precision and effectiveness.
The initiative directly aligns with the core tenets of President Bola Ahmed Tinubu’s “Renewed Hope” agenda. This agenda places a strong emphasis on the expansion of digital infrastructure and actively encourages private sector participation in the development and management of critical national assets, making Project BRIDGE a key component of the government’s forward-looking economic strategy. The successful implementation of this project is anticipated to catalyze innovation, create new economic avenues, and significantly enhance the quality of life for Nigerians through improved digital access and services.
