African Export-Import Bank (Afreximbank)
Nigeria, EU, Euro Bank sign €14m agreement on Fibre-Optic Infrastructure
African Export-Import Bank (Afreximbank) is set to convene the sixth African Sub-Sovereign Governments Network (AfSNET) Investment Conference in Calabar, Cross River State, from November 12 to 14, 2026, to strengthen sub-national investment financing, industrialisation and intra-African trade.
The conference, organised in partnership with the Cross River State Government, Nigeria Governors’ Forum (NGF) and Forum of State Investment Promotion Agencies in Nigeria (FoSIPAN), will bring together Africa’s sub-national governments, investors, financial institutions and development partners to develop investment-ready projects and facilitate trade and investment opportunities across the continent.
The conference, scheduled to be held at the Calabar International Convention Centre, has as its theme, ‘The Role of Sub-Sovereigns in Catalysing Development Through Trade and Investment’.
MEANWHILE, the Federal Government of Nigeria, the European Union (EU) and the European Bank for Reconstruction and Development (EBRD) have signed a grant agreement to support the development of the country’s nationwide fibre-optic backbone.
The signing in Abuja yesterday marked a significant step towards expanding affordable broadband connectivity, strengthening institutional capacity, and accelerating Nigeria’s digital transformation.
Supported by the European Union and administered by the EBRD, the initiative provides up to €14 million to fund project scoping, fibre-optic network design, project preparation, and capacity building for Nigeria’s nationwide fibre-optic backbone programme.
he ceremony brought together representatives of the Federal Government, the European Union, the EBRD and other stakeholders committed to advancing Nigeria’s digital development agenda.
In his address, the Minister of Budget and Economic Planning, Senator Atiku Abubakar Bagudu, welcomed the participating delegations and emphasised the importance of the partnership among the Federal Government of Nigeria, the European Union and the EBRD in advancing the country’s digital infrastructure and economic development priorities.
In her remarks, the Permanent Secretary of the Federal Ministry of Budget and Economic Planning, Dr Deborah Odoh, described the signing of the grant agreement between the Federal Republic of Nigeria and the EBRD, supported by the European Union, as an important milestone in strengthening Nigeria’s digital infrastructure and implementation capacity.
In a virtual address, a representative of the Federal Ministry of Communications, Innovation and Digital Economy expressed appreciation to the European Union delegation, Nigerian partners, colleagues and other stakeholders for their contributions to the successful organisation of the signing ceremony.
