Nigeria’s ambition to become Africa’s digital economy powerhouse now rests on a company that has yet to be legally incorporated.
The federal government expects to register the Special Purpose Vehicle (SPV) that will oversee Project BRIDGE by July 31, laying the legal foundation for one of Nigeria’s largest digital infrastructure projects. The incorporation date will not mark a public launch or the start of operations. Rather, it is the point at which the project company will formally come into existence, according to Jumoke Akande, Project Lead at the Project Implementation Unit, Federal Ministry of Communication, Innovation, and Digital Economy.
The company’s final legal name has not been disclosed. World Bank project documents currently refer to it as the “Project Company,” “Project BRIDGE SPV,” or simply the “SPV.”
“The final legal name of the SPV is confidential and has not yet been publicly disclosed,” Akande told TechCabal on Sunday. “For now, it is referred to in the relevant documents as the “Project Company”, the “Project BRIDGE SPV” or simply the “SPV”.”
Originally published by TechCabal.