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The African Development Bank (AfDB) has agreed to finance the $30 million Helios Telecom infrastructure project which consists of expansion of a shared telecommunication infrastructure network in Nigeria .  The provision of shared facilities by Helios Towers Nigeria (HTN) would ultimately provide the opportunity for wireless telecommunication operators to roll out their networks for a larger geographical coverage, while at the same time reducing their capital investments and operating costs. 
According to the company, the project is in line with priorities identified in the Nigeria Country Strategy Paper (CSP), namely; its second pillar aimed at stimulating non-oil growth through enhanced infrastructure and agricultural/rural development. 
By expanding the shared telecommunications network in Nigeria , the project will contribute to improving the business climate and stimulate non-oil growth and job creation, through private sector development. 
This project is also in line with the bank's 2008-2010 Information Communication Technology (ICT) Strategy, which sets out regional and national infrastructure as the first focal area. The ICT strategy paper highlights the need for investments across the whole supply chain, including international connectivity to the rest of the world, regional backhaul links that interconnect countries, national backbones that extend access beyond major cities, and last-mile connectivity to rural and underserved communities. 
The project also aligns with the bank's 2008-2012 medium-term strategy, which emphasizes the need for a stronger sectoral emphasis on infrastructure and private sector development, and for deeper engagement in middle-income countries.
 It also highlights the need for the bank to continue to strengthen its key partnerships with other DFIs. By building ICT infrastructure, the Project addresses one of the bank's key private sector objectives, which is to enhance the environment for private businesses to thrive.
 It is recognized that the use of mobile phones in Africa has widened markets, created better information flow, lowered transaction costs, and substituted for costly transportation. 
People in remote areas, where other forms of communication (such as postal systems, roads and fixed-line phones) are often poor, may be prepared to spend relatively large amounts of their revenue on telecommunications because it helps them to save money in other areas.