MTN Nigeria is relocating its headquarters to Eko Atlantic City, following other major companies. CEO Karl Toriola emphasizes long-term investments in Lagos. The move positions MTN as the first telecom operator in this developing business hub, aligned with significant projects like West Africa’s largest Tier 4 data center.
MTN Nigeria, the largest mobile network operator in the country, is constructing its new headquarters in Eko Atlantic City, joining other major firms like First Bank and Dangote Group. This 10-square-kilometer area is attracting investments due to its advanced infrastructure, modern office spaces, and planned layout, with the United States Embassy also establishing a diplomatic facility there.
On Wednesday, CEO Karl Toriola revealed MTN’s headquarters will be situated in Eko Atlantic City, four years post-announcement of the initial plans. MTN’s move marks the first telecom operator to establish a presence in this coastal city, demonstrating confidence in its growth as a leading business hub in Nigeria.
Toriola stated, “Beyond connectivity, we are committed to making long-term investments in Lagos. As part of this commitment, we have acquired a piece of land in Eko Atlantic City, and we will commence construction once we have gotten the equipment.” This reflects the company’s strategy to enhance their operations in Lagos.
Launched in 2008, Eko Atlantic City was built through land reclamation efforts, becoming adjacent to Victoria Island, Lagos’ primary business district. Its modern infrastructure and strategic location are designed to establish a competitive commercial environment, attracting businesses and investors seeking a well-organized area.
Although Toriola did not disclose the specific construction cost for MTN’s new headquarters, estimates suggest it will reach millions. Eko Atlantic City’s land prices differ across three phases, with mid- to high-rise plots starting at approximately 2,200 square meters priced at $1,150 per square meter, and low-rise residential plots at around 1,200 square meters priced at $1,050 per square meter.
Additional costs, including administrative fees, may affect overall expenditures. For example, a 3,336 square-meter plot is listed for ₦5 billion, or roughly $1,200 per square meter.
Furthermore, MTN is working on constructing the largest Tier 4 data center in West Africa to be located on the Lagos mainland, which will feature 1,500 racks. This facility will function as a carrier-neutral hub, ensuring connectivity between various Internet Service Providers and cloud services. Toriola noted, “With seven degrees of connectivity, this facility will be the most sophisticated data hub in the region, further strengthening Nigeria’s position as a leader in digital transformation.”
MTN Nigeria is investing significantly in its future by relocating its headquarters to Eko Atlantic City, reflecting confidence in the area as a burgeoning business hub. With the construction of a major data center alongside the headquarters, MTN aims to enhance connectivity and digital infrastructure in Nigeria, solidifying its leadership in the telecommunications sector.
Original Source: techcabal.com
