MTN Nigeria Set to Move Headquaters to Eko Atlantic

MTN Nigeria is set to relocate its headquarters to Eko Atlantic, a rapidly developing coastal city designed to be Nigeria’s most advanced business hub. This move places the telecom giant alongside notable companies like First Bank and Dangote Group, which have already established themselves in the 10-square-kilometre city. The U.S. Embassy is also constructing a new diplomatic facility in the area, drawn by its modern infrastructure and strategic planning.

MTN Nigeria’s CEO, Karl Toriola, officially confirmed the move during the MyLagosApp launch event in Lagos. He explained that the company had acquired a piece of land in Eko Atlantic City, with plans to begin construction once essential equipment is secured. “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,” Toriola stated.

Launched in 2008 and adjacent to Victoria Island, Lagos’ main business district, Eko Atlantic is designed to attract corporations, investors, and high-profile organisations. Its appeal lies in the city’s promise of high-end infrastructure and well-organised layout, making it a prime location for major companies looking to establish a strong presence in Nigeria.

High Stakes and Investment Costs

While Toriola did not reveal the exact cost of the project, insiders estimate it to be worth millions of dollars. The value of land in Eko Atlantic City is determined by various factors such as size, location, and intended use. The city’s development is divided into three phases:

Phases 1 and 2 are intended for mid- to high-rise developments, with plot sizes starting at approximately 2,200 square metres, priced from $1,150 per square metre.

Phase 3 focuses on low-rise residential houses, with plot sizes starting at around 1,200 square metres, priced from $1,050 per square metre.

Additional costs, including agency and administrative fees, can further increase prices. For example, a 3,336 square-metre plot listed on propertypro.ng was priced at ₦5 billion, equating to around $1,200 per square metre.

MTN’s Data Hub Expansion

Aside from the new headquarters, MTN Nigeria is working on building West Africa’s largest Tier 4 data centre in Lagos. Designed to accommodate 1,500 racks, the facility will function as a carrier-neutral hub, enabling multiple Internet Service Providers (ISPs) and cloud service providers to interconnect. However, this data centre will not be situated within Eko Atlantic but will instead be located on the Lagos mainland.

Commenting on the project, Toriola said, “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’s decision to move to Eko Atlantic signals a strong endorsement of the city’s potential as a premier business hub. The relocation could spark increased interest from other companies looking to establish a presence in this well-planned, fast-growing urban area.