MTN Nigeria to Relocate Headquarters to Eko Atlantic City

MTN Nigeria plans to relocate its headquarters to Eko Atlantic City, joining other major companies attracted by modern infrastructure. This decision, confirmed by CEO Karl Toriola, underscores confidence in Eko Atlantic as a future commercial hub. The company is also building the largest Tier 4 data center in West Africa, enhancing Nigeria’s digital landscape.

MTN Nigeria, the nation’s largest mobile network operator, has announced plans to establish its new headquarters in Eko Atlantic City. This relocation aligns with a trend among major companies, including First Bank and Dangote Group, moving to the rapidly developing 10-square-kilometer area noted for its state-of-the-art infrastructure and modern office environments. The new US Embassy is also investing in Eko Atlantic, attracted by the city’s potential for high-end development.

MTN CEO Karl Toriola confirmed the news on Wednesday, four years after the initial announcement regarding the head office construction. As the first telecom operator to choose Eko Atlantic, MTN reflects a growing confidence in the area as an emerging business hub in Nigeria. Toriola remarked, “Beyond connectivity, we are committed to making long-term investments in Lagos,” emphasizing their development goals in the region.

Eko Atlantic City, which began land reclamation in 2008, is poised to establish itself as the premier commercial hub close to Victoria Island, Lagos’ primary business district. It attracts numerous corporations, real estate investors, and esteemed organizations seeking a well-designed and beneficial business setting.

Although Toriola did not disclose the exact cost for the new headquarters, estimates suggest it could reach millions of dollars. The pricing scale for land in Eko Atlantic is contingent on size, location, and use. Specifically, the first two phases cater to mid- to high-rise developments, with plot sizes starting at 2,200 square meters, costing about $1,150 per square meter. The third phase is geared toward low-rise residential houses priced at $1,050 per square meter.

Additional costs such as agency and administrative fees may augment the total expenses for acquiring land. For example, a 3,336 square-meter plot has been assessed on propertypro.ng at ₦5 billion, which is approximately $1,200 per square meter.

In conjunction with the headquarters, MTN Nigeria is constructing the largest Tier 4 data center in West Africa, to feature 1,500 racks and serve as a carrier-neutral hub for Internet Service Providers and cloud services. Toriola disclosed that this data center will not be located within Eko Atlantic but rather on the mainland of Lagos. He stated, “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 relocate its headquarters to Eko Atlantic signifies its confidence in the area’s potential as a leading business destination. This move, alongside the ambitious infrastructure developments and investments from other major firms and the US Embassy, indicates a promising future for Eko Atlantic City. Furthermore, the establishment of a significant data center enhances Nigeria’s position in the digital landscape, reinforcing the nation’s capacity for innovation and investment.

Original Source: techcabal.com