MTN Nigeria, the country’s largest mobile network operator, has announced plans to construct its new headquarters in Eko Atlantic, joining other major corporations such as First Bank and Dangote Group that are relocating to the 10-square-kilometre city. The United States Embassy is also developing a new diplomatic facility in Eko Atlantic, attracted by its high-end infrastructure, modern office spaces, and well-planned layout.
Speaking at the MyLagosApp launch event in Lagos, MTN Nigeria CEO Karl Toriola confirmed that the company’s new head office would be situated in Eko Atlantic, four years after initially announcing plans for a new headquarters. MTN is the first telecoms operator to build in the coastal city, reinforcing its confidence in Eko Atlantic’s potential as one of Nigeria’s premier business hubs.
“Beyond connectivity, we are committed to making long-term investments in Lagos. As part of this commitment, we have acquired land in Eko Atlantic City, and construction will commence once we have secured the necessary equipment,” Toriola stated.
Eko Atlantic: Nigeria’s Emerging Commercial Hub
Launched in 2008, Eko Atlantic is located adjacent to Victoria Island, Lagos’ main business district, and is designed to be the city’s most advanced commercial hub. With its modern infrastructure and strategic location, it is attracting multinational corporations, real estate investors, and high-profile organisations seeking a well-planned business environment.
While Toriola did not disclose the construction cost, sources familiar with the matter estimate the project to be worth millions of dollars.
Land prices in Eko Atlantic vary by size, location, and intended use, with the city divided into three phases:
- Phases 1 and 2 (designated for mid- to high-rise developments) have plot sizes starting at approximately 2,200 square metres, priced from $1,150 per square metre.
- Phase 3 (intended for low-rise residential houses) offers plot sizes from around 1,200 square metres, priced at $1,050 per square metre.
Additional agency and administrative fees can increase the total cost per square metre. For example, a 3,336 square-metre plot was recently listed for ₦5 billion (approximately $1,200 per square metre) on propertypro.ng.
MTN’s Investment in Digital Infrastructure
In addition to its new headquarters, MTN Nigeria is also constructing West Africa’s largest Tier 4 data centre in Lagos. This state-of-the-art facility will accommodate 1,500 racks and operate as a carrier-neutral hub, allowing multiple Internet Service Providers (ISPs) and cloud service providers to interconnect.
However, Toriola confirmed that the data centre will not be located within Eko Atlantic but on the mainland of Lagos.
“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,” Toriola stated.
Strengthening Lagos as a Global Business and Technology Hub
With MTN’s expansion into Eko Atlantic and its investment in digital infrastructure, the company is reinforcing Lagos’ status as a thriving commercial and technological hub. As more major corporations and diplomatic missions establish themselves in the city, Eko Atlantic continues to shape the future of business in Nigeria
