MTN Nigeria, the country’s largest mobile network operator, has confirmed plans to build its new headquarters in the rapidly developing Eko Atlantic City, located along Lagos’ coastline. This move places MTN among other big-name companies, such as First Bank and Dangote Group, which have also chosen the area for their operations, attracted by the city’s high-end infrastructure and strategic location.
The United States Embassy is also building a new diplomatic facility in the area, further cementing Eko Atlantic as a rising hub for businesses and organizations. MTN Nigeria’s Chief Executive Officer, Karl Toriola, made the announcement on Wednesday at the launch of the MyLagosApp in Lagos, revealing that the company had acquired land in Eko Atlantic for its new headquarters.
“We are committed to making long-term investments in Lagos. Beyond connectivity, we have acquired a piece of land in Eko Atlantic City, and we will commence construction once we have secured the necessary equipment,” Toriola said.
Eko Atlantic City, launched in 2008 with land reclamation starting the same year, is positioned next to Victoria Island, Lagos’ main business district. The city is designed to be a modern, well-planned commercial hub, with cutting-edge infrastructure aimed at attracting global businesses. As more companies relocate to Eko Atlantic, the city is emerging as one of Nigeria’s most promising business districts, providing state-of-the-art office spaces, a world-class environment, and a strategic location close to major commercial areas in Lagos.
For MTN Nigeria, Eko Atlantic offers the opportunity to build a headquarters that matches the company’s aspirations for growth and development in the country. MTN’s decision to build its headquarters in Eko Atlantic marks a significant milestone as it becomes the first telecommunications company to invest in the coastal city. This move signals MTN’s confidence in Eko Atlantic’s potential as a key business center in Nigeria.
Toriola did not reveal the construction costs for MTN’s new headquarters, but sources familiar with the project estimate it will cost several million dollars. Property prices in Eko Atlantic vary depending on the phase, location, and intended use of the land. The city is divided into three phases, with Phases 1 and 2 designed for mid- to high-rise developments. In these phases, land starts at about 2,200 square meters with a price tag of $1,150 per square meter. Phase 3, intended for residential development, has land sizes starting at around 1,200 square meters and a starting price of $1,050 per square meter.
For example, a 3,336 square-meter plot was listed for ₦5 billion, or about $1,200 per square meter, on property platforms like propertypro.ng. These figures indicate the high demand for space in Eko Atlantic, a trend likely to continue as more companies look to set up offices in the area.
Alongside its headquarters in Eko Atlantic, MTN Nigeria is also investing in West Africa’s largest Tier 4 data center, set to be located in Lagos. The data center, which will be built on the Lagos mainland, will be a critical part of MTN’s strategy to strengthen Nigeria’s position in digital transformation. Once complete, it will house 1,500 racks and operate as a carrier-neutral hub. This means it will provide interconnectivity for multiple Internet Service Providers (ISPs) and cloud service providers, positioning Nigeria as a leader in digital services and infrastructure.
Toriola shared with TechCabal that the data center will feature “seven degrees of connectivity,” making it one of the most advanced digital hubs in the region. He emphasized that the data center would play an essential role in supporting Nigeria’s growing digital economy.
“This facility will be the most sophisticated data hub in the region,” Toriola said. “It will significantly contribute to the expansion of digital services in Nigeria and West Africa.”
Eko Atlantic’s growth has been impressive since its conception. The city is built on land reclaimed from the Atlantic Ocean and is being developed with world-class infrastructure designed to meet the needs of both businesses and residents. The city is equipped with modern amenities, including state-of-the-art roads, electricity, water systems, and telecommunications infrastructure, making it an attractive destination for global businesses.
Besides MTN, major companies such as First Bank, Dangote Group, and the United States Embassy have already committed to building or relocating their operations to Eko Atlantic. These investments highlight the confidence that local and international organizations have in the city’s potential as a premier business hub.
Eko Atlantic is planned to have office spaces, commercial complexes, residential areas, and recreational facilities. The city’s developers have positioned it as an ideal location for multinational corporations and embassies looking for modern office spaces that can cater to the demands of a fast-growing, competitive business environment.
The development of Eko Atlantic is expected to help boost Nigeria’s economy by attracting foreign investments, creating jobs, and facilitating the growth of various industries, including real estate, telecommunications, banking, and trade. As the city continues to expand, it could become one of the most sought-after business destinations in Africa, with more global companies likely to join the list of those already establishing a presence there.
The expansion of Eko Atlantic reflects Lagos’ ambition to solidify its position as a leading financial and business center not just in Nigeria, but across Africa. With its modern infrastructure, strategic location, and emphasis on sustainability, the city is positioning itself as a forward-thinking development that will drive economic growth for years to come.
For companies like MTN, the relocation to Eko Atlantic is a statement of long-term commitment to Nigeria’s business landscape. The move also aligns with MTN’s broader strategy of investing in infrastructure and technology to strengthen its services and contribute to Nigeria’s digital economy.
As one of the largest telecom operators in Nigeria, MTN has been making significant investments in the country’s technology sector. The construction of the new headquarters in Eko Atlantic is part of this broader vision of ensuring that MTN remains at the forefront of Nigeria’s digital transformation.
