MTN Nigeria, the country’s largest telecommunications provider, has announced plans to build its new corporate headquarters in Eko Atlantic City, Lagos.
This move places MTN among a growing list of major companies, including First Bank and Dangote Group, that are relocating to the 10-square-kilometer urban development. The United States Embassy is also constructing a new diplomatic complex in the city, attracted by its modern infrastructure and strategic business environment.
Karl Toriola, CEO of MTN Nigeria, confirmed the company’s decision during a recent event in Lagos, marking a significant step toward reinforcing MTN’s long-term investment in the state. The announcement comes four years after MTN initially revealed plans to establish a new head office. “Beyond providing connectivity, we are committed to long-term investments in Lagos. We have acquired land in Eko Atlantic City and will begin construction once we have the necessary equipment,” Toriola said.
Launched in 2008, Eko Atlantic is positioned adjacent to Victoria Island, Lagos’ central business district. Designed to be Nigeria’s most advanced commercial and residential hub, it offers cutting-edge infrastructure, well-planned urban layouts, and premium office spaces — features that continue to attract top corporations and investors.
Though Toriola did not disclose the construction cost of MTN’s headquarters, real estate experts estimate that land and development expenses run into millions of dollars, depending on the location and project scope.
Land prices in Eko Atlantic are segmented into three development phases; Phases 1 and 2, designated for mid- and high-rise structures, offer plots starting at approximately 2,200 square meters, priced from $1,150 per square meter while phase 3, intended for low-rise residential buildings, begins with plots of 1,200 square meters, starting at $1,050 per square meter.
Additional costs, such as agency and administrative fees, can push total costs higher. For example, a 3,336 square-meter plot was recently listed for ₦5 billion (approx. $1,200 per square meter) on property listing platforms.
Beyond its new headquarters, MTN Nigeria is also developing West Africa’s largest Tier 4 data center in Lagos. This state-of-the-art facility, which will host 1,500 racks, is designed to operate as a carrier-neutral hub, enabling multiple internet service providers (ISPs) and cloud service providers to connect seamlessly.
While the data center will not be located within Eko Atlantic, it will be built on the Lagos mainland, further diversifying MTN’s footprint across the state. “With seven layers of connectivity, this facility will become the most advanced data hub in the region, reinforcing Nigeria’s leadership in digital transformation,” Toriola emphasized.
MTN’s dual investments — in corporate infrastructure and digital technology — underscore its commitment to Lagos as a growing center of commerce and innovation. As Lagos continues to attract both multinational corporations and government bodies, developments like Eko Atlantic are helping to reshape the city’s skyline and economic future.
MTN’s presence in Eko Atlantic will likely enhance the city’s status as a premier destination for business, paving the way for more local and international investments.
