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MTN Nigeria joins big firms relocating headquarters to Eko Atlantic

March 13, 2025

The country’s largest mobile network operator, MTN Nigeria joins big firms relocating headquarters to Eko Atlantic, including First Bank and Dangote Group.

The United States Embassy is also developing a new diplomatic facility in Eko Atlantic, drawn by its promise of high-end infrastructure, modern office spaces, and a well-planned city layout.

MTN Nigeria CEO Karl Toriola confirmed on Wednesday that the company’s new headquarters will be situated in Eko Atlantic, four years after first announcing plans to build a new head office. MTN is the first telecom operator to build in the coastal city, signaling confidence in its potential as one of the premier business hubs in Nigeria.

“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 said at the MyLagosApp launch event in Lagos.

Eko Atlantic City was launched in 2008, with land reclamation starting the same year. Located next to Victoria Island, Lagos’ main business district, it aims to become the city’s most advanced commercial hub.

With its modern infrastructure and strategic location, Eko Atlantic is attracting corporations, real estate investors, and high-profile organizations looking for a well-planned business environment.

Toriola did not disclose the construction cost, but sources familiar with the matter estimate it to be in the millions of dollars. Land prices in Eko Atlantic City—divided into three phases— vary based on size, location, and intended use.

Phases 1 and 2, designated for mid- to high-rise developments, have plot sizes starting at approximately 2,200 square meters with a starting price of $1,150 per square meter. Phase 3, intended for low-rise residential houses with plot sizes starting at around 1,200 square meters, is priced at $1,050 per square meter.

Additional costs such as agency and administrative fees can increase the total price per square meter. For instance, a 3,336 square-meter plot was listed on propertypro.ng for ₦5 billion, translating to about $1,200 per square meter.

MTN Nigeria is also constructing West Africa’s largest Tier 4 data center in Lagos. The facility will house 1,500 racks and operate as a carrier-neutral hub, allowing multiple Internet Service Providers (ISPs) and cloud service providers to interconnect. Toriola also confirmed to TechCabal that the data center will not be situated within Eko Atlantic but on the Lagos mainland.

“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 said.

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