MTN Nigeria to build new HQ in Eko Atlantic

• Published On: 14 March 2025 at 19:07

MTN Nigeria, the country's largest mobile network operator, has announced plans to build a new headquarters in Eko Atlantic City, adding to the growing list of major corporations relocating to the ambitious 10-square-kilometer development.

The move places MTN alongside prominent firms such as First Bank and Dangote Group, while the United States Embassy is also building a new diplomatic facility in the city, drawn by the promise of high-end infrastructure, modern office spaces, and a carefully planned urban layout.

MTN Nigeria CEO Karl Toriola confirmed the decision on Wednesday, four years after the company first announced its plans to build a new headquarters. The telecom behemoth is the first operator in its industry to establish itself in Eko Atlantic, indicating strong belief in the city's potential as a premier business hub in Nigeria.

"Beyond connectivity, we are committed to making long-term investments in Lagos," Toriola stated at the MyLagosApp launch. "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."

Eko Atlantic City, which opened in 2008, is adjacent to Victoria Island, Lagos' main business district, and aims to become the city's most advanced commercial centre. With its modern infrastructure and strategic location on the Atlantic coast, the city has attracted corporations, real estate investors, and high-profile organisations looking for a safe and well-organised business environment.

While Toriola did not disclose the cost of MTN's new headquarters, sources familiar with the matter estimate that the construction will cost millions of dollars.

Land prices in Eko Atlantic vary according to phase and plot size. Phases 1 and 2, designed for mid- to high-rise developments, include plots starting at 2,200 square meters and priced at $1,150 per square metre. Phase 3, designed for low-rise residential properties, includes plots ranging from 1,200 square meters to around $1,050 per square metre.

Additional expenses, such as agency and administrative fees, can cause land prices to rise even more. A 3,336 square-meter plot was recently listed on propertypro.ng for ₦5 billion, or approximately $1,200 per square meter.

Along with its new headquarters, MTN Nigeria is building West Africa's largest Tier 4 data centre in Lagos. The facility, which can house 1,500 racks, will serve as a carrier-neutral hub, allowing multiple Internet Service Providers and cloud service providers to connect.

MTN's bold move into Eko Atlantic demonstrates the city's growing appeal as a forward-thinking business district — a symbol of Lagos' ambition to establish itself as a global commercial force.