Business & Economy

MTN Nigeria to Build New Headquarters in Eko Atlantic City

Published

22 hours ago

Mar 14, 2025.

MTN Nigeria CEO Karl Toriola announced on Wednesday that the company’s new headquarters will be situated in Eko Atlantic, reaffirming the telecom giant’s commitment to its initial plans announced four years ago.
The company joins the growing trend of major corporations, including First Bank and Dangote Group, relocating to the emerging 10-square-kilometer coastal city.
MTN CEO Karl Toriola did not disclose construction costs, sources estimate the investment to be in the millions of dollars.

In a significant move, MTN Nigeria, the country’s largest mobile network operator, has confirmed plans to build its new headquarters in Eko Atlantic.

Eko Hot Blog gathered that the decision follows a growing trend of major corporations, including First Bank and Dangote Group, relocating to the emerging 10-square-kilometer coastal city.

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The United States Embassy has also chosen Eko Atlantic for its new diplomatic facility, reflecting the city’s appeal as a high-end, well-planned hub for businesses and organizations.

MTN Nigeria CEO Karl Toriola announced on Wednesday that the company’s new headquarters will be situated in Eko Atlantic, reaffirming the telecom giant’s commitment to its initial plans announced four years ago.

As the first telecom operator to establish a presence in this promising business district, MTN’s move signals confidence in Eko Atlantic’s potential as a premier destination for Nigerian and international businesses alike.

“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.

The Eko Atlantic City project, launched in 2008, aims to create a state-of-the-art commercial hub adjacent to Victoria Island, Lagos’ main business district.

While CEO Karl Toriola did not disclose construction costs, sources estimate the investment to be in the millions of dollars.

MTN Nigeria to Build New Headquarters in Eko Atlantic City

Land prices in Eko Atlantic City vary based on size, location, and intended use, with plots starting at approximately 2,200 square meters and priced from $1,050 to $1,150 per square meter.

Additional costs, such as agency and administrative fees, can further increase the total price per square meter.

In addition to its Eko Atlantic investment, MTN Nigeria is developing a Tier 4 data center on the Lagos mainland.

The carrier-neutral facility will accommodate 1,500 racks and enable interconnection between multiple Internet Service Providers (ISPs) and cloud service providers.

Toriola confirmed that the data center will not be located within Eko Atlantic but will play a crucial role in strengthening the region’s digital infrastructure and boosting connectivity.

Through these strategic investments, MTN Nigeria is demonstrating its commitment to advancing the nation’s technological capabilities and fostering economic development, contributing to the transformation of Lagos into a premier business hub in Nigeria and beyond.