MTN Nigeria, the country’s largest mobile network operator, has announced plans to build its new headquarters in Eko Atlantic City, joining a 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, with the United States Embassy also constructing a new diplomatic facility within the city — drawn by its 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 revealed its intention to build a new head office. The telecom giant is the first operator in its industry to set up in Eko Atlantic, signaling strong confidence 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 said at the MyLagosApp launch event. “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.”
Launched in 2008, Eko Atlantic City sits adjacent to Victoria Island — Lagos’ main business district — and aims to become the city’s most advanced commercial center. With its modern infrastructure and strategic location along the Atlantic coast, the city has been attracting corporations, real estate investors, and high-profile organizations seeking a secure and well-organized business environment.
While Toriola did not disclose the cost of MTN’s new headquarters, sources familiar with the matter estimate the construction to run into millions of dollars.
Land prices in Eko Atlantic vary based on phase and plot size. Phases 1 and 2, designated for mid- to high-rise developments, feature plots starting at 2,200 square meters, priced from $1,150 per square meter. Phase 3, intended for low-rise residential properties, offers plots from 1,200 square meters at around $1,050 per square meter.
Additional expenses, including agency and administrative fees, can further push up land prices. For example, a 3,336 square-meter plot was recently listed on propertypro.ng for ₦5 billion — approximately $1,200 per square meter.
Alongside its new headquarters, MTN Nigeria is also constructing West Africa’s largest Tier 4 data center in Lagos. The facility, designed to house 1,500 racks, will operate as a carrier-neutral hub — allowing multiple Internet Service Providers and cloud service providers to interconnect.
MTN’s bold move into Eko Atlantic underscores the city’s growing appeal as a future-focused business district — a symbol of Lagos’ ambition to position itself as a global commercial powerhouse.
