Lagos State has secured more than $1.2 billion in digital investments over the past five years, fueling its ambition to become West Africa’s leading tech hub.
The funds have been channeled into data centers, submarine cables, and digital networks, positioning the state as a prime destination for global technology firms.
Governor Babajide Sanwo-Olu disclosed the figures on Friday during a courtesy visit from the Nigerian Communications Commission (NCC) delegation, led by Executive Vice Chairman Aminu Maida. The governor highlighted that these investments align with his administration’s commitment to expanding digital infrastructure and enhancing connectivity for businesses and residents.
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“We have it on record that within five years of our administration, we have attracted investments in excess of $1.2 billion directly into the digital space, around building data centers, hyper-scale data centers, landing submarine cables, and creating a network of users and providers,” Sanwo-Olu stated.
Strengthening Lagos’ Digital Backbone
Sanwo-Olu emphasized that his administration is deepening its collaboration with NCC to enhance digital infrastructure across the state. This partnership aligns with the Education and Technology pillar of his THEMES+ agenda, ensuring that Lagos remains at the forefront of Africa’s digital transformation.
“We are committed to working with NCC to protect critical telecom infrastructure and expand the digital economy, which will directly benefit Lagos residents and businesses,” the governor added.
Aminu Maida, NCC’s Executive Vice Chairman, praised Lagos’ role in fostering a business-friendly environment for telecom operators and tech investors. “Lagos is a strategic partner in protecting digital infrastructure, easing Right of Way concerns, and ensuring seamless telecom operations,” he noted.
$7 Billion Economic Boost on the Horizon
Lagos’ expanding digital footprint is set to generate up to $7 billion in economic value, driven by new data centers in Lekki and Eko Atlantic. The state is also working to increase the tech sector’s contribution to GDP from 3% to 10%, a move expected to create thousands of jobs and boost innovation.
To support this growth, the Lagos State Ministry of Innovation, Science, and Technology recently completed the first phase of a 2,700-kilometer fiber optic network, designed to reduce internet costs and improve broadband access. A second phase, adding 3,300 kilometers, is in the pipeline to further enhance connectivity.
With a surge in global tech investments and supportive policies, Lagos is positioning itself as a major player in Africa’s digital economy. As Sanwo-Olu put it, “We are building a future where Lagos is not just Nigeria’s commercial capital, but also its tech powerhouse.”
