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Nigeria’s $1 Trillion Economy Goal Hinges on Digital Infrastructure, Experts Say

At a recent summit on the implementation of Nigeria’s Critical National Information Infrastructure (CNII) framework, industry leaders highlighted the vital role of digital infrastructure in achieving the country’s $1 trillion economy ambition.

During a panel session titled Appraisal of Data Centre Infrastructure Risks in the Scheme of CNII Implementation, experts emphasized the need for increased investments in data centers, broadband expansion, and cybersecurity to drive economic growth.

Among the panelists were Dr. Ayotunde Coker, CEO of Open Access Data Centre (OADC); Lars Johannisson, CEO of Rack Centre; and Abayomi Adebanjo, Director of Legal (Global and Regional Business Affairs) at Equinix. They stressed that Nigeria’s digital economy relies on resilient infrastructure, efficient energy integration, and sound policy execution.

Dr. Coker underscored the importance of connectivity, data centers, and power alignment to ensure digital resilience. He noted that recent efforts to enhance connectivity—such as Meta’s subsea cable projects—are promising, but urged the government to accelerate upgrades to aging subsea cables and expand fiber optic infrastructure.

He emphasized that a 10% increase in broadband penetration could contribute to a 2.5% GDP boost. However, with South Africa hosting 50% of Africa’s data centers, he called for more investments to position Nigeria as a competitive digital hub.

Johannisson echoed these sentiments, warning that execution remains a significant challenge. He stressed that efficient asset protection policies are essential for attracting foreign investments, revealing that each megawatt of data center capacity requires €12-15 million in investment, with 70 megawatts currently in development. He also pushed for decentralizing data centers beyond Lagos to improve accessibility and affordability.

“If inefficiencies drive up costs, digital services will remain out of reach for many Nigerians,” Johannisson cautioned, adding that cost-effective investments are crucial to achieving Nigeria’s 80% broadband penetration target by 2030.

Adebanjo, addressing digital infrastructure security, warned of rising cyber threats and vulnerabilities within Nigeria’s CNII framework. He urged the government to enforce stricter security measures and address issues like fiber cable theft, which deter investors.

Recognizing the high power demands of data centers—comparable to large industrial operations—he advocated for policy incentives, including special economic zones for data centers and priority access to electricity.

“Ireland has successfully leveraged stable regulations and a reliable power supply to attract foreign investment. Nigeria must adopt similar strategies,” he advised.

The Policy Implementation Assisted Forum (PIAFo) discussions reinforced that Nigeria’s journey toward a $1 trillion economy is directly tied to the growth of its digital infrastructure.

Convener Omobayo Azeez emphasized the need for collaboration between stakeholders to protect existing assets and attract new investments.

With increased broadband penetration, strategic investments, and supportive government policies, Nigeria is at a pivotal moment in its digital transformation—one that will shape its economic future for decades.

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