Investors Target Nigeria's Growing Data Infrastructure Market

Investors are showing growing interest in Nigeria’s data infrastructure market as the country aims to enhance local data management and digital capacity, according to Professor Ibrahim Adeyanju, Managing Director of Galaxy Backbone. This statement was made during discussions regarding the Central Bank of Nigeria’s new data localization mandate, which mandates that banks and regulated financial institutions must store and process payment transaction data within Nigeria starting January 2027.

Adeyanju indicated that this policy, along with the increasing demand for cloud computing, artificial intelligence, and digital services, is creating investment opportunities in Nigeria's data infrastructure ecosystem. He mentioned that several global hyperscalers and technology infrastructure companies have expressed interest in Nigeria, although specific names were not disclosed.

The CBN's directive is expected to boost demand for domestic data centers and secure digital infrastructure as financial institutions adapt to comply with the new regulations. Adeyanju emphasized that Nigeria's expanding digital economy and reliance on technology services position the country as an attractive destination for digital infrastructure investment.