Why Nigeria’s data centres have become a magnet for global investors – Rack Centre CEO

Rack Centre CEO Lars Johannisson says improved policymaking, falling inflation and FX stability are driving global investor interest in Nigeria’s data centre market, which has attracted over $1 billion in announced investments, Nairametrics reported.

Nigeria’s data centre market has attracted more than $1 billion in announced investments, driven by improved policymaking and economic stability, Rack Centre CEO Lars Johannisson told Nairametrics.

Johannisson estimated that about 70% of announced investments would materialise, though timelines could slip.

“I think over the last few years, we’ve seen a very solid performance by the nation in terms of policymaking, in terms of inflation going down and also in terms of FX stability,” he said.

He projected that Nigeria’s data centre capacity would grow from about 60 megawatts to 224 megawatts by 2032.

On the Central Bank of Nigeria’s January 2027 data localisation deadline, Johannisson said operators were ready to absorb demand from banks and fintechs.

“But on the receiving end, I would dare to say that we are ready to take it on,” he said.

He said Rack Centre’s facility is AI-ready and the company plans to source 20 to 45 per cent of its energy from renewables.w