Open Access Data Centres (OADC) has announced plans to invest $240 million in a new 24MW data centre situated in Nigeria’s capital, Lagos.
Although the company has yet to officially unveil the project, CEO Ayotunde Coker shared details during a recent event, indicating that the venture will be developed in two phases, with the first 12MW expected to be operational within the next 18 months.
Coker described the Lagos facility as a “game-changer for Nigeria’s digital economy,” emphasizing its hyperscale capacity and readiness for AI applications.
“This facility will be one of the largest and most advanced in West Africa, setting new benchmarks for scalability, resilience, and efficiency. It will ensure that Nigeria remains at the forefront of Africa’s data centre revolution,” said Coker.
The funding for the data centre will be sourced through a combination of equity and debt, with OADC collaborating with financial institutions such as the International Finance Corporation and Proparco. The company has also reportedly secured a sustainability-linked loan to support its initiatives.
Power for the data centre will primarily be drawn from Nigeria’s electricity grid. However, OADC is exploring additional options, including natural gas and renewable energy sources, to ensure a consistent and sustainable power supply.
“Renewable energy integration is a key focus,” said Coker, noting the constraints for on-site solar generation due to limited space. He mentioned that the company is evaluating power wheeling options to source hydroelectric and solar energy from external locations.
