Nigeria Well-positioned To Benefit From $527bn Data Centre Market \u2013 Danbatta

According to market reports, the global data centre market valued at $187.35 billion in 2020 will reach $517.17 billion by 2030, registering a remarkable cumulative average growth rate of 10.5 per cent from 2021 to 2030. As many more data centres spring up in Nigeria and existing ones expand to play a backbone role in the country’s digital drive, the domestic data centre market is outpacing the global average in the growth projection at an estimated CAGR of 23.24 per cent.

He added that the implication of such investments on jobs in the construction, operation, and maintenance of these data centres can only be imagined, while noting that Africa has recently assumed a new frontier and compelling destination for global Big Tech players. “Meta, the parent company of Facebook, is equally on the threshold of launching its own subsea cable called 2Africa in 2024 to connect 16 African countries at an estimated cost of $1 billion. It is targeted to generate close to $36 billion of economic output within two to three years of operation.

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