Forum positions Nigeria for data centre sector’s $517bln global boom

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With the global data centre market set to hit $517.17 billion valuation by 2030, the wave of investment inflow into various countries to claim a good share of the fortune is gaining momentum in Nigeria.

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 (CAGR) of 10.5 percent from 2021 to 2030.

As many more data centres spring up in Nigeria and existing ones expand to play backbone role in the country’s digital drive, the domestic data centre market is outpacing global average in the growth projection at an estimated CAGR of 23.24 percent.

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This forms the focus of the forthcoming fourth edition of Telecoms Sector Sustainability Forum (TSSF) organised by Business Remarks to stimulate dialogue that will enable Nigeria to further benefit optimally from the global boom.

The report by XXX identified a significant data centre shortage across the African continent.

Presently, there are only 86 colocation data centres in 15 African countries, with the majority concentrated in the Big Four—South Africa, Egypt, Nigeria and Kenya.

With the theme, ‘Mainstreaming Data Centres in the Nigerian Digital Economy,’ the fourth TSSF, slated for October 5, at The Colossus Hotel, Ikeja, Lagos, is designed to address various pressing subjects in the market.

The event is poised to bring together data centre operators, regulators, industry players, stakeholders and enthusiasts under one roof to delve into the pivotal role of data centres in the evolving landscape of the Nigerian digital economy.

Distinguished speakers scheduled to address the forum are Professor Umar Danbatta, Executive Vice Chairman of the Nigerian Communications Commission, who will deliver the keynote address and Dr Vincent Olatunji, National Commissioner at the Nigeria Data Protection Commission (NDPC) is also slated as a keynote speaker.

Other speakers include Mr Ikechukwu Nnamani, Chief Executive Officer of Medallion Data Centres, who will serve as the lead speaker; Dr Ayotunde Coker, CEO of Open Access Data Centres and Smith Osemeke, Managing Director of Unitellas.

The event will tackle the ever-expanding data centre market, fuelled by a surge in investments, the rapid growth of cloud and content providers, on-premises migration to cloud/colocation facilities, the blossoming fintech and e-commerce sectors and the insatiable demand for data.

Speaking about the event, Bukola Olanrewaju, the convener and Managing Editor of Business Remarks, stressed the pivotal role data centres play in the digital era, saying eyond data storage and accessibility, they underpin the digital world, fuelling economic growth, environmental sustainability and data security.

Olanrewaju highlighted the exponential growth of data centres across Africa as evidence of the continent’s determination to embrace the digital age, underscoring the need for robust infrastructure.

TSSF 4.0 aims to address Nigeria’s digital infrastructure and accessibility challenges, fostering a sustainable and inclusive economic environment. The forum will provide a platform for stakeholders to address industry challenges, identify growth opportunities and navigate the rapidly-evolving landscape of the Fourth Industrial Revolution (4IR).

Moreover, Olanrewaju noted that the demand for data centre space is poised to soar across multiple sectors, including technology, telecoms, banking, financial services, insurance (BFSI), healthcare, transportation and heavy industries.