In a move to strengthen Nigeria’s position as a leading hub for digital innovation in Nigeria, Visa Inc., an American multinational payment card services corporation, has announced plans to establish a state-of-the-art data centre in the country.
This development was made known in a statement posted on the official X (formerly Twitter) account of Nigeria’s Vice President Kashim Shettima.
The statement revealed that the agreement to establish a data centre in Nigeria was reached during a courtesy visit by Andrew Torre, Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa, to Shettima at the Presidential Villa in Abuja.
It was gathered that during the meeting, Torre highlighted that the new data centre will introduce cutting-edge technologies to the Nigerian market, aiming to accelerate digital transformation and support the nation’s burgeoning fintech ecosystem.
According to Torre, Visa’s investment in Nigeria has exceeded $1 billion, including a $200 million stake in Interswitch, a strategic collaboration with Moniepoint to advance digital payment solutions, and a partnership with ThriveAgric to empower smallholder farmers and enhance food security.
He said that the data centre initiative marks a significant addition to this portfolio.
Torre emphasized that the facility will enable partners like Hugo and Samsung to leverage Visa’s technologies for launching competitive mobile payment services, further deepening financial inclusion across the country.
He asserted: “We’ve been making investments and will continue to do so in Nigeria. This data centre is about bringing new possibilities to a market that’s ready for the next stage of digital evolution.”
Shettima, in his response, welcomed Visa’s investment plans, assuring the corporation that the partnership between Visa and the Nigerian government “will continue to grow by leaps and bounds.”
He also commended Visa for its involvement in agricultural development through its partnership with ThriveAgric. He emphasized that the administration of President Bola Ahmed Tinubu is deeply committed to transforming Nigeria’s agricultural sector as part of its 8-point agenda.
“Nigeria is where the action is. Of the ten fintechs in Africa, about eight are in Nigeria, with Moniepoint as the newest addition. Agriculture is key to the 8-point agenda of the present administration. President Bola Ahmed Tinubu is keen on repositioning the agriculture industry here, and we have to invest in technology, we have to invest in modernisation,” the Vice President said.
The announcement has sparked optimism among industry experts, who see the data centre as a catalyst for Nigeria’s digital economy, which is already home to a vibrant startup scene and a youthful, tech-savvy population.
