Lagos Govt Attracts $1b in Data Centre Investment – Hamzat

Lagos State government has attracted over $1 billion in data centre investment within the last one year.

The investment will enable local domicile of digital platforms and open the state for more digital technology opportunities.

The state’s Deputy Governor, Dr. Obafemi Hamzat, disclosed this at the Art Of Technology (AOT) Lagos 4.0, themed: ‘Talent Acceleration and a smarter Lagos.”

He said that the proliferation of the investment presented opportunities for talent development within the ecosystem.
Hamzat said that the entrepreneurial environment and the open support for technology informed the present administration’s increasing focus on innovation to drive value outputs for the state’s ecosystem.

He said that the state government was enthused to see the growth the ecosystem had experienced over the years.

He said: “Between 2019 and 2021, over a 120 per cent increase in Venture Capital (VC) inflow into Lagos was realised, resulting in $1.5 billion in VC funding in 2021 alone. We have records of over 2,000 startups creating and contributing value across fintech, agritech, construction, health and many others.

“All of this points to an open and enabling environment for the growth and proliferation of entrepreneurial activity within the technology ecosystem.”

On his part, Commissioner for Science and Technology, Hakeem Fahm, said for the state to experience total development throughout all facets of society, it is crucial to harness the youths’ energy in the appropriate way.

Fahm noted that the Lagos youths are undoubtedly the face of the state and nation in the future, adding that they are full of wonderful ideas and boundless energy.
He said that if given the correct platform and plenty of opportunities, the youths would be sure of shining like stars.

The commissioner further stated that the state government would henceforth focus on talent acceleration and a smarter Lagos, noting that the government is creating a 10-year roadmap to widening the talent acceleration pipeline to achieve talent sustainability that will deliver a smarter Lagos.