With the global data centre market set to hit $517.17 billion valuation by 2030, the waves of investment inflow into various countries to claim a good share of the fortune are 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% 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%.
This forms the focus of the forthcoming Fourth Edition of the 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.
Anchored on the theme: “Mainstreaming Data Centres in the Nigerian Digital Economy,” the Fourth TSSF, slated for Thursday, October 5th, 2023 at The Colossus Hotel, Opebi-Sheraton Link Road, Ikeja, Lagos State, is designed to address various pressing subjects in the market.
The landmark 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 include; Prof. Umar Danbatta, Executive Vice Chairman of the Nigerian Communications Commission, who will deliver the Keynote address, Dr. Vincent Olatunji, National Commissioner at the Nigeria Data Protection Commission (NDPC), is also slated as a keynote speaker.
Other Speakers include; Engr 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, Smith Osemeke, Managing Director of Unitellas and Ezekiel Egboye, the Founding Executive and Chief Operating Officer of Rack Centre
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, emphasized the pivotal role data centres play in the digital era. Beyond data storage and accessibility, they underpin the digital world, fueling 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 4th 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.
Echoing expert opinions, Business Remarks Editor emphasized the strategic significance of data centres in propelling Nigeria’s digital economy towards sustainable growth.
“To secure a prosperous future and advance the nation’s digital economy agenda, we must turbocharge Nigeria’s digital infrastructure,” she added.