In a significant boost to Nigeria’s digital economy, Visa Inc., the American multinational payment card services giant, has announced plans to set up a data centre infrastructure in the country.
The development was revealed by Nigeria’s Vice President, Kashim Shettima, on his official X account, following a high-profile meeting at the Presidential Villa in Abuja.
Andrew Torre, Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa, confirmed the company’s plans during a courtesy visit to the Vice President.
“Visa Inc. has updated Vice President Kashim Shettima on plans to site data centre infrastructure in Nigeria,” Torre stated. The move is part of Visa’s broader investment strategy in the Nigerian market, where the company has already committed over $1 billion.
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Visa has been actively expanding its presence in Nigeria through key technological partnerships aimed at fostering digital payments and financial inclusion.
Notable collaborations include a major deal with Moniepoint to enhance digital transactions, a $200 million investment in Interswitch to improve payment processing, and a partnership with ThriveAgric to support smallholder farmers and strengthen food security.
Reaffirming Visa’s long-term commitment to Nigeria, Torre emphasized the company’s dedication to continuous investments in the country.
“Visa has been making investments and will continue to make these investments in Nigeria,” he said. The planned data centre is expected to introduce cutting-edge technology that will further propel Nigeria’s digital transformation.
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Vice President Shettima welcomed Visa’s investment initiative, assuring the corporation that its partnership with the Nigerian government will continue to thrive. He also praised Visa’s involvement in the agricultural sector, particularly its collaboration with ThriveAgric, aligning with the administration’s vision for economic growth.
“Nigeria is where the action is. Out of the top ten fintech companies in Africa, eight are in Nigeria, with Moniepoint being the latest addition,” Shettima noted.
“Agriculture is a key pillar of President Bola Ahmed Tinubu’s 8-point agenda. The administration is committed to repositioning the agriculture industry, and we must invest in technology and modernization to drive this transformation.”
Visa’s decision to establish a data centre in Nigeria not only reflects the country’s growing influence in the global fintech landscape but also underscores the confidence of international corporations in Nigeria’s economic potential.
As digital payments continue to gain traction, the investment is expected to create job opportunities, enhance financial inclusion, and accelerate innovation within the country’s financial ecosystem.
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