Lagos, Nigeria's commercial capital, is rapidly emerging as a major data centre hub in Africa, with investors racing to tap into the city's unique advantages. By 2027, Lagos' data centre capacity is expected to reach 80 megawatts (MW), making it the second-largest hub on the continent, just behind Johannesburg's 200MW capacity.

The city's fast internet connectivity, courtesy of eight submarine internet cables, including Google's Equiano and 2Africa, is a major draw for investors. The proximity of data centres to these underwater lifelines enables quicker data transfer rates, making Lagos an attractive location for companies seeking to establish a strong online presence. According to Ayotunde Coker, CEO of Open Access Data Centre (OADC), "It's all about infrastructure and proximity to landing stations."

Lagos Island is particularly sought after, with 10 of Nigeria's 16 data centres already located in Victoria Island, Lekki, and Eko Atlantic City. New facilities, including Equinix's 20MW facility, Nxtra by Airtel's 38MW centre, and OADC's 24MW hub, are in the works, set to push Nigeria's total capacity to 200MW.

In addition to its fast internet, Lagos also boasts a relatively steady power supply, with Victoria Island and Lekki receiving up to 20 hours of electricity daily. This, combined with access to coastal waters for cooling, makes the city an ideal location for data centres. As investors continue to flock to Lagos, the city's digital infrastructure is expected to receive a significant boost, positioning Nigeria as a major player in Africa's tech landscape.

In related news, Nigeria's cNGN stablecoin is seeking to expand its reach by listing on more crypto exchanges. The coin, which has already been listed on Busha and Quidax, is in talks with platforms like Yellow Card and Roqqu to increase its visibility and accessibility. The success of cNGN will depend on its ability to attract more users and overcome the classic network effects problem.

Meanwhile, BYD, a Chinese automaker, has launched its electric vehicle (EV) models in Nigeria, marking a significant milestone for the country's EV adoption. The launch, in partnership with LOXEA Nigeria, is expected to encourage investment in charging infrastructure, making EVs more viable in the long run. Affordability and government policies will play a crucial role in determining the success of BYD's venture in Nigeria.

In other tech news, AI-powered crowdfunding app OneKitty has been making waves in Africa, enabling groups to pool money for loans, investments, or emergencies. The app, which has handled over 10,000 campaigns for 200,000 Kenyans, provides real-time updates on contributions and enables payment through mobile wallets like M-Pesa and Airtel Money.

As the tech landscape in Africa continues to evolve, Lagos' emergence as a data centre hub is expected to have far-reaching implications for the continent's digital economy. With investors and innovators flocking to the city, Nigeria is poised to become a major player in the global tech industry.