American multinational payment card services corporation, Visa Inc., has announced plans to establish data centre infrastructure in Nigeria, as part of its ongoing investments in the country. This development was disclosed during a courtesy visit by Visa’s delegation to Vice President Kashim Shettima at the Presidential Villa in Abuja.

Leading the delegation, Andrew Torre, Visa’s Regional President for Central, Eastern Europe, Middle East, and Africa (CEMEA), highlighted the company’s commitment to Nigeria, including its $1 billion investments in the country. These investments include a significant technological partnership with MoniePoint to foster digital payment solutions, a $200 million investment in Interswitch, and a collaboration with ThriveAgriculture to empower smallholder farmers and enhance food security.

Boosting Nigeria’s Digital Economy

Torre explained that the proposed data centre infrastructure aims to introduce new technologies into the Nigerian market, further strengthening the nation’s growing digital economy. He noted that partners like Hugo and Samsung rely on Visa’s technologies to launch mobile payment services, creating a more competitive and cost-effective market.

“Visa Inc. has been making investments and will continue to make these investments in Nigeria,” Torre said. “The plan to site data centre infrastructure is aimed at bringing new technologies into the Nigerian market that would bolster the nation’s growing digital economy.”

Vice President Shettima’s Response

In his remarks, Vice President Shettima assured Visa of the Nigerian government’s continued support and partnership. He applauded Visa for its investments, particularly in ThriveAgriculture, emphasizing the administration’s commitment to repositioning the agriculture sector as part of President Bola Ahmed Tinubu’s 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 really keen on repositioning the agriculture industry here, and we have to invest in technology, we have to invest in modernization,” Shettima stated.

He added, “If we must improve on agriculture, we must embrace modernity, improve agricultural prices, seeds, fertilization, and intermediate technology. ThriveAgriculture is a company that has a focus on food security, providing up-to-date data to our farmers. And be rest assured that the patronage, the partnership between the government of Nigeria and Visa will only grow by leaps and bounds.”

Call for Further Investment

Shettima also urged Visa to invest in the Outsource to Nigeria Initiative, a federal government program aimed at facilitating access to finance for the creative sector. This, he noted, would further boost Nigeria’s digital and creative economy.

Visa’s Delegation

The Visa delegation included Andrew Uaboi, Senior Vice President and Head of Western and Central Africa, and Chidozie Arinze, Vice President and Head of West Africa.

A Promising Partnership

Visa’s planned investments and technological advancements underscore its confidence in Nigeria’s economic potential. As the country continues to embrace digital transformation, collaborations like these are expected to drive innovation, financial inclusion, and sustainable growth.