Data localization to create new investment opportunities, says Galaxy Backbone MD

He believes the Central Bank of Nigeria's directive for payment firms to host transaction data locally is a strategic move to position Nigeria in the digital economy, enhancing digital sovereignty and regulatory oversight. Adeyanju noted that while Nigeria has made significant progress in data center and cloud capacity, continuous expansion and modernization are crucial to meet evolving demands driven by fintech, artificial intelligence, and the digitization of government services. Galaxy Backbone, with its Uptime Certified Tier III and Tier IV data centers, is acquiring a third world-class data center in Lagos to support this growth.

He emphasized that local hosting reduces latency, improves system performance, simplifies regulatory compliance, strengthens business continuity, and enhances customer confidence, leading to long-term value despite initial costs. Adeyanju highlighted the need for forward-looking policies, strategic investment in digital infrastructure and skills, and stronger collaboration between government, the private sector, academia, and development partners to build a data-driven economy. He stressed that trust is central to this, requiring resilient infrastructure, strong governance, continuous monitoring, and skilled personnel to a