Dangote plans new HQ in Eko Atlantic as FirstBank builds West Africa’s tallest tower

Key Points

• Africa’s richest man, Aliko Dangote, plans to move his industrial empire’s headquarters to Eko Atlantic City, reinforcing Lagos as Nigeria’s financial hub.
• FirstBank has begun construction on a 40-story, eco-friendly headquarters in Eko Atlantic, set to be West Africa’s tallest skyscraper at 252 meters.
• Eko Atlantic is emerging as Nigeria’s top business hub, drawing major corporations from traditional districts like Ikoyi and Victoria Island.

Africa’s richest man, Aliko Dangote, has announced plans to move the headquarters of his industrial empire to Eko Atlantic City, Lagos, further cementing the emerging district’s status as Nigeria’s financial hub.

Dangote commends FirstBank’s landmark headquarters

Speaking at the groundbreaking ceremony for FirstBank’s new eco-friendly headquarters, Dangote, whose fortune stands at $28.2 billion according to the Bloomberg Billionaires Index, praised the bank’s ambitious project and hinted at his own relocation.

“I will be here very soon,” Dangote said, addressing fellow billionaire Femi Otedola. “And I want to congratulate you on this groundbreaking ceremony.”

The event marked the start of construction on FirstBank’s 40-story Iconic Head Office Building, set to be West Africa’s tallest skyscraper at 252 meters. Designed with sustainability in mind, the tower will feature 115,000 square meters of built-up space, cutting operational costs while reinforcing FirstBank’s position as a leader in green banking.

Eko Atlantic’s emergence as Nigeria’s business hub

Eko Atlantic City, built on reclaimed land from the Atlantic Ocean, is rapidly transforming into the commercial heart of Lagos. Engineered to withstand extreme oceanic conditions, the district is expected to house at least 250,000 residents and accommodate 150,000 daily commuters.

For years, Nigeria’s corporate elite have been based in districts like Ikoyi and Victoria Island, but Dangote’s decision—alongside FirstBank’s relocation from Marina—signals a shift toward Eko Atlantic as the new center of business and finance.

Lagos State Governor Babajide Sanwo-Olu attended the ceremony, officially giving the green light for construction. The scale of the project highlights how Eko Atlantic has evolved from a land reclamation initiative into Nigeria’s fastest-growing international business district.

A bold step for Nigeria’s banking sector

With FirstBank—Nigeria’s oldest and largest financial institution—setting up its headquarters in West Africa’s tallest tower, the move reflects a broader push for innovation in the country’s banking sector.

Led by Otedola, the bank’s parent company, First Holdco, is embracing a forward-thinking approach that aligns with the rapid modernization of Lagos. As business leaders like Dangote and Otedola rally behind Eko Atlantic’s potential, the district is emerging as Nigeria’s new corporate nerve center, reinforcing its place on the global financial map.