Nigeria is losing an estimated $850m annually to foreign cloud infrastructure providers as local enterprises continue to host critical digital operations outside the country, according to Kasi Cloud.
The disclosure was made recently during the commissioning of the company’s Hyperscale AI-Ready Data Centre, LOS1, in Lekki, Lagos, where government officials and technology executives described local cloud infrastructure as increasingly critical to Nigeria’s economic future.
“Nigerian enterprises currently spend an estimated $850m annually on foreign cloud infrastructure capital that flows out of the economy and sits under foreign legal jurisdiction,” the company said in a statement.
The figure highlights Nigeria’s growing dependence on overseas cloud infrastructure, with banks, fintech companies, telecom operators, multinational firms and government institutions relying heavily on data centres located in Europe and North America.
The trend has contributed to capital flight, increased foreign exchange pressure, and exposed sensitive Nigerian data to foreign regulatory environments.
