Lagos’s tech hub has earned global recognition as a Netherlands-based research firm, Dealroom.co, named the state as the fastest-growing tech ecosystem in the world for 2025.
Dealroom.co said Lagos’s tech hub solidified its position by outpacing global competitors with its vibrant startup ecosystem, innovative digital infrastructure, and a surge in tech talent.
This was contained in a report titled The Global Tech Ecosystem Index 2025 by Dealroom.co.
According to the report, Lagos’s tech hub is rapidly transforming into a global powerhouse for technology and innovation, driven by significant investments and a dynamic entrepreneurial spirit.
The report attributed the rise of Lagos’s tech hub to its robust growth in enterprise value and the emergence of unicorn startups.
The report said the city’s tech scene is fueled by a young, skilled workforce and increasing access to venture capital.
With a GDP reaching $259 billion in 2023, Lagos is not only Nigeria’s economic engine but also a magnet for tech innovators across Africa and beyond.
According to the report, Lagos is home to 5 unicorns, Interswitch, Flutterwave, Jumia, OPay, and Moniepoint, and stands out as an appealing hub for new enterprises.
Ranked under the ‘Rising Stars’ category of tech cities, Dealroom.co said Lagos and other cities in the category are giving rise to a new generation of tech companies.
“This year, Lagos (#1) is topping the list, having created 5 unicorns and grown its ecosystem valuation 11.6x since 2017 despite a smaller economy,” the report stated.
Coming behind Lagos as the number two fastest-growing tech city is Turkey’s Istanbul, followed by India’s Pune, which came third.
Also on the list are cities such as Belo Horizonte in Brazil, Mumbai in India, Curitiba, also in Brazil, and Saudi Arabia’s Riyadh.
Dealroom.co noted that the Rising Star lens showcases the fastest-growing, emerging tech ecosystems by emphasizing growth in enterprise value and unicorns, adjusted for local GDP per capita and cost of living.
While Lagos holds the ace for Nigeria in terms of fastest-growing cities, the country is conspicuously missing in the Global Champions category, which comprises the worldʼs biggest and most established startup ecosystems.
Countries in this category were ranked by absolute metrics such as venture capital, enterprise value creation, unicorns, and university linkages.
Top on the list of Global Champions is the Bay Area, followed by New York City and Boston, all cities in the United States.
“While the Bay Area (#1) is still the undisputed champion, newer hubs such as Austin (#5), Tel Aviv (#10), and Stockholm (#15) have started to build substantial ecosystems. Paris (#4) is the top hub in Europe, followed by London (#6),” Dealroom.co stated.
