Lagos has officially been ranked the world’s fastest-growing tech hub in 2025, outperforming global cities such as Istanbul, Mumbai, and São Paulo.
The recognition comes from the 2025 Global Tech Ecosystem Index released by Dealroom, which evaluated 288 tech ecosystems across 69 countries. Notably, Lagos secured the number one spot in the “Rising Stars” category, confirming its rapid ascent in the global innovation economy.
Lagos Leads Africa’s Tech Revolution
Over the past decade, Lagos has transformed into what many now describe as Africa’s “factory of unicorns.” However, the city’s growth goes beyond billion-dollar valuations. Instead, it reflects a deeper shift in how African startups compete globally.
According to the report, Lagos stands out because of its unique innovation culture. Unlike traditional tech capitals such as Silicon Valley and London, Lagos thrives on resilience, speed, and local problem-solving at scale.
Meanwhile, the city continues to expand rapidly. Lagos adds nearly 2,000 new residents daily. As a result, its metro population has now surpassed 22 million, strengthening its consumer market and digital economy.
$15.3 Billion Tech Ecosystem Value
Reacting to the ranking, Lagos State Governor Babajide Sanwo-Olu described the achievement as the product of seven years of strategic investment and policy reforms.
Since 2017, Lagos has recorded an 11.6-fold increase in startup enterprise value. Today, its tech ecosystem is valued at $15.3 billion.
Furthermore, the city has produced five unicorns:
- Interswitch
- Flutterwave
- Jumia
- OPay
- Moniepoint
Importantly, unicorn creation in Lagos has tripled since 2019. Between 2019 and 2024 alone, the state attracted more than $6 billion in foreign direct tech investment. Consequently, Lagos accounted for over 70% of Nigeria’s total tech inflows during that period.
Lagos Dominates Nigeria’s Startup Landscape
As of October 2024, more than 2,000 startups operate from Lagos. This figure represents between 80% and 90% of Nigeria’s entire startup ecosystem.
In addition, the Financial Times recently identified 23 of Nigeria’s 28 fastest-growing companies as Lagos-based. Therefore, the city continues to dominate national innovation metrics.
Beyond funding and valuations, digital adoption in Lagos remains strong. Currently, 38% of residents shop online weekly. Internet penetration stands at 72%, while mobile phone ownership has reached an impressive 94%.
For example, young engineers in their 20s developed an integrated transport payment card that now serves over 6.5 million commuters across rail, waterways, buses, and taxis. Such innovation highlights the city’s ability to scale local solutions rapidly.
Africa’s Expanding Tech Powerhouses
While Lagos leads the rankings, other African cities also gained global recognition. These “density leaders” include:
- Johannesburg
- Cape Town
- Nairobi
- Dakar
- Kampala
- Accra
Together, these cities signal a broader African tech awakening driven by innovation density, startup output, and university-industry collaboration.
A Global Shift in Innovation Power
Ultimately, Lagos’ 2025 ranking signals more than statistical success. Instead, it marks a global shift in where innovation happens and who leads it.
As Governor Sanwo-Olu noted, Lagos now represents a new frontier in global tech. The city has proven that African startups can compete, scale, and win on the world stage.
With sustained investment, expanding infrastructure, and a thriving youth population, Lagos appears poised to shape the future of global technology for years to come.
