Photo Credit: Benson Ibeabuchi/Bloomberg via Getty Images

Dealroom’s Global Tech Ecosystem Index 2025 has crowned Lagos the world’s fastest-growing technology city. According to the Dealroom report, Lagos grew its tech ecosystem valuation 11.6x with the tech city’s creation of five unicorns – Interswitch, Flutterwave, Jumia, OPay and Moniepoint.  In other words, Lagos’ tech ecosystem has expanded at an unprecedented rate relative to its economy. 

This also means that Lagos now leads a list that includes Istanbul (Turkey) and Pune (India), with these cities reportedly taking the 2nd and 3rd positions respectively. Other fast-growing hubs in the Rising Stars category include Belo Horizonte and Curitiba in Brazil, as well as Mumbai and Riyadh. For context, Dealroom’s top five fastest-growing tech cities of 2025 are: Lagos, Nigeria; Istanbul, Turkey; Pune, India; Belo Horizonte, Brazil; and Curitiba, Brazil.

This ranking emphasizes Lagos’ status as Africa’s leading tech hub, reflecting its vibrant startup scene and rapidly growing digital economy. However, according to the Dealroom’s full report on a national scale, it is reported that Nigeria as a whole is not yet in the top “Global Champions” tier, although Lagos’ rise signals Nigeria’s tech potential.

Lagos’s tech boom is driven by a dynamic startup ecosystem and talent pool. The megacity, which is home to approximately 21.3 million people and is often dubbed “Africa’s Silicon Valley,” boasts of about 400 technology startups – roughly 88% of all Nigerian startups. These startups range from fintech and payments platforms (Interswitch, Flutterwave, OPay) to e-commerce (Jumia) and healthtech ventures. 

Lagos’ tech ecosystem also attracts strong venture capital inflows. Recent data show Lagos startups have raised over $15 billion in funding. For example, in 2024 Nigerian startups, mostly Lagos-based, raised about $410 million. Overall, Lagos’s startup founding rate has grown at roughly 31% annually over the past five years, highlighting how the tech city’s digital economy is rapidly scaling.

The megacity’s large, young population and well-educated workforce also fuel innovation. Lagos State officials note that the city’s massive consumer market and business-friendly environment are key factors driving tech growth in the city’s ecosystem, as public policy and infrastructure investments continuously strengthen Lagos’ tech edge. 

For example, the creation of the Lagos State Science Research and Innovation Council (LASRIC) to support startups and digital innovation. LASRIC, since its launch, has earmarked over ₦1 billion in grants to local tech startups.

Lagos’s top ranking also highlights a shifting global tech landscape. In Dealroom’s 2025 index, three African cities made the fastest-growing list: Lagos, Johannesburg, and Kampala. Lagos number 1 spot accentuates Africa’s rising influence, as the megacity’s achievement as the world’s fastest-growing tech city spotlights Nigeria’s expanding digital footprint. 

Considering that Nigeria in its entirety falls short of its tech performance by slipping to the 66th position from its former 64th position according to StartupBlink’s 2025 Global Startup Ecosystem Index, the tech city continues to dominate West Africa’s startup landscape, maintaining its leading position in the region since 2021. The combination of a large talent pool, thriving startup activity, growing venture capital inflows, and supportive government policies concentrated in Lagos has made the tech city a standout. 

As Lagos continues to build on this momentum, improving connectivity, scaling up innovation programs, and deepening skills training, it is set to strengthen its role in the global tech ecosystem.

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I’m Precious Amusat, Phronews’ Content Writer. I conduct in-depth research and write on the latest developments in the tech industry, including trends in big tech, startups, cybersecurity, artificial intelligence and their global impacts. When I’m off the clock, you’ll find me cheering on women’s footy, curled up with a romance novel, or binge-watching crime thrillers.

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