Lagos has officially ascended to the global peak of emerging technology hubs, overtaking industrial giants like Mumbai, Istanbul, and São Paulo to claim the #1 spot in the Rising Stars category of the 2025 Dealroom Global Tech Ecosystem Index.
The benchmarking report, which evaluated 288 tech hubs across 69 countries, validates the city’s transformation into what international analysts are now calling a factory of unicorns.
Reacting to the milestone, Governor Babajide Sanwo-Olu attributed the achievement to a deliberate, seven-year strategic roadmap designed to pivot the state toward a data-driven economy.
The Governor revealed that the Lagos tech ecosystem has witnessed a staggering 11.6-fold increase in startup enterprise value since 2017, with its current valuation standing at a robust $15.3 billion.
This growth is anchored by five unicorns Interswitch, Flutterwave, Jumia, OPay, and Moniepoint marking a tripling of billion-dollar company creation since 2019.
The city’s dominance is further reflected in its ability to attract capital, securing over $6 billion in direct foreign tech investment between 2019 and 2024.
This figure represents more than 70% of Nigeria’s total tech inflows.
As of early 2026, Lagos serves as the headquarters for over 2,000 startups and 23 of the 28 fastest-growing companies in Nigeria as recognized by the Financial Times.
The Dealroom report highlights a fundamental shift in the city’s digital DNA, noting that 72% of the population now has internet access, while mobile ownership has reached a near-ubiquitous 94%.
This infrastructure has fostered a high-engagement consumer market where 38% of residents shop online weekly.
Reacting, Lagos State Governor, Dr Babajide Sanwo-Olu emphasized that this evolution is not merely about private sector success but reflects a digital-first approach to governance.
He pointed to the integrated transport payment card, a homegrown innovation used by 6.5 million residents across buses, rail, and waterways, as a prime example of inclusive technology.
While the report acknowledges a broader African tech awakening identifying Johannesburg, Nairobi, and Accra as density leaders, it distinguishes Lagos for its sheer scale and the purposeful alignment between government policy and innovation.
For Sanwo-Olu, the 2025 ranking represents a historical shift in the global geography of innovation, proving that African-led solutions are now setting the pace for established markets worldwide.
