Nigeria: Lagos has been ranked as the World’s Fastest Growing Tech City for year 2025, surpassing Istanbul and Turkey. A Netherland based research firm – Dealroom.co broke the news in its Globe Tech Ecosystem Index 2025, released recently. The organisation provides foremost data on start-ups, growth companies, and tech ecosystems around the globe.
As per the received report, Lagos is Nigeria is home to five unicorns that are Interswitch, Flutterwave, Jumia, OPay and Moniepoint. This makes the State stand out as an appealing hub for new enterprises.
The firm named Lagos under the category ‘Rising Stars’ of Tech Cities in the world, Dealroom.co and said that the State and other cities in the category have risen to a new generation of tech companies.
The report further stated that this year, Lagos is on top in the list and has created five unicorns and has grown its ecosystem valuation 11.6x since 2017 despite having a smaller economy.
The Rising Stars list evaluates cities based on startup ecosystem growth, unicorn creation and increase in enterprise value factors that are adjusted for local GDP and cost of living to ensure fair comparisons.
This rise in Lagos as a global tech powerhouse has coincided with strategic investments under the administration of Governor Babajide Sanwo-Olu. Following this, the Lagos State Science Research and Innovation Council (LASRIC) has made more than ₦ 1bilion in grants that are available to support local startups.
Considering this, Lagos State Commissioner – Gbenga Omotoso reacted to the released report, quoted Governor Sanwo-Olu and said that they are thrilled but not surprised because of the hard work that the youths are doing.
Moreover, they are planning to make Lagos a big centre for tech experts. If Microsoft or Google and other giants are looking for good hands, then there will be a big pool from which they can draw.
Sanwo-Olu also pointed towards the vibrancy of the innovation scene of the city. He added by saying that thousands of the youths are busy at tech hubs, as they are using technology to resolve everyday challenges, and they will keep encouraging them.
Notably, this recognition from Dealroom.co follows other accolades for Lagos, that will include its inclusion by Time Out magazine as one of the Top-3 African Cities to Visit in 2025.