Lagos has been ranked the fastest-growing technology ecosystem in the world for 2025, according to the Global Tech Ecosystem Index 2025 report by Dutch research firm Dealroom. The city leads the top “Rising Stars” category, which showcases emerging tech cities globally by considering growth in unicorns and enterprise value at $15.3 billion.
Lagos is home to five unicorns, namely, Jumia, Moniepoint, Interswitch, Flutterwave, and OPay making it an attractive destination for tech startups. Despite its smaller economy, the city’s ecosystem valuation has grown 11.6 times since 2017, surpassing other contenders in the category.
The report placed Istanbul, Turkey as the second fastest-growing tech hub, followed by Pune, India, while cities like Belo Horizonte (Brazil), Mumbai (India), Curitiba (Brazil), and Riyadh (Saudi Arabia) also made the list.
Dealroom emphasised that Lagos’ growth showcases the rise of new tech ecosystems, driven by enterprise value expansion and unicorn creation, adjusted for local economic factors.
However, while Lagos excelled in this category, Nigeria was absent from the Global Champions list, which ranks the world’s most established startup ecosystems. The Bay Area (United States), New York City, and Boston took the top positions.
Meanwhile, in a separate development, the Lagos State government announced that N2.9 billion had been spent over the past year to support 8,690 vulnerable residents, including pregnant women, through the Eko Cares initiative. Another N1.6 billion has been earmarked for new beneficiaries.
State officials also outlined the progress in agriculture and rural development, with initiatives like the Isheri Integrated Farm Centre and Ketu-Epe Farm Centre, which provide modern training for grassroots farmers.
Lagos continues to position itself as a global tech leader, demonstrating resilience and innovation in the face of economic challenges.
