Lagos State has been named the world’s fastest-growing tech city for the year 2025, according to the latest Global Tech Ecosystem Index released by Netherlands-based data intelligence firm Dealroom.co.
The report places Lagos ahead of Istanbul, Turkey and Pune, India, in the “Rising Stars” category.
The category highlighted emerging cities with rapidly expanding tech ecosystems, measured by enterprise value growth and unicorn creation, adjusted for GDP per capita and cost of living.
Dealroom.co noted that Lagos has grown its ecosystem valuation by 11.6 times since 2017, despite operating within a relatively smaller economy.
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The city is now home to five unicorns: Interswitch, Flutterwave, Jumia, OPay, and Moniepoint, reinforcing its appeal as a major destination for tech start-ups.
“Lagos (1) is topping the list, having created five unicorns and grown its ecosystem valuation 11.6x since 2017 despite having a smaller economy,” the report stated.
Following Lagos in the global ranking are Istanbul (2nd), Pune (3rd), and other emerging hubs including Belo Horizonte and Curitiba in Brazil, Mumbai in India, and Riyadh in Saudi Arabia.
The growth of Lagos’ tech landscape has been credited to initiatives introduced under Governor Babajide Sanwo-Olu’s administration, including a N1 billion grant fund managed by the Lagos State Science Research and Innovation Council (LASRIC) to support local start-ups.
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Reacting to the report, the State’s Commissioner for Information and Strategy, Gbenga Omotoso said Sanwo-Olu expressed excitement about the ranking.
“We are thrilled but not surprised because of the hard work that our youths are doing. We plan to make Lagos a big centre for tech experts. If Microsoft or Google and other giants are looking for good hands, there will be a big pool from which they can draw.
“Thousands of our youths are busy at tech hubs, using technology to resolve everyday challenges. We will keep encouraging them.”
