The rapid increase in internet access and smartphone adoption has opened up new avenues for startups in Nigeria. Mobile technology plays a crucial role, allowing businesses to connect with a broader audience, including those in remote areas.
As a result, several regions in the country ranked in the top 1000 cities in the world for startups to thrive, with Lagos being 70th globally.
NewDailyPrime has unveiled its list of the top 10 best Nigerian cities for startups in 2024, drawing insights from the Global Startup Ecosystem Index by Startup Blink.
This ranking highlights Nigeria’s dynamic entrepreneurial landscape, showcasing the cities that are fostering innovation and attracting investment.
1. Lagos
Lagos retains its position as the premier startup hub in Nigeria, ranking 70th globally. The city’s vibrant fintech scene, characterized by pioneering companies such as Flutterwave and Paystack, has revolutionized online payment systems, making them more accessible and secure for millions. With its bustling markets and diverse population, Lagos serves as a melting pot for ideas and talent.
2. Abuja
Nigeria’s capital is emerging as a significant player in the startup ecosystem, boasting a growing number of tech hubs and incubators. With government initiatives aimed at promoting entrepreneurship and innovation, Abuja is becoming an attractive destination for startups in various sectors, including health tech and agritech.
3. Port Harcourt
Known for its oil and gas industry, Port Harcourt is diversifying its economy, with a rising number of tech startups focusing on energy solutions and logistics. The city’s strategic location and access to resources make it a viable option for entrepreneurs looking to innovate within the energy sector.
4. Ibadan
Ibadan, with its historical significance and academic institutions, is nurturing a new generation of tech-savvy entrepreneurs. The city is home to several innovation hubs, fostering collaboration among startups in agritech, edtech, and healthcare.
5. Kano
This northern city has made its debut on the global index this year, showcasing its potential as a startup hub. Kano is known for its rich history in trade and commerce, and its burgeoning tech scene is now attracting attention, particularly in e-commerce and digital services.
6. Enugu
Enugu is gradually establishing itself as a center for innovation in the southeast. With a focus on agritech and renewable energy startups, the city is leveraging its agricultural resources to support new business ventures and promote sustainability.
7. Kaduna
Kaduna is evolving into a tech-friendly environment, particularly for startups focusing on health and education technology. The state’s efforts to enhance digital infrastructure are encouraging entrepreneurial activities and attracting investment.
8. Ogun State (Abeokuta)
Ogun State, with its proximity to Lagos, is experiencing a surge in startups, particularly in manufacturing and logistics. The government is actively promoting the development of industrial parks, making it a favorable location for entrepreneurs.
9. Benin City
Benin City is gaining recognition for its entrepreneurial spirit, with a growing number of startups in creative industries and technology. The local government’s support for innovation is enhancing the city’s appeal as a startup destination.
10. Ilorin
Ilorin is emerging as a hub for education-related startups. With its several universities and research institutions, the city is cultivating a talent pool that is driving innovation in edtech and digital learning solutions.
A Thriving Ecosystem
The Global Startup Ecosystem Index 2024 reports that Nigeria has maintained its global position, ranking 64th and 4th in Africa. Notably, all six Nigerian cities listed in the worldwide top 1,000 improved their rankings. With a domestic market exceeding 200 million people projected to reach 400 million by 2050, Nigeria is becoming an increasingly attractive location for startups.
The country has topped Africa’s unicorn charts, with companies like Flutterwave and OPay rapidly expanding across the continent. Additionally, it serves as the headquarters for Jumia Group, a significant player in the e-commerce landscape.
Conclusion
Nigeria’s startup ecosystem is fueled by a youthful, tech-savvy population eager to embrace innovation. With supportive government policies, a growing number of incubators, and a rich pool of talent, the country is poised for continued growth in the startup sector. As we look toward 2024, these cities are leading the charge, paving the way for the next generation of Nigerian entrepreneurs.
With that said, here are the top 10 best Nigerian cities for startups in 2024, not ranked by our website.
Gbenga Oluranti OLALEYE is a writer and media professional with over 3 years of experience covering politics, lifestyle, and sports, he is passionate about good governance and quality education.
