Nigeria’s former capital and the commercial capital of the country, Lagos has been named the fastest-growing tech ecosystem in the world for Year 2025.
This was disclosed by Netherlands-based research firm Dealroom.co, ahead of Istanbul, Turkey and Pune, India.
This was contained in Dealeoom.co Global Tech Ecosystem Index 2025 report, which has just been released.
According to the report, Lagos is home to five unicorns. Which comprise of Interswitch, Flutterwave, Jumia, OPay, and Moniepoint. These, the research firm make Lagos stand out as an appealing hub for new enterprises.
Ranking Lagos under the ‘Rising Stars’ category of Tech Cities in the world, Dealroom.co said the State and other cities in the category have given rise to a new generation of tech companies.
The report read in part, “This year, Lagos (#1) is topping the list. Haven created five unicorns and grown its ecosystem valuation 11.6x since 2017. This is despite having a smaller economy.”
Coming behind Lagos on the list, according to the report, are Turkey’s Istanbul and India’s Pune, who came second and third, respectively.
Also listed are cities such as Belo Horizonte in Brazil, Mumbai in India, Curitiba, also in Brazil, and Saudi Arabia’s Riyadh.
Dealroom.co noted that the Rising Star lens showcases the fastest-growing, emerging tech ecosystems. This is by emphasizing growth in enterprise value and unicorns, adjusted for local GDP per capita and cost of living.
The list highlights a wide range of ecosystems from emerging markets such as Africa, India, Turkey, and Brazil.
The tech ecosystem has been expanding since Governor Babajide Sanwo-Olu mounted the saddle. The Lagos State Science Research and Innovation Council (LASRIC) has N1 billion from which startups can draw grants.
Reacting to the report, the State Commissioner for Information and Strategy, Gbenga Omotoso hailed the news.
He quoted Governor Babajide Sanwo-Olu as saying: “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,” Sanwo-Olu said.
Lagos keeps getting recognition. Time Out Magazine recently ranked the State as one of the three best African cities for Y2025.