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Home Business StartUPs

GITEX 2025: $6bn Investments, Home to 70% of Africa’s Unicorns | Sanwo-Olu Hails Lagos as Africa’s Tech Hub

by Joan Aimuengheuwa
September 3, 2025
in StartUPs
2
GITEX NIGERIA 2025
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Lagos State Governor, Babajide Sanwo-Olu, has described Lagos as the city where diversity fuels innovation.

He stated that “Lagos is the only place where a Hausa boy can dream in his mother tongue, code in Java, pitch in Yoruba, and be understood in English.”

The Governor made the statement on Tuesday while addressing global technology leaders, investors, and policymakers at the opening of GITEX NIGERIA 2025 in Lagos, the first time the global technology showpiece is being hosted in the city.

Sanwo-Olu said Lagos’ strength lies not only in its infrastructure but in its people, a melting pot of cultures that has birthed some of Africa’s most innovative startups. 

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He revealed that more than 70% of all African unicorns trace their roots back to Lagos, stressing the state’s role as the continent’s innovation hub.

“Lagos is not just a city for today; it is Africa’s innovation nerve centre and a launchpad for Africa’s tomorrow,” the Governor said, adding that the state’s model of governance is increasingly digital, inclusive, and data-driven.

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Between 2019 and 2024, Lagos attracted over $6 billion in foreign investment into its startup ecosystem, while submarine cables, hyperscale data centres, and fibre rollouts have positioned the city as Nigeria’s undisputed technology capital.

He highlighted practical innovations already changing daily life, such as the state’s Blue Line Rail, which has carried over five million passengers in its first two years of operation. 

The rail system is powered by the Cowry Card, a unified transport payment platform designed by young Nigerian engineers in their late 20s. The card now works seamlessly across trains, buses, taxis, and waterways, providing a model for locally built, scalable solutions.

Sanwo-Olu also pointed to the Lagos Science and Research Fund, which provides grants of between ₦50 million and ₦80 million to promising startups. Some of these companies, he noted, have already represented Lagos at GITEX exhibitions in Dubai and Marrakesh, proving that the city’s ideas can compete on the global stage.

The Governor invited participants to visit the Lagos Pavilion at the expo, which showcases the state’s advancements in edu-health, edu-tech, green energy, and smart mobility solutions. He said these initiatives demonstrate the government’s priority to solve real-world challenges through digital innovation while empowering young people to take the lead in building the city’s future.

Sanwo-Olu emphasised that GITEX NIGERIA 2025 was not just about technology but about forging alliances that would define Africa’s digital growth. “The future economy is not dictated by geography,” he said. “It must be co-created through partnerships across borders.”

The event drew international delegations from Dubai, Sweden, and beyond, as well as leading technology giants including Cisco, IBM, and MTN, alongside thousands of entrepreneurs and innovators presenting Africa’s next big ideas.

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Tags: $6 billion investment in LagosAfrica’s unicorns LagosBabajide Sanwo-OluEdu-tech and green energy LagosFibre optic rollout LagosGITEX Nigeria 2025Hyperscale data centres NigeriaInnovation in LagosLagos Pavilion GITEXLagos Science and Research FundLagos Startup EcosystemLagos State technology hubLagos transport innovationNigeria Digital EconomySmart mobility LagosTech investments in Africa
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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‘Launchpad for Africa’s tomorrow’ – Lagos Ready to Lead Regional Digital Transformation Revolution, says Babajide Sanwo-Olu at GITEX NIGERIA

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  1. Pingback: ‘Launchpad for Africa’s tomorrow’ – Lagos Ready to Lead Regional Digital Transformation Revolution, says Babajide Sanwo-Olu at GITEX NIGERIA – Nigeria News Update
  2. Pingback: ‘Cashless Policy Created Gaps Nigerian Startups Rushed to Fill’ — Kashifu – Nigeria News Update

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