Lagos has been named the world’s fastest-growing tech ecosystem in 2025, securing the top position in Dealroom’s Global Tech Ecosystem Index, outpacing global cities across Asia, Europe, and Latin America.
The report tracks 288 tech hubs across 69 countries and ranks them based on growth in enterprise value, unicorn creation, and economic factors like cost of living and GDP per capita.
Lagos has grown its startup ecosystem valuation by 11.6 times since 2017 and produced five unicorns within the same period.
Companies like Flutterwave, OPay, Moniepoint, and Interswitch have played huge roles in ensuring this growth. Dealroom places Lagos above Istanbul, Pune, Belo Horizonte, and Mumbai in the “Rising Stars” category, a segment that spotlights cities with speedy acceleration in innovation and venture value.
As stated in the report, “What sets Lagos apart is its ability to adapt quickly, develop locally relevant innovations, and scale despite systemic obstacles. This agility continues to propel the ecosystem forward, reinforcing the city’s status as a leading hub for technology and entrepreneurship in Africa.”
Lagos now holds an enterprise value of $15.3 billion, with five unicorns, and has achieved a threefold increase in unicorn production since the previous assessment period.
Its cost of living was just 22% that of New York City, giving it a competitive edge for startup scalability. With a population of 21.3 million and a GDP per capita of $1,600, Lagos is working hard to overcome economic odds.
“While Lagos shows impressive growth, several challenges threaten to hinder sustained progress. Infrastructure remains a major concern-frequent power outages, high cost of data and unreliable internet can slow operations and increase costs. Additionally, talent retention is becoming an issue with relocation driven by working conditions and remuneration.” said Etemore Glover of the Impact Investors Foundation.
Nonetheless, Lagos is bolstering Africa’s innovation record. It is the only sub-Saharan African city featured at the top of any global category in the report, even outranking tech-forward cities like Johannesburg, Nairobi, and Cape Town.
For an ecosystem long overlooked in mainstream global innovation rankings, this is a commendable statement for Lagos State and its growth drive across the tech sector in 2025 and beyond.
