Lagos Named World’s Fastest-Growing Tech City for 2025

Summary

• Dealroom.co ranks Lagos #1 in global tech ecosystem growth
• City has produced five unicorns, with startup valuation up 11.6x since 2017
• Sanwo-Olu pledges continued support for youth-led innovation

Lagos, Nigeria — Lagos has been named the world’s fastest-growing tech city for 2025 by Netherlands-based research firm Dealroom.co, topping the newly released Global Tech Ecosystem Index 2025. The city beat out Istanbul (Turkey) and Pune (India) to claim the number one spot in the “Rising Stars” category.

According to Dealroom.co, Lagos’s rapid ascent is driven by its thriving startup ecosystem and strong unicorn production. The city has birthed five unicorns—Interswitch, Flutterwave, Jumia, OPay, and Moniepoint—with its ecosystem valuation growing 11.6 times since 2017, despite a comparatively smaller economy.

“This year, 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.

The “Rising Stars” category highlights fast-growing tech hubs in emerging markets, adjusting for local GDP per capita and living costs. Other cities on the list include Belo Horizonte and Curitiba in Brazil, Mumbai in India, and Riyadh in Saudi Arabia.

The growth of Lagos’s tech sector aligns with the efforts of Governor Babajide Sanwo-Olu’s administration, which has championed youth innovation through initiatives like the Lagos State Science Research and Innovation Council (LASRIC). LASRIC has made N1 billion in grants available to support tech startups.

Commenting on the report, Gbenga Omotoso, Lagos Commissioner for Information and Strategy, quoted the governor 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.”

Governor Sanwo-Olu also praised the energy in local tech hubs:

“Thousands of our youths are busy at tech hubs, using technology to resolve everyday challenges. We will keep encouraging them.”

Lagos continues to gain international attention, with Time Out Magazine recently naming it one of the three best African cities for 2025.