“Lagos (#1) is topping the list, having created five unicorns and grown its ecosystem valuation 11.6x since 2017 despite having a smaller economy.”
Lagos has emerged as the world’s fastest-growing tech city for 2025, according to the Global Tech Ecosystem Index by Netherlands-based Dealroom.co. Ranked ahead of Istanbul and Pune, Lagos led the “Rising Stars” category with an 11.6x growth in ecosystem valuation since 2017.
The city has produced five unicorns—Interswitch, Flutterwave, Jumia, OPay, and Moniepoint. Governor Babajide Sanwo-Olu attributed the achievement to strategic investments and youth innovation.
“We plan to make Lagos a big centre for tech experts,” he said. The report adjusted rankings based on GDP and cost of living. Lagos’ rise is also credited to over ₦1 billion in startup grants via LASRIC. The top five cities also included Belo Horizonte and Curitiba in Brazil.