Lagos-based Dealroom.co is World Fastest Growing Tech City, Says Report
A report released by Netherlands-based research firm Dealroom.co, Lagos has been crowned the world’s fastest-growing tech city for 2025.
The Nigerian commercial hub has topped the list, surpassing Istanbul, Turkey, and Pune, India, to take the coveted spot.
According to the Global Tech Ecosystem Index 2025, Lagos has achieved an impressive 11.6x increase in ecosystem valuation since 2017, with the city producing five tech unicorns: Interswitch, Flutterwave, Jumia, OPay, and Moniepoint.
This remarkable growth has cemented Lagos’ position as a prime destination for startups and venture capital in Africa and beyond.
The “Rising Stars” category, which highlights cities with rapidly expanding tech ecosystems, has recognized Lagos for its outstanding performance.
The city’s accomplishments have been adjusted for local GDP and cost of living to ensure fair comparisons with other global tech hubs.
“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,” said Lagos State Governor Babajide Sanwo-Olu while reacting to the report
The governor also highlighted the vibrancy of the city’s innovation scene, stating, “Thousands of our youths are busy at tech hubs, using technology to resolve everyday challenges. We will keep encouraging them.”
Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, quoted Governor Sanwo-Olu, emphasizing the administration’s commitment to supporting the growth of the tech industry.
The Lagos State Science Research and Innovation Council (LASRIC) has made over ₦1 billion in grants available to support local startups, demonstrating the government’s strategic investments in the sector.
The top five fastest-growing tech hubs, as listed in the report, are:
• Lagos, Nigeria
• Istanbul, Turkey
• Pune, India
• Belo Horizonte, Brazil
• Curitiba, Brazil
Other cities highlighted in the report include Mumbai (India) and Riyadh (Saudi Arabia), signaling strong momentum in emerging markets across Africa, Asia, and Latin America.
The recognition from Dealroom.co follows other accolades for Lagos, including its inclusion by Time Out Magazine as one of the Top 3 African Cities to Visit in 2025.
This latest achievement is expected to further boost the city’s reputation as a hub for innovation and entrepreneurship.
As the tech industry continues to thrive in Lagos, the city is poised to become a major player in the global tech landscape. With its talented pool of young professionals, strategic investments, and vibrant innovation scene, Lagos is ready to take on the world.
