Lagos Is World’s Fastest-Growing Tech City in Y2025

• Ahead of Istanbul, Pune

Lagos has been named the fastest-growing tech ecosystem in the world for Y2025 by Netherlands-based research firm Dealroom.co, ahead of Istanbul, Turkey and Pune, India.

The organisation, a foremost data provider on start-ups, growth companies, and tech ecosystems around the globe, broke the news in its Global Tech Ecosystem Index 2025 report, which has just been released.

According to the report, Lagos is home to five unicorns, comprising Interswitch, Flutterwave, Jumia, OPay, and Moniepoint, which makes the State stand out as an appealing hub for new enterprises.

Ranking Lagos under the ‘Rising Stars’ category of Tech Cities in the world, Dealroom.co said the State and other cities in the category have given rise to a new generation of tech companies.

“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.

Coming behind Lagos on the list, according to the report, are Turkey’s Istanbul and India’s Pune, who came second and third, respectively. Also listed are cities such as Belo Horizonte in Brazil, Mumbai in India, Curitiba, also in Brazil, and Saudi Arabia’s Riyadh.

Dealroom.co noted that the Rising Star lens showcases the fastest growing, emerging tech ecosystems by emphasising growth in enterprise value and unicorns, adjusted for local GDP per capita and cost of living.

The list highlights a wide range of ecosystems from emerging markets such as Africa, India, Turkey, and Brazil. The tech ecosystem has been expanding since Governor Babajide Sanwo-Olu mounted the saddle. The Lagos State Science Research and Innovation Council (LASRIC) has N1 billion from which startups can draw grants.