LAGOS – Lagos, Nigeria’s largest city, has taken the top spot in the Global Tech Ecosystem Index 2025 as the fastest growing tech city in the world.

The city leads the “Rising Stars” category, which highlights emerging hubs based on enterprise value growth, unicorn creation and economic conditions.

Lagos recorded an 11.6-fold increase in its tech ecosystem valuation since 2017 and has produced five unicorns, including companies like Flutterwave and Interswitch.

The report notes that Lagos has built a dynamic startup environment with major gains in fintech, supported by a large and engaged consumer base.

Lagos leads a diverse set of high-growth cities that includes Istanbul, Pune, Belo Horizonte and Mumbai.

The report states that Lagos’s cost of living is about 22 % of New York’s, which makes the city roughly 78 % less expensive and a major draw for startups and talent.

The metro area is home to more than 21 million people and has an enterprise value of $15.3 billion.

Lagos leads the African tech landscape, but other cities are also gaining ground.

The report highlights Johannesburg, Nairobi, Cape Town, Dakar, Accra and Kampala as part of the continent’s growing innovation hubs.

These cities show increasing startup activity and investment, contributing to Africa’s broader role in the global tech ecosystem.

“Lagos continues to rise as a technology powerhouse, driven by several key factors that define its thriving startup ecosystem,” said Etemore Glover of the Impact Investors Foundation, as quoted in the report.

“Fintech stands out as one of the city’s strongest pillars, with companies like Flutterwave and Paystack revolutionizing financial transactions across Africa,” she said.

The report by Dealroom.co index analyzed 288 cities across 69 countries using metrics such as capital investment, innovation, talent and value creation.