In a landmark announcement at GITEX Nigeria 2025, Governor Babajide Sanwo-Olu revealed that Lagos State attracted over ₦9.3 trillion (approximately $6 billion) in technology startup funding between 2019 and 2024. This influx of capital not only cements Lagos’s status as Nigeria’s economic powerhouse but also redefines its position as Africa’s leading hub for digital innovation and startup growth.
The governor, speaking during the Lagos session of the tech expo held on September 5, emphasized that the state now accounts for more than 70% of Nigeria’s total tech inflows and hosts a significant number of the continent’s startups valued at over $1 billion.
“We’re not just an economic powerhouse; we are Africa’s innovation capital,” Sanwo-Olu declared to an audience of international investors, policymakers, and tech entrepreneurs.
While ₦9.3 trillion in investment is a staggering figure on its own, its real significance lies in what it enables. These investments are not only fueling thousands of startups but also transforming Lagos’s infrastructure, employment landscape, and global reputation.
The governor pointed to major digital infrastructure projects already in motion: hyperscale data centers, submarine internet cables, and citywide fibre optic connectivity. These are not just vanity projects, they are laying the foundation for a fully digitized economy. With faster internet speeds and improved connectivity, Lagos is becoming a fertile ground for tech experimentation, AI development, blockchain solutions, and smart city innovations.
One of the standout examples of Lagos’s digital evolution is the youth-designed Cowry Card, which now integrates payments across the state’s multimodal transport system including buses, rail, taxis, and ferries. The Cowry Card, powering systems like the new Blue Line Rail, is emblematic of Lagos’s intent to build a future shaped by its tech-savvy youth population. It’s not just innovation for innovation’s sake, it’s practical, inclusive, and homegrown.
Lagos’s booming startup scene is quickly becoming a magnet for Africa’s brightest minds. As more venture capital flows in, new startups are emerging in fintech, health tech, ed tech, and logistics. This will inevitably drive employment, skills development, and upward mobility for the city’s vast youth population. Moreover, Lagos-based tech talent is increasingly in demand globally, positioning the state as not just a consumer but a net exporter of digital expertise.
Historically seen as a chaotic megacity grappling with urban challenges, Lagos is steadily reshaping its global identity. As international investors back its startups and major global players establish operations here, Lagos is now being discussed in the same breath as Nairobi, Cape Town, and even Dubai, an African tech metropolis that’s open for business and brimming with potential.
The state’s integrated approach—combining infrastructure, innovation, investment, and inclusive policies is proving effective, scalable, and sustainable.
With over ₦9.3 trillion mobilized in just five years, the question now is not whether Lagos can lead Africa’s digital future but how far it can go.
Below is how we can help you promote your event, organization and products/services . This is the best you can get from this global platform of over decades experience.
PACKAGE:
First Leg: Full page Promotional package showcasing your Invitation Card, Banner/Flex, 3 different Photographs and brief of the coming event. Also your picture/Name will be the headline News in digivation blog(Pre-Event)
Second Leg: Full Page Promotional package of the event showcasing 5 different photographs plus short audio/visual clip of the event. Also org. picture/Name will be the headline news our blog(Post-Event).
Rate: N150,000 Only For Both Pre and Post Events. (Rate is only Applicable during the Promotional Period)
For further inquiries, contact the undersigned:
Hilary Damissah (Editor)
Mojisola Alabi ( business Development)
Email: digivationtv@gmail.com
