Lagos State has reaffirmed its position as Africa’s leading technology and innovation hub following the successful hosting of the GITEX Nigeria Tech Expo, Future Economy Conference, and Startup Festival.
The events, held concurrently at the Eko Hotel Convention Centre and Landmark Centre on Sept. 3 and 4, attracted over 20,000 visitors, 3,000 tech professionals, and nearly 1,000 startups.
Gov. Babajide Sanwo-Olu described Lagos as “the commercial economic centre of our country, the beating heart of Africa, the digital centre of our time.”
Between 2019 and 2024, Lagos attracted over $6 billion in foreign tech startup funding, accounting for more than 70 per cent of Nigeria’s total tech inflows.
The state is home to five unicorns — Flutterwave, Interswitch, Paystack, Kuda Bank, and Opay — with an ecosystem valuation of approximately $15 billion, representing an 11.6-fold increase since 2017.
Commissioner for Innovation and Technology, Mr. Tubosun Alake, said Lagos now hosts 2,000 startups, with Nigerian startups raising over $400 million in 2024 alone.
He added that 23 of Nigeria’s 28 fastest-growing companies, as recognised by the Financial Times, are based in Lagos.
Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, said the ICT sector now contributes between 16 and 18 per cent to Nigeria’s GDP, up from less than five per cent a decade ago.
He projected the figure to reach 21 to 22 per cent by 2027, surpassing the oil and gas sector.
Dr. Dahlia Khalifa, Regional Director at the International Finance Corporation (IFC), described Lagos as “one of the most dynamic hubs of innovation in Africa.”
Executive Vice President of Dubai World Trade Centre, Ms. Trixie LohMirmand, said Nigerian startups innovate out of necessity, calling their resilience “world class.”
Gov. Sanwo-Olu said Lagos’s diversity enables inclusive innovation, noting that “you can dream as a Hausa boy, code in any language, pitch in Yoruba, and still understand English fluently.”
Deputy Governor, Dr. Obafemi Hamzat, highlighted the success of “She Mobility,” a locally developed app that has raised nearly $100 million.
The Lagos State Government supports startups through initiatives such as the Lagos State Science and Innovation Council (LASIC), which provides grants of up to N80 million annually.
Alake said Lagos implemented one of Nigeria’s first government ERP systems using Oracle, a feat many Fortune 500 companies failed to achieve.
He noted that innovations like the integrated transport payment card, designed by young Nigerians, are now used by over 6.5 million residents.
The Lagos Pavilion featured innovations from ministries including Innovation, Tourism, Health, and Education, with startup pitches across fintech, foodtech, healthcare, and education.
Commissioner for Tourism, Mrs. Toke Benson-Awoyinka, said Lagos offers a rich cultural experience, with guests treated to local cuisines and performances at the JK Randle Centre for Yoruba Culture and History.
Director-General of NITDA, Mr. Kashifu Inuwa, said GITEX Nigeria is a declaration that the country is ready to lead in the future economy.
LohMirmand said GITEX aims to spotlight underserved but inspiring communities, adding that 78 countries participated in the Lagos edition.
Alake concluded that Lagos is “ready to lead,” inviting global stakeholders to collaborate in Nigeria’s tech revolution.
