Lagos climbs global startup rankings as Nigeria faces slower ecosystem growth
- Lagos is home to 987 startups, representing nearly 67% of all startups in Nigeria.
- Port Harcourt recorded the fastest growth rate among Nigerian cities at 82.0%.
- Nigeria rose four spots to 62nd globally with a growth rate of 31.8%.
While Nigeria's growth in the startup ecosystem is commendable, particularly in fintech, the challenges in the business environment must be addressed to sustain this momentum. Strengthening secondary hubs like Enugu and Port Harcourt could diversify the ecosystem and reduce reliance on Lagos.
