Lagos climbs global startup rankings as Nigeria records 32% ecosystem growth

Lagos has retained its position as Africa’s highest-ranked startup city after climbing to 70th globally in the 2026 Global Startup Ecosystem Index, as Nigeria’s startup ecosystem recorded 32% growth.

The report showed that Lagos posted a 23% growth rate and remains the dominant force in Nigeria’s tech ecosystem, hosting 987 startups, nearly 67% of all startups in the country.

Nigeria moved up four places to rank 62nd globally, performing above the global average growth rate of 17.5%. However, the country still ranks behind South Africa and Kenya, which remain Africa’s top two startup ecosystems.

Beyond Lagos, cities including Abuja, Port Harcourt, Ibadan and Enugu also made the Global 1000 startup cities list.

Port Harcourt recorded the fastest growth among Nigerian cities at 82%. In comparison, Enugu rose by nearly 40% as the state pushes plans to grow its regional economy to $200 billion by 2035 through digital innovation and startup development.

Despite the growth, the report noted that Lagos still dominates Nigeria’s startup ecosystem, with a total score nearly 10 times Abuja’s, highlighting the concentration of startup activity in the commercial city.

Nigeria also recorded strong performances in fintech categories, ranking 13th globally in online banking and 17th in cryptocurrency, while maintaining the top spot in Africa in both sectors. The report linked this growth to the rise of fintech companies, including Moniepoint, OPay, Flutterwave and Paystack.

However, Nigeria ranked poorly in startup business conditions, placing 95th in the innovator business environment category, suggesting that regulatory and operational challenges remain major obstacles for startups.

The report also identified Heirs Holdings as one of Nigeria’s leading corporate supporters of startups due to its funding and mentorship programmes for entrepreneurs.

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