LAGOS State Governor, Babajide Sanwo-Olu, Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, the Director-General, National Information and Technology Development Agency (NITDA), Kashifu Inuwa Abdullah, Executive Vice President, Dubai World Trade Centre, Trixie Lohmirmand have rallied global investors for Nigeria and Africa’s startups.
With Nigeria seen as an emerging power house in the region, the need for more investments were echoed by them.
Sanwo-Olu said the Lagos technology ecosystem is fast becoming a phenomenal, saying that in the last five years over $6 billion startups funds have entered the state.
The governor, stated this Wednesday at the opening session of the Lagos Edition of the GITEX Nigeria 2025 conference and exhibition.
Sanwo-Olu, who described it as an honor and mindsetting goals for the state to host the event, said people across the globe defied the challenges of the environment to be in Nigeria, specifically Abuja and Lagos.
“A state of between 20 million and 22 million strong people with all tribes represented. The diversity of the state fuels startup ecosystem growth with over $6 billion startups funds entered the state in the last five years. We can also boast of hyperscalers data centres, increased fibre infrastructure and landing of submarine cable systems.
“Today, 70 per cent of tech economy gains coming to Nigeria are sitting in Lagos. We believe that governance in 24 century must be digital,” he stated.
According to him, the state is ready to further support the ecosystem by ensure an investment friendly environment, stabilized by policies.
From his perspective, Tijani, who called on global investors to see Nigeria as new investment destination, stressed the importance of the Lagos ecosystem, saying the state is seen as one of the fastest growing cities in the world.
According to him, about 2000 people are added daily to the Lagos population. Tijani said that despite the challenges, five to six of Africa’s unicorn are actually from Nigeria. He added that in the state is home to the largest technology hubs in the region.
Outside the tech ecosystem, he said the state has enabled the Africa’s creative heartbeat, the Nollyhood, where about $15 billion is projected to be created by creative economy in the coming years.
To Abdullahi, Lagos, Nigeria is crucible of development. According to him, Nigeria has started a journey that will ensure that it built solutions that will help startups scale up by as much as 10 times.
“As a nation, the vision is clear. Economic diversification and infrastructure development. So many disruptions are going to emerge from here. Investors should come to Nigeria, though we can do it ‘without you, but it is better we do it together.”
On her part, Lohmirmand, Nigeria is ranked as one of the fastest-rising and growing Fintechs in the world. She added that Nigerians scale with resilience, not just capital.
“Nigeria is global, they beat countries like a Mumbai, Turkey and many more countries with Fintechs and startups,” she stated.
According to her, Nigerian startups create solutions to problems that stem from necessity and survival, which is why they scale faster.
“The resistance DNA and the way they thrive during tough challenges. Nigerians scale with resilience and not capital.
“In other countries, they build solutions with already established infrastructure, but Nigerians Fintechs create infrastructure and whole systems,” Lohmirmand stated.
