- During discussions held in Dubai, Deputy Governor Obafemi Hamzat and Lagos’ Commissioner for Innovation, Science, and Technology, Tunbosun Alake, met with Trixie LohMirmand, Executive Vice President of DWTC
The Lagos State Government, in partnership with the Dubai World Trade Centre (DWTC), is seeking to attract global investors to tap into its rapidly growing startup ecosystem, valued at an estimated $9 billion.
During discussions held in Dubai, Deputy Governor Obafemi Hamzat and Lagos’ Commissioner for Innovation, Science, and Technology, Tunbosun Alake, met with Trixie LohMirmand, Executive Vice President of DWTC. The talks centred on investment strategies ahead of GITEX Nigeria 2025, a technology event expected to boost the Nigerian economy by $25 million.
Speaking to a gathering of international investors, Alake highlighted Lagos’ position as a leading hub for technology startups in Africa. “Lagos is home to over 2,000 technology startups, valued at over $9 billion. The energy and dynamism within the state have fuelled this impressive growth,” he said.
He pointed to the success of unicorns such as Flutterwave and OPay, which have become major players in the sector, with fintech companies making up about 40% of the ecosystem. Other sectors driving the innovation include agricultural and construction technology.
Alake emphasised the importance of showcasing Lagos’ potential to international stakeholders, saying, “This collaboration with GITEX and the Dubai World Trade Centre offers an excellent platform to present the transformative developments happening in Lagos.”
He encouraged investors to engage with the city’s thriving tech scene, which boasts a robust talent pool and innovative business models. “It’s crucial to seize the opportunity now, as Lagos is shaping the technology companies of tomorrow,” he added.
Lagos was ranked 70th globally in the 2024 Startup Index, released in June, placing it among the top 100 cities with vibrant startup ecosystems.