News

Lagos Tops World’s Fastest Growing Tech Cities In The world [See Top 5]

Published

12 months ago

May 24, 2025

Lagos has been named the world’s fastest-growing tech city for 2025, according to the Global Tech Ecosystem Index 2025 released by Netherlands-based research firm Dealroom.co.

The Nigerian commercial hub tops the list ahead of Istanbul, Turkey, and Pune, India. Lagos was ranked under the “Rising Stars” category, highlighting cities with rapidly expanding tech ecosystems that are outperforming global counterparts in growth relative to their economic size.

According to Dealroom.co, Lagos has achieved an 11.6x increase in ecosystem valuation since 2017 and has produced five tech unicorns: Interswitch, Flutterwave, Jumia, OPay, and Moniepoint. These accomplishments have set Lagos apart as a prime destination for startups and venture capital in Africa and beyond.

“This year, Lagos (#1) is topping the list, having created five unicorns and grown its ecosystem valuation 11.6x since 2017 despite having a smaller economy,” the report stated.

Other cities rounding out the top five fastest-growing tech hubs include:

Lagos, Nigeria
Istanbul, Turkey
Pune, India
Belo Horizonte, Brazil
Curitiba, Brazil
Additional cities highlighted in the report include Mumbai (India) and Riyadh (Saudi Arabia), signalling strong momentum in emerging markets across Africa, Asia, and Latin America.

The “Rising Stars” list evaluates cities based on startup ecosystem growth, unicorn creation, and increases in enterprise value—factors adjusted for local GDP and cost of living to ensure fair comparisons.

The rise of Lagos as a global tech powerhouse has coincided with strategic investments under the administration of Governor Babajide Sanwo-Olu. The Lagos State Science Research and Innovation Council (LASRIC) has made over ₦1 billion in grants available to support local startups.

Reacting to the report, Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, quoted Governor Sanwo-Olu saying: “We are thrilled but not surprised because of the hard work that our youths are doing. We plan to make Lagos a big centre for tech experts. If Microsoft or Google and other giants are looking for good hands, there will be a big pool from which they can draw.”

Sanwo-Olu also pointed to the vibrancy of the city’s innovation scene. “Thousands of our youths are busy at tech hubs, using technology to resolve everyday challenges. We will keep encouraging them,” he said.

The recognition from Dealroom.co follows other accolades for Lagos, including its inclusion by Time Out Magazine as one of the Top 3 African Cities to Visit in 2025.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

2 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

4 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.