LAGOS — Lagos is strengthening its position as one of Africa's leading technology centres after startups in the city reportedly secured $2.4 billion in venture capital during the third quarter of 2026.
Investment has been driven largely by developments in fintech, healthtech and artificial intelligence, with international investors from Silicon Valley, London and Tokyo backing Nigerian entrepreneurs.
Among the innovations attracting attention are artificial-intelligence agricultural platforms designed to predict crop yields and blockchain-based financial networks supporting lower-cost cross-border transactions.
The Nigerian government has also introduced the Digital Lagos Initiative, offering incentives to technology hubs and supporting the expansion of high-speed fibre-optic broadband.
Authorities expect the programme to contribute significantly to employment in the digital economy, with more than 150,000 new jobs projected over the next three years.
The development further highlights Lagos's growing role in Africa's technology and innovation ecosystem.
